Diamondback Energy, an oil and natural gas E&P operating in west Texas, announced terms for its IPO on Tuesday. The Midland, TX-based company plans to raise $225 million by offering 12.5 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Diamondback Energy would command a fully diluted market value of $632 million. Diamondback Energy, which was founded in 2007 and booked $57 million in sales for the 12 months ended June 30, 2012, plans to list on the NASDAQ under the symbol FANG. Credit Suisse is the lead bookrunner on the deal.
