Diamondback Energy disclosed that it entered into a letter agreement with SGF FANG Holdings granting SGF the option to sell up to 3 million Diamondback shares per quarter through the end of 2026 at the latest NASDAQ closing price. Under this agreement, Diamondback repurchased 2 million SGF shares on November 28, 2025 at $152.59 per share. These purchases fall under the company’s existing $8 billion buyback authorization. With this transaction, Diamondback has bought back about 2.89 million shares since September 30 for $432 million, leaving roughly $2.7 billion remaining under its repurchase program. The agreement does not restrict SGF from selling shares through other permitted methods.