DIAMONDBACK ENERGY, INC. (NASDAQ:FANG) Files An 8-K Other Events

DIAMONDBACK ENERGY, INC. (NASDAQ:FANG) Files An 8-K Other Events
Item 9.01. Other Events.

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Notes Offering

On September 18, 2018, Diamondback Energy, Inc. (“Diamondback”) issued a press release announcing the pricing of an offering (the “Tack-On Offering”) of $750.0 million aggregate principal amount of its 4.750% Senior Notes due 2024 (the“New Notes”), representing a $250.0 million upsize from the previously announced size of the offering. The New Notes will be issued as additional securities under the indenture, dated as of October 28, 2016 (the “Indenture”), under which Diamondback issued $500.0 million aggregate principal amount of its 4.750% Senior Notes due 2024 on October 28, 2016, all of which were subsequently exchanged for substantially identical notes in the same aggregate principal amount (the “Existing Notes”). The Existing Notes and the New Notes will be treated as a single class of debt securities under the Indenture. The New Notes will be issued at an offering price of 99.75% of par. The New Notes were offered to qualified institutional buyers to Rule 144A under the Securities Act of 1933, as amended (the“Securities Act”), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. Diamondback intends to use the net proceeds from the Tack-On Offering to repay the outstanding borrowings under the revolving credit facility of Diamondback O&G LLC, Diamondback’s wholly-owned subsidiary, and for general corporate purposes, which may include a portion of the cash consideration for the pending acquisition of certain assets from Ajax Resources, LLC.

The Tack-On Offering is expected to close on September 25, 2018, subject to customary closing conditions. A copy of this press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The New Notes will not initially be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This report is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Item 9.01. Financial Statements and Exhibits.

Exhibits.


Diamondback Energy, Inc. Exhibit
EX-99.1 2 diamondbackex991-9x18x18.htm EXHIBIT 99.1 Exhibit DIAMONDBACK ENERGY PRICES UPSIZED $750 MILLION TACK-ON OFFERING OF SENIOR NOTESMidland,…
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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.

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