Diamondback Energy, Inc. Announces the Sale of Its Equity Interest in Epic Crude Holdings, LP

(NASDAQ:FANG) MIDLAND, Texas, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) today announced that its wholly owned subsidiaries have entered into a definitive agreement to sell their 27.5% equity interest in EPIC Crude Holdings, LP (“EPIC Crude”), an affiliate of EPIC Midstream Holdings LP, to a wholly owned subsidiary of Plains All American Pipeline, L.P. and Plains GP Holdings (collectively “Plains”) for approximately $500 million in net upfront cash and an additional $96 million contingent cash payment due should a capacity expansion of EPIC Crude be formally sanctioned before year-end 2027 (“Contingent Consideration”). The transaction terms imply an upfront valuation for 100% of EPIC Crude at $2.85 billion and $350 million for the Contingent Consideration.