Latham & Watkins Advises Diamondback Energy on Share Repurchase Agreement With Largest Stockholder

Diamondback Energy, Inc. has entered into an agreement with SGF FANG Holdings, LP, Diamondback’s largest stockholder, to repurchase at SGF’s option up to 3,000,000 Diamondback shares held by SGF in the fourth quarter of 2025 and each calendar quarter in 2026. Under the agreement, which has been approved by the audit committee of Diamondback’s Board of Directors, Diamondback is repurchasing an initial 2,000,000 shares for approximately US$305 million, based on the last NASDAQ closing price prior to the transaction.

Latham & Watkins LLP represents Diamondback Energy in the transaction with a corporate deal team led by New York partner Zachary Podolsky and Washington, D.C. partners William Hackett and Julia Thompson, with associates Kate Wang, Mary Tursi, and Mary Kline.