Diamondback Energy (FANG) Raises Share Buyback to $6B from $4B

On September 18, 2024, the Board approved increasing the total authorized repurchases under Diamondback Energy's (NASDAQ: FANG) existing common stock repurchase program from $4 billion to $6 billion. As of September 18, 2024, the Company had repurchased 20,257,528 shares of common stock under the common stock repurchase program at an average share price of $127.00 for a total cost of approximately $2.57 billion. The common stock repurchase program has no time limit and may be suspended from time to time, modified, extended or discontinued by the Board at any time. Purchases under the common stock repurchase program may be made from time to time in privately negotiated transactions or open market transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and will be subject to market conditions, applicable legal requirements and other factors.

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