Diamondback Energy (FANG) Prices 6M Common Secondary Offering

Diamondback Energy, Inc. (Nasdaq: FANG) announced the pricing of an underwritten public offering of 6,000,000 shares of its common stock by certain selling stockholders at a price of $34.75 per share. The 6,000,000 share offering represents a 1,000,000 share upsize to the originally proposed 5,000,000 share offering. The underwriters have an option to purchase up to an additional 869,222 shares from the selling stockholders at the public offering price (less the underwriting discount). The shares to be sold in the offering will be sold by certain entities controlled by Wexford Capital LP and by Gulfport Energy Corporation (Nasdaq: GPOR) ("Gulfport Energy"). All of the net proceeds will go to the selling stockholders.

The offering is expected to close on June 24, 2013, subject to customary closing conditions.

Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. When available, copies of the written prospectus for the offering may be obtained from Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), at One Madison Avenue, New York, New York 10010.

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