Diamondback Energy, Inc. has entered into a seventeenth amendment to its credit agreement, increasing the total commitments from $2.5 billion to $3.0 billion and extending the maturity date by one year. The amendment, effective June 12, 2026, also provides for a decrease in the applicable interest rate and certain fees.
Key Details
- Increased Commitment: The total commitments under the credit facility were increased by $500 million, from $2.5 billion to $3.0 billion.
- Extended Maturity: The maturity date of the credit agreement was extended from June 12, 2030, to June 12, 2031.
- Favorable Terms: The amendment decreased the interest rate applicable to loans and certain fees payable under the agreement.
- Administrative Agent: Wells Fargo Bank, National Association, continues to serve as the administrative agent for the facility.