Diamondback Energy, Inc.

8. DEBT

Long-term debt consisted of the following as of the dates indicated:

References in this section to the Company shall mean Diamondback Energy, Inc. and Diamondback E&P, collectively, unless otherwise specified.

Credit Agreement

Diamondback E&P, as borrower, and Diamondback Energy, Inc., as parent guarantor, have a credit agreement (as amended, the “Credit Agreement”), which provides the Company with a credit facility with a maximum credit amount of $2.5 billion and a maturity date of June 12, 2030 (such facility, the “Revolving Credit Facility”). As of March 31, 2026, the Company hadno outstanding borrowings under the Revolving Credit Facility and approximately $2.5 billion available for future borrowings. During the three months ended March 31, 2026 and March 31, 2025, the weighted average interest rate on borrowings under the Revolving Credit Facility was 5.00% and 5.92%, respectively.

As of March 31, 2026, the Company was in compliance with all financial maintenance covenants under the Credit Agreement.

Viper’s Revolving Credit Agreement

Former Viper, as guarantor, has a credit agreement with Viper LLC, as borrower, and Wells Fargo, as the administrative agent (as amended, the “Viper Revolving Credit Agreement”). The Viper Revolving Credit Agreement provides the borrower with a senior unsecured revolving credit facility with a commitment of $1.5 billion and a maturity date of June 12, 2030 (such facility, the “Viper Revolving Credit Facility”). As of March 31, 2026, there were $20 million in outstanding borrowings and approximately $1.48 billion available for future borrowings under the Viper Revolving Credit Facility. The weighted average interest rates on borrowings under Viper LLC’s respective revolving credit facilities were 5.19% and 6.57% for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, Viper LLC was in compliance with all financial maintenance covenants under the Viper Revolving Credit Agreement.

Term Loan Agreements

Diamondback Term Loan Agreement

In connection with the Double Eagle Acquisition, Diamondback Energy, Inc., as guarantor, entered into a term loan credit agreement with Diamondback E&P, as borrower, and Bank of America, N.A., as administrative agent (the “2025 Term Loan”) on March 21, 2025.

The 2025 Term Loan provided the Company with the ability to borrow up to $1.5 billion on an unsecured basis to fund a portion of the cash consideration and expenses for the Double Eagle Acquisition. On April 1, 2025, the date of closing of the Double Eagle Acquisition, the 2025 Term Loan was fully drawn in a single borrowing. Any then-outstanding amounts will mature and be payable in full on the second anniversary of the initial funding date. During the three months ended March 31, 2026, the weighted average interest rate on borrowings under the 2025 Term Loan was 5.03%.

Viper Term Loan Agreement

On July 23, 2025, in connection with the Sitio Acquisition, Former Viper, as guarantor, entered into a $500 million term loan credit agreement with Viper LLC, as borrower, and Goldman Sachs Bank USA, as administrative agent (the “Viper 2025 Term Loan”). On August 19, 2025, the Viper 2025 Term Loan was fully drawn and New Viper became a co-guarantor of the Viper 2025 Term Loan. On February 13, 2026, Viper used the cash proceeds received from the Viper Non-Permian Divestiture to repay in full the $500 million remaining outstanding and terminate the Viper 2025 Term Loan.