Feb 18 (Reuters) - Diamondback Energy Inc ( FANG ):

* DIAMONDBACK ENERGY, INC. ( FANG ) ANNOUNCES MIDLAND BASIN

ACQUISITION

* DIAMONDBACK ENERGY INC ( FANG ) - TO SELL AT LEAST $1.5 BILLION OF

NON-CORE ASSETS

* DIAMONDBACK ENERGY INC ( FANG ) - EXPECTS TO REDUCE NET DEBT TO $10

BILLION

* DIAMONDBACK ENERGY INC ( FANG ) - TO ACQUIRE DOUBLE EAGLE

SUBSIDIARIES

FOR $3 BILLION CASH AND 6.9 MILLION SHARES

* DIAMONDBACK ENERGY ( FANG ): ACQUISITION IMMEDIATELY ACCRETIVE TO

ALL

RELEVANT FINANCIAL METRICS INCLUDING CASH FLOW PER SHARE

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