Diamondback Energy Files For $50M IPO

Law360, New York (February 14, 2012, 7:46 PM EST) -- Diamondback Energy Inc., a west Texas oil company formed by Connecticut-based private equity firm Wexford Capital LP, filed Tuesday with the U.S. Securities & Exchange Commission for a $50 million initial public offering.

The newly formed oil exploration and production company owns more than 28,000 acres in Texas' Permian Basin, where the company has drilled 142 wells, 132 of which are operated by a Diamondback subsidiary, according to the SEC documents filed Tuesday.

Diamondback focuses on the exploration and exploitation of unconventional onshore oil and natural...
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