Letter to Stockholders Issued by Diamondback Energy, Inc.
Diamondback achieved a milestone by producing over 1 million barrels of oil equivalent per day in the second quarter, exceeding guidance with oil production averaging 525 MBO/d. The company generated $2.3 billion in free cash flow, enabling it to reduce consolidated net debt by $1.6 billion to $12.3 billion and double its share repurchase authorization to $16.0 billion.
Key figures
- Fcf
- 2300000000
- Guidance
- FY26 oil production 522+ MBO/d (from 520+), total production 1,000+ MBOE/d (from 972+); capex remains ~$3.90B
- Capex q2
- 996000000
- Net debt
- 12300000000
- Total debt
- 12800000000
- Cash ga per boe
- 0.52
- Buyback authorization
- 16000000000
- Production oil mbo pd
- 525
- Production total mboe pd
- 1018
- Lease operating expense per boe
- 5.96
- Net cash from operating activities
- 3600000000
AI analysis
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