MIDLAND, Texas, Nov. 02, 2026 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the third quarter ended September 30, 2026.
THIRD QUARTER 2026 HIGHLIGHTS
-
Average oil production of 525 MBO/d (1,034 MBOE/d)
-
Net cash provided by operating activities of $2.6 billion; Operating Cash Flow Before Working Capital Changes1 of $3.2 billion
-
Cash capital expenditures of $1.0 billion
-
Free Cash Flow1 and Adjusted Free Cash Flow1 of $2.1 billion and $2.2 billion, respectively
-
Increased annual base dividend by 7.3% to $4.72 per share; marks an 18% year over year increase and a ~2.2% annualized yield2
-
Repurchased 1.3 million shares of common stock for approximately $251 million
-
Repurchased $106 million in aggregate principal amount of 2054 and 2064 Senior Notes at a weighted average price of 94.9% of par ($103 million, including accrued interest)
-
Acquired a 7.5% equity interest in the Solitude Pipeline System, a Permian-to-Katy natural gas pipeline
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1 NON-GAAP DISCLOSURES – For a definition of Operating Cash Flow Before Working Capital Changes, Free Cash Flow, Adjusted Free Cash Flow, Adjusted Net Income, Adjusted EBITDA, Adjusted Net Income per Diluted Share, Net Debt and reconciliations of such non-GAAP financial metrics to their respective most directly comparable GAAP metrics, please see “Non-GAAP Financial Measures” below.
2 Cash dividend payable on November 19, 2026; annualized yield based on October 30, 2026 closing share price of $212.08
UPDATED 2026 GUIDANCE HIGHLIGHTS
-
Increasing annual oil production guidance to ~524 (from 522+) MBO/d with total BOE production of ~1,015 (from 1,000+) MBOE/d and full year cash capital expenditures to $3.95 – $4.00 billion (from ~$3.9 billion)
-
Q4 2026 oil production guidance of 518 – 528 MBO/d (1,025 – 1,045 MBOE/d)
-
Q4 2026 cash capital expenditures guidance of $1,000 – $1,050 million
RECENT HIGHLIGHTS
-
Have repurchased 389,841 shares of common stock in Q4 2026 to date for approximately $73 million
-
On October 1, redeemed all $698 million in aggregate principal amount of the Company’s 2026 Senior Notes at par
-
Repurchased $195 million in aggregate principal amount of 2054 and 2064 Senior Notes at a weighted average price of 91.0% of par ($183 million, including accrued interest)
THIRD QUARTER 2026 OPERATIONS UPDATE
The following tables provide a summary of Diamondback’s key operational updates:
Wells Drilled and Completed:
Three Months Ended September 30, 2026
Nine Months Ended September 30, 2026
Drilled
Completed
Drilled
Completed
Gross
Net
Gross
Net
Gross
Net
Gross
Net
Total
105
100
135
133
320
300
450
427
Gross Wells Drilled and Completed By Zone:
Three Months Ended September 30, 2026
Nine Months Ended September 30, 2026
Number of Wells Drilled
Number of Wells Completed
Number of Wells Drilled
Number of Wells Completed
Midland Basin:
Upper Spraberry
3
2
6
5
Middle Spraberry
5
6
18
26
Jo Mill
17
22
55
84
Lower Spraberry
15
24
55
87
Dean
3
2
5
13
Wolfcamp A
15
36
61
105
Wolfcamp B
24
33
69
104
Wolfcamp D
9
8
27
23
Barnett
14
2
24
3
Midland Basin Total
105
135
320
450
Average Completed Lateral Length (in feet)
13,584
12,251
Realized Average Prices:
Three Months Ended
September 30, 2026
June 30, 2026
September 30, 2025
Oil ($ per Bbl)
$
87.30
$
96.82
$
64.60
Natural gas ($ per Mcf)
$
1.12
$
(2.15
)
$
0.75
Natural gas liquids ($ per Bbl)
$
20.02
$
18.56
$
17.28
Combined price ($ per BOE)
$
51.03
$
51.68
$
39.73
Oil, hedged ($ per Bbl)(1)
$
85.89
$
94.33
$
63.70
Natural gas, hedged ($ per Mcf)(1)
$
0.90
$
(0.34
)
$
1.75
Natural gas liquids, hedged ($ per Bbl)(1)
$
20.02
$
18.56
$
17.28
Combined price, hedged ($ per BOE)(1)
$
50.01
$
52.90
$
40.58
(1) Hedged prices reflect the effect of our commodity derivative transactions on our average sales prices and include gains and losses on cash settlements for matured commodity derivatives, which we do not designate for hedge accounting. Hedged prices exclude gains or losses resulting from the early settlement of commodity derivative contracts.
Average Cash Costs per BOE:
Three Months Ended
September 30, 2026
June 30, 2026
September 30, 2025
Lease operating expenses
$
5.97
$
5.96
$
5.65
Production and ad valorem taxes
3.02
3.26
2.44
Gathering, processing and transportation expense
1.32
1.22
1.41
General and administrative – cash component
0.60
0.52
0.55
Total operating expense – cash
$
10.91
$
10.96
$
10.05
FINANCIAL UPDATE
Earnings Attributable to Diamondback Energy, Inc.:
Three Months Ended September 30, 2026
(in millions, except per share amounts)
Net income (loss) attributable to Diamondback Energy, Inc.
$
1,603
Earnings (loss) per common share attributable to Diamondback Energy, Inc. – Diluted(1)
$
5.69
Adjusted net income(1)
$
1,649
Adjusted net income per common share – Diluted(1)
$
5.86
(1) The C
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
