Diamondback Energy Prices Offering of Senior Notes
Diamondback intends to use the net proceeds from the Notes Offering (i) to fund, in full, the redemption of all of Rattler Midstream LP’s outstanding 5.625% Senior Notes due 2025 (the “2025 Notes”) (at the redemption price, which includes a premium and accrued and unpaid interest on the 2025 Notes) and (ii) for general corporate purposes, including, without limitation, paying a portion of the cash consideration for the pending acquisition of certain oil and natural gas assets from
The redemption of the 2025 Notes (the “Redemption”) is conditional upon the closing of the Notes Offering and Diamondback’s receipt of net proceeds from the Notes Offering that is sufficient to redeem the 2025 Notes in full and fund all fees and expenses associated with the Redemption and the Notes Offering. The closing of the Notes Offering is not contingent on the Redemption.
The Notes will be sold in a registered offering pursuant to an effective shelf registration statement on Form S-3ASR, as amended, that was previously filed with the
This press release 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. The Notes Offering may only be made by means of a prospectus supplement and related base prospectus. This press release shall not constitute a notice of redemption under the 2025 Notes or the indenture governing the 2025 Notes.
Diamondback is an independent oil and natural gas company headquartered in
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. All statements, other than historical facts, that address activities, events or developments that Diamondback assumes, plans, expects, believes, intends or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events, including the current industry and macroeconomic conditions, commodity pricing environment, production levels, any future regulatory actions affecting Diamondback, the impact and duration of the COVID-19 pandemic, acquisitions and sales of assets, drilling and capital expenditure plans, environmental targets and initiatives and other factors believed to be appropriate. Forward looking statements are not guarantees of performance. These forward-looking statements involve certain risks and uncertainties, many of which are beyond Diamondback’s control and could cause the actual results or developments to differ materially from those currently anticipated by the management of Diamondback. Information concerning these risks and other factors can be found in Diamondback’s filings with the
Source: Diamondback Energy, Inc.