Welcome to our dedicated page for Diamondback Ener news (Ticker: FANG), a resource for investors and traders seeking the latest updates and insights on Diamondback Ener stock.
Diamondback Energy, Inc. reports news as an independent oil and natural gas company focused on unconventional, onshore reserves in the Permian Basin of West Texas. Updates center on oil, natural gas and NGL production, realized prices, commodity derivatives, cash capital expenditures, free cash flow, and production guidance.
Recurring FANG developments also include capital allocation through base cash dividends and common-stock repurchases, shareholder letters on commodity-market conditions and operating flexibility, public offerings involving common stock, and liability-management actions such as tender offers for senior notes.
Diamondback Energy (NASDAQ: FANG) announced the expiration of its cash tender offer for Energen's 4.625% Senior Notes due 2021 on May 22, 2020. A total of $208.69 million, or 52.17% of the aggregate principal amount, was validly tendered, excluding $385,000 subject to guaranteed delivery procedures. Payment for the validly tendered Notes is scheduled for May 26, 2020. The company confirmed that any Notes not tendered will remain outstanding. This press release does not constitute an offer to sell or a solicitation in jurisdictions where such an offer is unlawful.
Diamondback Energy (NASDAQ:FANG) announced a $500 million offering of 4.75% senior notes, maturing on May 31, 2025. The proceeds will be used to fund an equity contribution to Energen Corporation for purchasing its own 4.625% Senior Notes due 2021, repay part of its revolving credit facility, and for general corporate purposes. The offering, priced at 100% of the principal amount, is expected to close on May 26, 2020. The notes were sold in a registered offering under an effective shelf registration. J.P. Morgan, Citigroup, and Wells Fargo served as joint book-running managers.
Diamondback Energy, Inc. (NASDAQ: FANG) announced a cash tender offer to purchase all of Energen Corporation's 4.625% Senior Notes due 2021, totaling $400 million outstanding as of May 15, 2020. The offer, valid until May 22, 2020, includes a cash consideration of $1,010 per $1,000 principal amount, plus accrued interest. The tender is subject to specific conditions, including equity contributions from Diamondback. Holders can withdraw their notes prior to the expiration date, and the settlement date is projected for May 26, 2020.