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Diamondback Energy Closes Offering

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February 27, 2014

Diamondback Energy Inc. (NasdaqGS: FANG) closed its public offering of 3,450,000 common shares for net proceeds of about $208.3 million, the company said Feb. 26.

The shares were priced at $62.67 each, and the offering included an underwriters’ option to purchase 450,000  additional shares, the company noted.

The net proceeds, calculated after underwriters’ discounts, will fund pending Permian Basin acquisitions in Martin County, Texas, the company added, noting that revolving credit borrowings will also be used.

Additionally, net proceeds will fund exploration and development activities and general corporate purposes, the ...

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