Diamondback Energy IPO watch: According to the amended prospectus filed with the U.S. Securities and Exchange Commission (SEC) by the oil and natural gas company Diamondback Energy recently, the company has applied to list its common stock on the NASDAQ Global Market under the symbol “FANG.”
Diamondback Energy Inc., incorporated on December 30, 2011, is an independent oil and natural gas company currently focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.
Credit Suisse Securities is acting as the book-runner of the Diamondback Energy IPO.
Diamondback Energy recognized oil and natural gas revenues of $47.18 million, $26.44 million and other incomes of $1.49 million, $0.81 million, for the years ended December 31. The company posted net losses of $0.55 million and $0.95 million for the corresponding years mentioned above.
At the closing of the Diamondback Energy IPO, the company will use the net proceeds from the sale of the common shares to repay outstanding borrowings and the Gulfport contribution note, and for general corporate purposes.