We advised the underwriters on the offering

Davis Polk advised the underwriters in connection with a $2.15 billion SEC-registered secondary offering of 12,650,000 shares of common stock of Diamondback Energy, Inc. by SGF FANG Holdings, LP, including 1,650,000 shares pursuant to the underwriters’ exercise in full of their option to purchase additional shares. The common stock is listed on the Nasdaq Global Select Market under the symbol “FANG.”

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 primarily in the Permian Basin in West Texas.

The Davis Polk capital markets team included partner Roshni Banker Cariello and associates Dennis Chu and Elli Park. The tax team included counsel Tracy L. Matlock and associate Michael Hsieh. Counsel Michael Comstock and associate David Sacasa-Ospina provided environmental advice. All members of the Davis Polk team are based in the New York office.

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