Diamondback energy, inc. announces conditional tender offers and consent solicitations for its 5.375% senior notes due 2025 and qep resources, inc.'s 5.375% senior notes due 2022, 5.250% senior notes due 2023 and 5.625% senior notes due 2026

Midland, texas, march 04, 2021 (globe newswire) -- diamondback energy, inc. (nasdaq:fang) (“diamondback” or the “company”) today announced that, in connection with the pending all-stock acquisition of qep resources, inc. (“qep”), it has commenced (i) a cash tender offer (the “diamondback tender offer”) to purchase any and all of diamondback's outstanding 5.375% senior notes due 2025 (the “2025 notes”) and (ii) cash tender offers (the “qep tender offers” and, together with the diamondback tender offer, the “tender offers”) to purchase any and all of qep's outstanding 5.375% senior notes due 2022 (the “2022 notes”), 5.250% senior notes due 2023 (the “2023 notes”) and 5.625% senior notes due 2026 (the “2026 notes” and, together with the 2022 notes and the 2023 notes, the “qep notes” and, the qep notes together with the 2025 notes, the “notes”) from holders of each series of the notes. in connection with the tender offers, diamondback is also soliciting consents from holders of each series of the notes (collectively, the “consent solicitations”) to effect certain amendments to the indentures governing each series of the notes (collectively, the “indentures”). the terms and conditions of the diamondback tender offer and related consent solicitation are described in the offer to purchase for cash and consent solicitation statement, dated march 4, 2021 (the “diamondback offer to purchase”). the terms and conditions of the qep tender offers and consent solicitation are described in the offer to purchase for cash and consent solicitation statement, dated march 4, 2021 (the “qep offer to purchase” and, together with the diamondback offer to purchase, the “offers to purchase”).
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