Diamondback Energy plans revolver paydown using stock issue proceeds

By Susanna Moon

Chicago, Jan. 21 – Diamondback Energy, Inc. said it plans to pay down some debt under its revolving credit facility using proceeds of a stock offering.

The company plans a public offering of 1.75 million shares of its common stock with a greenshoe for up to 262,500 more shares, according to a company press release.

Diamondback is an independent oil and natural gas company based in Midland, Texas.

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