Diamondback Energy (FANG) IPO Opens Slightly Higher

October 12, 2012 10:43 AM EDT
The IPO for Diamondback Energy, Inc. (NASDAQ: FANG) opened at $17.82 after pricing 12,500,000 shares at $17.50 per share.

Credit Suisse Securities (USA) LLC acted as book-running manager for the offering. Raymond James & Associates, Inc., Tudor, Pickering, Holt & Co. Securities, Inc., Wells Fargo Securities, LLC, Capital One Southcoast, Inc., Scotiabank / Howard Weil, Simmons & Company International, Sterne, Agee & Leach, Inc., SunTrust Robinson Humphrey, Inc. and Wunderlich Securities, Inc. served as co-managers.

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.

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Credit Suisse, Raymond James, Sterne Agee, SunTrust Robinson Humphrey, Capital One Southcoast, Wunderlich Securities, Wells Fargo