Diamondback Energy Reshapes Midland Basin Portfolio with Dual Water and Midstream Moves

Diamondback Energy announced two major Midland Basin transactions today: the $750M sale of Environmental Disposal Systems to Deep Blue, nearly doubling Deep Blue’s water infrastructure scale, and the $500M sale of its 27.5% stake in EPIC Crude Holdings to Plains All American Pipeline. Together, the moves highlight Diamondback’s strategy of recycling midstream capital while reinforcing its long-term focus on Permian development and sustainable water management.

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Diamondback Energy’s Strong Q2 2025 Results Backed by High-Performance Drilling and Infrastructure Expansion

Diamondback Energy’s 2025 momentum reflects disciplined execution, with strong cash generation, aggressive capital returns, and strategic infrastructure investment. As drilling activity remains concentrated in high-return core counties, the concurrent increase in facility permitting signals continued optimization of its upstream-to-midstream value chain.

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2024: A Transformational Year for Diamondback Energy

In 2024, Diamondback Energy, Inc. solidified its position as a leading independent oil and gas producer, achieving record financial performance, operational efficiency gains, and strategic acquisitions. The company’s bold $26 billion merger with Endeavor Energy was a defining moment, creating a must-own Permian Pure Play with 722,000 net acres in the heart of the Midland Basin.

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Diamondback Energy, Inc. Announces Closing of Double Eagle Acquisition

Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has entered into a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco, LLC (“Double Eagle”) in exchange for approximately 6.9 million shares of Diamondback common stock and $3 billion of cash, subject to customary adjustments (the “Double Eagle Acquisition”).

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