Diamondback Energy Inc. (Nasdaq: FANG) has announced the launch of an underwritten public offering of 2 million shares of its common stock by certain selling stockholders, subject to market and other conditions. The underwriter will have an option to purchase up to an additional 300,000 shares of common stock from certain selling stockholders. The shares to be sold in the offering will be sold by certain entities controlled by Wexford Capital LP and by Gulfport Energy Corp. (Nasdaq: GPOR). The Wexford entities intend to sell 1,058,000 shares and Gulfport intends to sell 942,000 shares. All of the net proceeds will go to the selling stockholders.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering.
FANG is based in Midland, Texas.
Recommended Reading
Tech Trends: Halliburton’s Carbon Capturing Cement Solution
2024-02-20 - Halliburton’s new CorrosaLock cement solution provides chemical resistance to CO2 and minimizes the impact of cyclic loading on the cement barrier.
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.
Sinopec Brings West Sichuan Gas Field Onstream
2024-03-14 - The 100 Bcm sour gas onshore field, West Sichuan Gas Field, is expected to produce 2 Bcm per year.
TotalEnergies Restarts Gas Production at Tyra Hub in Danish North Sea
2024-03-22 - TotalEnergies said the Tyra hub will produce 5.7 MMcm of gas and 22,000 bbl/d of condensate.
Exxon Versus Chevron: The Fight for Hess’ 30% Guyana Interest
2024-03-04 - Chevron's plan to buy Hess Corp. and assume a 30% foothold in Guyana has been complicated by Exxon Mobil and CNOOC's claims that they have the right of first refusal for the interest.