Diamondback energy, inc. announces the sale of its equity interest in epic crude holdings, lp

Midland, texas, sept. 02, 2025 (globe newswire) -- diamondback energy, inc. (nasdaq: fang) (“diamondback”) today announced that its wholly owned subsidiaries have entered into a definitive agreement to sell their 27.5% equity interest in epic crude holdings, lp (“epic crude”), an affiliate of epic midstream holdings lp, to a wholly owned subsidiary of plains all american pipeline, l.p. and plains gp holdings (collectively “plains”) for approximately $500 million in net upfront cash and an additional $96 million contingent cash payment due should a capacity expansion of epic crude be formally sanctioned before year-end 2027 (“contingent consideration”). the transaction terms imply an upfront valuation for 100% of epic crude at $2.85 billion and $350 million for the contingent consideration.
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