Key Developments: Diamondback Energy Inc (FANG.O)
31.43USD
17 May 2013
$1.49 (+4.98%)
$29.94
$30.52
$32.41
$30.20
913,935
246,158
$32.41
$15.65
Latest Key Developments (Source: Significant Developments)
Diamondback Energy Inc Announces Pricing Of Common Stock Offering
Diamondback Energy Inc announced the pricing of an underwritten public offering of 4,500,000 shares of common stock at a price of $29.25 per share. The 4,500,000 share offering represents a 500,000 share upsize to the originally proposed 4,000,000 share offering. The underwriters have an option to purchase up to an additional 675,000 shares from Diamondback Energy at the public offering price (less the underwriting discount). All of the shares to be sold in the offering will be sold by Diamondback Energy. Net proceeds to Diamondback Energy from the sale of 4,500,000 shares, after underwriting discounts and commissions and estimated expenses, are expected be approximately $125.5 million. Diamondback Energy intends to use the net proceeds from the offering to repay in full all borrowings outstanding under revolving credit facility, with the balance of the proceeds to fund a portion of exploration and development activities and for general corporate purposes, which may include leasehold interest and property acquisitions and working capital. The offering is expected to close on May 21, 2013. Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. Full Article
Diamondback Energy Inc Launches Common Stock Offering
Diamondback Energy Inc announced that the launch of an underwritten public offering of 4,000,000 shares of its common stock, subject to market and other conditions. The underwriters will have an option to purchase up to an additional 600,000 shares of common stock from Diamondback Energy. All of the shares to be sold in the offering will be sold by Diamondback Energy. Diamondback Energy intends to use the net proceeds from the offering to repay all borrowings outstanding under its revolving credit facility, with the balance of the proceeds to fund a portion of its exploration and development activities and for general corporate purposes, which may include leasehold interest and property acquisitions and working capital. Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. Full Article
Diamondback Energy Inc Reaffirms FY 2013 Production Guidance
Diamondback Energy Inc announced that for fiscal 2013, it expects annual average daily production in the range of 7,200 to 7,500 boepd. Full Article
Diamondback Energy Inc Issues FY 2013 Production Guidance
Diamondback Energy Inc announced that for fiscal 2013, it expects annual average daily production in the range of 7,200 to 7,500 boepd. Full Article
Diamondback Energy Inc Completes Initial Public Offering Of Common Stock
Diamondback Energy Inc announced the completion of its initial public offering of 12,500,000 shares of common stock at a public offering price of $17.50 per share (the "Diamondback Energy IPO"). Diamondback Energy's common stock commenced trading on The Nasdaq Global Select Market on October 12, 2012 under the ticker symbol "FANG." The closing of the Diamondback Energy IPO took place on October 17, 2012. The underwriters have a 30-day option to purchase from Diamondback Energy up to an additional 1,875,000 shares of common stock at the public offering price (less the underwriting discount). Net proceeds to Diamondback Energy from the sale of the shares of its common stock, after underwriting discounts and estimated expenses, are estimated to be approximately $204.6 million (or $235.3 million if the underwriters' option to purchase additional shares is exercised in full). 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. Full Article
Diamondback Energy Inc Announces Launch Of Initial Public Offering
Diamondback Energy Inc announced the commencement of initial public offering of 12,500,000 shares of common stock at an anticipated initial public offering price of between $17.00 and $19.00 per share. In addition, the underwriters have a 30-day option to purchase from Diamondback Energy up to an additional 1,875,000 shares of common stock, at the same price per share. Diamondback Energy will list common stock on the NASDAQ Global Market under the symbol FANG. Credit Suisse Securities (USA) LLC will act as book-running manager for the proposed offering. Raymond James & Associates, Inc., Tudor, Pickering, Holt & Co. Securities, Inc., Wells Fargo Securities, LLC, Capital One Southcoast, Inc., Howard Weil Incorporated, Simmons & Company International, Sterne, Agee & Leach, Inc., SunTrust Robinson Humphrey, Inc. and Wunderlich Securities, Inc. are serving as co-managers. Full Article
Diamondback Energy Inc Files Plans For IPO Of Up To $50 Million In Stock-WSJ
The Wall Street Journal reported that Diamondback Energy Inc filed plans for an estimated Initial Public Offering (IPO) of up to $50 million in common stock. Diamondback Energy Inc plans to use its IPO proceeds to fund its exploration and development activities and for general corporate purposes, including acquisitions, working capital and debt repayment. The Company intends to apply for listing on the Nasdaq Global Market under the symbol FANG. Full Article
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