May 3, 2013

Diamondback Energy, Inc. Schedules 2013 First Quarter Conference Call for May 8, 2013

MIDLAND, Texas, May 3, 2013 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (Nasdaq:FANG) today announced that it plans to release its first quarter financial results on Tuesday, May 7, 2013 after the market closes.

In connection with the earnings release, Diamondback Energy, Inc. will host a conference call and webcast for investors and analysts to discuss its results for the quarter on Wednesday, May 8, 2013 at 10:00 a.m. ET.

Participants should call (877) 440-7573 (United States/Canada) or (253) 237-1144 (International) and utilize the confirmation code 59387191. A telephonic replay will be available for anyone unable to participate in the live call. To access the replay, call (855) 859-2056 (United States/Canada) or (404) 537-3406 (International) and enter confirmation code 59387191. The recording will be available from 1:00 p.m. ET on Wednesday, May 8, 2013 through Tuesday, May 14, 2013 at 11:59 p.m. ET. A live broadcast of the earnings conference call will also be available via the internet at under the "Investor Relations" section of the site. The webcast will be archived on the site.

About Diamondback Energy, Inc.

Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. Diamondback Energy's activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, which we refer to collectively as the Wolfberry play.

CONTACT: Investor Contact:

         Adam Lawlis

         +1 432.221.7467

Source: Diamondback Energy, Inc.

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