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Diamondback Energy Announces Pricing of Secondary Common Stock Offering

Diamondback Energy Announces Pricing of Secondary Common Stock Offering

MIDLAND, Texas, Nov. 6, 2013 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc.
(Nasdaq:FANG) ("Diamondback Energy") announced today the pricing of an
underwritten public offering of 2,000,000 shares of its common stock by
Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport Energy") at a price of
$53.46 per share. The underwriters have an option to purchase up to an
additional 300,000 shares from Gulfport Energy at the public offering price
(less the underwriting discount). All of the net proceeds will go to Gulfport
Energy.

The offering is expected to close on November 13, 2013, subject to customary
closing conditions.

Credit Suisse Securities (USA) LLC is acting as sole book-running manager for
the offering. Copies of the preliminary prospectus supplement for the offering
may be obtained on the website of the Securities and Exchange Commission,
www.sec.gov or by contacting Credit Suisse Securities (USA) LLC, Prospectus
Department (1-800-221-1037), at One Madison Avenue, New York, New York 10010.

The common stock will be sold pursuant to an effective automatic shelf
registration on Form S-3 previously filed with the Securities and Exchange
Commission.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of these securities in any
state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or
jurisdiction. This offering may only be made by means of a prospectus.

About Diamondback Energy

Diamondback Energy is an independent oil and natural gas company focused on
the acquisition, development, exploration and exploitation of unconventional,
onshore oil and natural gas reserves in the Permian Basin in West Texas.
Diamondback Energy's activities are primarily focused on the Wolfcamp,
Clearfork, Spraberry, Cline, Strawn and Atoka formations.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of
the federal securities laws. All statements, other than historical facts, that
address activities that Diamondback Energy assumes, plans, expects, believes,
intends or anticipates (and other similar expressions) will, should or may
occur in the future are forward-looking statements. The forward-looking
statements are based on management's current beliefs, based on currently
available information, as to the outcome and timing of future events. These
forward-looking statements involve certain risks and uncertainties that could
cause the results to differ materially from those expected by the management
of Diamondback Energy. Information concerning these risks and other factors
can be found in Diamondback Energy's filings with the Securities and Exchange
Commission, including its Forms 10-K, 10-Q and 8-K, which can be obtained free
of charge on the Securities and Exchange Commission's web site at
http://www.sec.gov. Diamondback Energy undertakes no obligation to update or
revise any forward-looking statement. Any forward-looking statements made on
this press release speak only as of the date of this release and, except as
required by law, Diamondback Energy undertakes no obligation to update any
forward-looking statement contained in this press release, even if Diamondback
Energy's expectations of any related events, conditions or circumstances
change. Diamondback Energy is not responsible for any changes made to this
release by wire or Internet Services.

CONTACT: Investor Contact:
         Adam Lawlis
         +1 432.221.7467
         alawlis@diamondbackenergy.com

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