Latham & Watkins Advises Diamondback Energy on Share Repurchase Agreement With Largest Stockholder

"Latham & Watkins LLP advised Diamondback Energy, Inc. on a share repurchase agreement with SGF FANG Holdings, LP under which Diamondback may repurchase up to 3,000,000 shares at SGF’s option in Q4 2025 and quarterly in 2026. Diamondback is immediately repurchasing 2,000,000 shares for approximately US$305 million."

Latham & Watkins LLP represented Diamondback Energy, Inc. in the transaction with SGF FANG Holdings, LP. Diamondback Energy, Inc. has entered into an agreement with SGF FANG Holdings, LP, Diamondback’s largest stockholder, under which SGF may elect to have Diamondback repurchase up to 3,000,000 shares held by SGF in the fourth quarter of 2025 and in each calendar quarter of 2026. The agreement has been approved by the audit committee of Diamondback’s Board of Directors. Under the agreement, Diamondback is repurchasing an initial 2,000,000 shares for approximately US$305 million, based on the last NASDAQ closing price prior to the transaction. Latham & Watkins LLP represented Diamondback Energy, Inc. with a corporate deal team composed by: New York partner Zachary Podolsky; Washington, D.C. partners William Hackett and Julia Thompson; and associates Kate Wang, Mary Tursi, and Mary Kline.

Latham & Watkins Advises Diamondback Energy on Share Repurchase Agreement With Largest Stockholder

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