Diamondback Energy, Inc. and Energen Corporation Announce Favorable ISS and Glass Lewis Recommendations for Merger

MIDLAND, Texas & BIRMINGHAM, Ala.--(BUSINESS WIRE)--Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) and Energen Corporation (NYSE: EGN) or (“Energen”) today announced that each of Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC, leading proxy advisor firms, has recommended that Diamondback’s stockholders vote “FOR” the issuance of Diamondback shares in connection with the parties’ pending merger transaction and that Energen’s shareholders vote “FOR” the proposal to approve the merger agreement and “FOR” the non-binding compensation advisory proposal. These proposals and the proposed merger are described in more detail in the definitive joint proxy statement/prospectus that has been distributed to the companies’ holders of common stock. Each company is scheduled to hold a special meeting of holders of its common stock to vote on the applicable proposal(s) on November 27, 2018.