Diamondback Energy Enters Material Agreement for Endeavor Acquisition

Ticker: FANG · Form: 8-K · Filed: 2025-03-21T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, material-agreement, oil-gas

Related Tickers: FANG

TL;DR

DBK just signed a big deal for Endeavor Energy - acquisition moving forward!

AI Summary

On March 21, 2025, Diamondback Energy, Inc. entered into a material definitive agreement related to its acquisition of Endeavor Energy Resources LLC. The agreement outlines the terms and conditions for this significant transaction, which is expected to reshape Diamondback's operational footprint.

Why It Matters

This agreement marks a significant step in Diamondback Energy's strategy to expand its operations through the acquisition of Endeavor Energy Resources, potentially impacting market dynamics and shareholder value.

Risk Assessment

Risk Level: medium — The acquisition of Endeavor Energy is a large transaction with significant financial and operational implications, carrying inherent risks related to integration and market conditions.

Key Players & Entities

FAQ

What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to report the entry into a material definitive agreement by Diamondback Energy, Inc., specifically related to its acquisition of Endeavor Energy Resources LLC.

Who are the main companies involved in the reported agreement?

The main companies involved are Diamondback Energy, Inc. (the registrant) and Endeavor Energy Resources LLC, which Diamondback is acquiring.

On what date was this material definitive agreement entered into?

The material definitive agreement was entered into on March 21, 2025, which is also the date of the earliest event reported.

What is the filing status of this document?

This is a Current Report on Form 8-K filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Where is Diamondback Energy, Inc. headquartered?

Diamondback Energy, Inc. is headquartered in Midland, Texas, with its principal executive offices located at 500 West Texas Ave. Suite 100, Midland, Texas 79701.

From the Filing

0001140361-25-009880.txt : 20250321 0001140361-25-009880.hdr.sgml : 20250321 20250321160920 ACCESSION NUMBER: 0001140361-25-009880 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20250321 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250321 DATE AS OF CHANGE: 20250321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Diamondback Energy, Inc. CENTRAL INDEX KEY: 0001539838 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35700 FILM NUMBER: 25760558 BUSINESS ADDRESS: STREET 1: 500 WEST TEXAS STREET 2: SUITE 1200 CITY: MIDLAND STATE: TX ZIP: 79701 BUSINESS PHONE: 405-463-6900 MAIL ADDRESS: STREET 1: 500 WEST TEXAS STREET 2: SUITE 1200 CITY: MIDLAND STATE: TX ZIP: 79701 8-K 1 ef20045931_8k.htm 8-K false 0001539838 0001539838 2025-03-21 2025-03-21 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 March 21, 2025 Date of Report (Date of Earliest Event Reported) DIAMONDBACK ENERGY, INC. (Exact name of registrant as specified in its charter)   Delaware 001-35700 45-4502447 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)   500 West Texas Ave. Suite 100 Midland , Texas 79701 (Address of principal executive offices) (Zip Code)   Registrant’s telephone number, including area code: ( 432 ) 221-7400   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share FANG The Nasdaq Stock Market LLC (NASDAQ Global Select Market) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 1.01 Entry into a Material Definitive Agreement.   Term Loan Agreement   On March 21, 2025 (the “Term Loan Effective Date”), Diamondback Energy, Inc., as guarantor (the “Company”), entered into a Term Loan Credit Agreement with Diamondback E&P LLC, as borrower (the “Borrower”), the lenders named therein and Bank of America, N.A., as administrative agent (the “Term Loan Agreement”). The Term Loan Agreement was entered into in connection with the Company’s pending acquisition (the “Acquisition”) of DE Permian, LLC, a Texas limited liability company, DE IV Combo, LLC, a Delaware limited liability company, and DE IV Operating, LLC, a Texas limit

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