Sep. 3 at 4:39 PM
$FANG hits its targeted divesture goals for 2025, selling its Environmental Disposal Systems (EDS) to Deep Blue Midland Basin for
$675M (ex-
$200M of additional cash proceeds through performance-based earnouts) & a stake in EPIC Crude Holdings for
$500M (ex-potential of share of
$193M earnout proceeds)
The deals follow Diamondback’s July sale of the BANGL NGL pipeline to midstream firm MPLX for
$130M & non-operated Delaware Basin assets to Riverbend Energy Group for
$138M.
TD: All told, FANG has now achieved its
$1.5B FY25 non-core sale target, allowing FANG to hit term loan balance deleveraging goals
Diamondback is targeting near-term net debt of
$10B & long-term debt of
$7B.
“FANG remains committed to returning 50% of excess FCF & as of the 2Q25 report the company had already repurchased
$238M of shares in 3Q25"
Diamondback’s debt reduction goals are connected to its April deal to purchase Double Eagle IV in a cash-and-stock deal valued at
$4.1B
