FANG · News · 20260805N

Acquisition / Partnership / Divestiture

Diamondback Energy, Inc. · 2026-08-05 · Importance 31 · Surprise 42

Diamondback is pursuing expanded natural-gas and power optionality alongside its core Permian oil operations. Management discussed a proposed power project near Midland, Texas, as well as gas-market recovery prospects tied to new pipeline capacity and rising power demand. The initiatives are intended to provide additional monetization routes for Permian gas and support longer-term strategic flexibility. Third-party coverage linked the potential gas recovery to expected infrastructure improvements rather than to a completed transaction.

Key facts

• The definitive Purchase Agreement between Viper Energy and Diamondback/related parties is dated August 3, 2026, and the deal is expected to close in September, subject to customary adjustments. source