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Diamondback Energy Announces Pricing Of Secondary Common Stock Offering

MIDLAND, Texas, Nov. 6, 2013 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (Nasdaq:FANG) ("Diamondback Energy") announced today the pricing of an underwritten public offering of 2,000,000 shares of its common stock by Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport Energy") at a price of $53.46 per share. The underwriters have an option to purchase up to an additional 300,000 shares from Gulfport Energy at the public offering price (less the underwriting discount). All of the net proceeds will go to Gulfport Energy.

The offering is expected to close on November 13, 2013, subject to customary closing conditions.

Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. Copies of the preliminary prospectus supplement for the offering may be obtained on the website of the Securities and Exchange Commission, www.sec.gov or by contacting Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), at One Madison Avenue, New York, New York 10010.

The common stock will be sold pursuant to an effective automatic shelf registration on Form S-3 previously filed with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering may only be made by means of a prospectus.

About Diamondback Energy

Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. Diamondback Energy's activities are primarily focused on the Wolfcamp, Clearfork, Spraberry, Cline, Strawn and Atoka formations.

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