DIAMONDBACK ENERGY, INC. (NASDAQ:FANG) Files An 8-K Entry into a Material Definitive Agreement
Item 9.01. Entry into a Material Definitive Agreement
Amendment to Credit Facility
On March 25, 2019, Diamondback, as parent guarantor, Diamondback O&G LLC, as borrower (the “Borrower”), and certain other subsidiaries of Diamondback, as guarantors, entered into a tenth amendment (the “Tenth Amendment”) to the Second Amended and Restated Credit Agreement, dated as of November1, 2013, with Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto.
The Tenth Amendment increased the Borrower’s aggregate elected commitment amount from $2.0 billion to $2.5 billion.
The preceding summary of the Tenth Amendment is qualified in its entirety by reference to the full text of such amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information set forth in Item 9.01 above is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
Tenth Amendment to Second Amended and Restated Credit Agreement, dated as of March 25, 2019, between Diamondback, as parent guarantor, Diamondback O&G LLC, as borrower, certain other subsidiaries of Diamondback Energy, Inc. as guarantors, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto.
Diamondback Energy, Inc. Exhibit
EX-10.1 2 diamondbackex101-3x29x19.htm EXHIBIT 10.1 Exhibit Execution VersionExhibit 10.1TENTH AMENDMENT TO SECOND AMENDED AND RESTATEDCREDIT AGREEMENTDATED AS OF MARCH 25,…
To view the full exhibit click
About DIAMONDBACK ENERGY, INC. (NASDAQ:FANG)
Diamondback Energy, Inc. is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres. The Company, through its subsidiary Viper Energy Partners LP (Viper), owns mineral interests underlying approximately 46,560 gross (17,060 net) acres primarily in Midland County, Texas in the Permian Basin. Approximately 60% of these net acres are operated by the Company. It has drilled or participated in the drilling 490 gross wells on its leasehold acreage in Permian Basin area, primarily targeting the Wolfberry play. The Permian Basin area covers a portion of western Texas and eastern New Mexico. Its activities are focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, which it collectively refers as the Wolfberry play.