Diamondback (FANG) Declares Strategic Sale of WTG Midstream

Significance of the Sale Financial Impact: This sale represents a significant financial milestone for FANG. Through its subsidiary, Rattler Midstream LP, FANG has owned a 25% stake in Remuda Midstream Holdings LLC (WTG Midstream) since October 2021. The sale of WTG Midstream Holdings LLC represents an approximate 3.5x on invested capital for FANG. Debt Reduction Strategy: Proceeds from this transaction will be strategically used to reduce debt associated with the pending Endeavor Energy Resources, L.P. merg ...