Diamondback Energy, Inc. reports news as an independent oil and natural gas company focused on unconventional, onshore reserves in the Permian Basin of West Texas. Updates center on oil, natural gas and NGL production, realized prices, commodity derivatives, cash capital expenditures, free cash flow, and production guidance.
Recurring FANG developments also include capital allocation through base cash dividends and common-stock repurchases, shareholder letters on commodity-market conditions and operating flexibility, public offerings involving common stock, and liability-management actions such as tender offers for senior notes.
Diamondback Energy (NASDAQ: FANG) reported third-quarter 2026 net income attributable to the company of $1,603 million and raised its base dividend. Diluted earnings were $5.69, versus $3.51 a year earlier, while revenue rose to $5,431 million from $3,924 million. The quarterly dividend increased 7.3% to $1.18 per share, payable November 19, 2026.
Operating cash flow was $2,599 million and cash capital spending was $1,026 million. Oil production averaged 525 thousand barrels daily. Diamondback raised its 2026 oil production outlook to approximately 524 thousand barrels daily from 522+ thousand, alongside a higher capital budget of $3,950–$4,000 million, from approximately $3,900 million. Third-quarter share repurchases cost approximately $251 million. The company redeemed $698 million of 2026 notes on October 1 and acquired a 7.5% interest in the Solitude Pipeline System.
Diamondback Energy (FANG) reported third-quarter oil production of 525 thousand barrels per day, flat sequentially and above its guidance midpoint. Total production rose 2% quarter over quarter to 1,034 thousand barrels of oil equivalent per day. Cash capital spending was $1.03 billion, within guidance.
Updated 2026 guidance calls for approximately 524 thousand barrels of oil daily, approximately 1,015 thousand barrels of oil equivalent daily and approximately $3.95 billion to $4.00 billion in capital spending. Barnett acreage reached 224,000 net acres, up 12% since February, while drilling costs per lateral foot fell over 10% year to date. A WhiteWater-led consortium including Diamondback reached a final investment decision on the Solitude pipeline, set to enter service in the second half of 2029. Diamondback is also pursuing oil-recovery pilots and partnerships linked to West Texas data centers and power.
Viper Energy (NASDAQ:VNOM) reported third-quarter 2026 net income of $300 million alongside acquisitions and a higher full-year production outlook. Net income margin was 45%, operating cash flow was $447 million and non-GAAP free cash flow was $520 million. Oil production averaged 69,076 barrels daily, up more than 6% quarter over quarter.
Viper completed the approximately $529 million McElroy Ranch Acquisition, including $49 million of deferred consideration. Its pending Buckhorn purchase calls for $280 million cash and approximately 1.8 million Class A shares, with closing expected in Q4 2026. Viper raised full-year oil production guidance to 67,250–67,750 barrels daily, including Buckhorn. It declared an increased $0.50 base dividend, payable November 19, 2026, and repurchased approximately $90 million of shares in Q3. Total debt and net debt were each $2.4 billion at September 30.
Viper Energy (NASDAQ: VNOM) plans to release its third-quarter 2026 financial results after the market closes on November 2, 2026. The company will host an investor and analyst conference call and webcast on November 3, 2026, at 10:00 a.m. CT to discuss the results. The live webcast and a replay following the call will be available through Viper’s website.
Diamondback Energy (FANG) plans to release its third-quarter 2026 financial results on November 2, 2026, after the market closes. The company will host an investor and analyst conference call and webcast on November 3, 2026, at 8:00 a.m. CT to discuss the results. The live webcast will be available through its website’s Investor Relations section, with a replay available following the call.
WhiteWater and partners announced that their Solitude Pipeline System joint venture, including Devon Energy (NYSE: DVN), MPLX (NYSE: MPLX), Diamondback Energy (NASDAQ: FANG) and Western Midstream Partners (NYSE: WES), has reached a positive Final Investment Decision to build two 48-inch natural gas pipelines from the Permian Basin to Katy, Texas.
The project is backed by substantial long-term firm transportation agreements with predominantly investment-grade shippers. Solitude’s phased design targets initial capacity of about 2.25 Bcf/d in late 2029 and an additional 2.25 Bcf/d in 2030, with potential further expansions. Service is expected in the second half of 2029, subject to customary regulatory and other approvals. The joint venture ownership is WhiteWater 50%, Devon 25%, MPLX 10%, Diamondback 7.5% and Western Midstream 7.5%.
Diamondback Energy (NASDAQ:FANG) issued a letter to stockholders alongside its Q2 2026 results, highlighting record scale and capital returns. Second-quarter oil production averaged 525 MBO/d, at the top of guidance, with total production of 1,018 MBOE/d, pushing average output above one million BOE/d for the first time in the company’s history. Full-year oil and total production guidance were raised to 522+ MBO/d and 1,000+ MBOE/d, while capex guidance remains about $3.9 billion.
Diamondback reported $3.6 billion in net cash from operating activities and $2.3 billion of Free Cash Flow in Q2. Per-share net cash from operations, Free Cash Flow and oil production grew 49%, 81% and 21% respectively versus Q2 2024. Lease operating expense fell to $5.96/BOE and cash G&A to $0.52/BOE, reducing total cash operating expense to $10.96/BOE.
The company accelerated deleveraging after removing its formulaic return framework, cutting consolidated total debt by $1.3 billion QoQ to $12.8 billion and net debt by $1.6 billion to $12.3 billion. Over the past 12 months, total and net debt declined by $2.6 billion (~17%) and $2.8 billion (~19%). Diamondback’s board doubled the share repurchase authorization to $16.0 billion; since 2021, the company has repurchased ~43 million shares for $6.1 billion. Q2 gas realizations were pressured to −$2.15/Mcf (pre-hedge) by Permian takeaway constraints, but new capacity turned Waha pricing positive in July.
Viper Energy (NASDAQ:VNOM), a subsidiary of Diamondback Energy (NASDAQ:FANG), reported Q2 2026 average production of 65,077 bo/d (134,363 boe/d), total operating income of $677 million and consolidated net income of $331 million, including $142 million attributable to Viper, or $0.73 per Class A share. Cash available for distribution was $262 million, or $1.37 per Class A share.
The Board declared a Q2 2026 base dividend of $0.38 and variable dividend of $0.29 per Class A share and approved, effective Q3 2026, a 32% increase in the annual base dividend to $2.00 per share. Viper returned $197 million (75% of cash available for distribution) via dividends and buybacks, including repurchasing 3.0 million Class A shares for $132 million. The company closed the Riverbend Oil & Gas IX acquisition on July 1, 2026, agreed to acquire additional mineral and royalty interests from Diamondback subsidiaries for 3.7 million OpCo Units and Class B shares, increased 2026 production guidance, and ended Q2 with $77 million in cash, $1.7 billion of debt and about $2.0 billion of total liquidity.
Diamondback Energy (NASDAQ:FANG) reported second quarter 2026 net income attributable to the company of $1.88 billion, or $6.65 diluted EPS, on total revenues of $5.56 billion versus $3.68 billion a year earlier. Consolidated Adjusted EBITDA was $3.94 billion, with Free Cash Flow of $2.33 billion and cash capital expenditures of $996 million.
Average Q2 production was 525 MBO/d and 1,018 MBOE/d. Diamondback reduced consolidated total debt to $12.77 billion and net debt to $12.30 billion, and reported standalone liquidity of $3.39 billion after expanding its credit facility to $3.0 billion and extending maturity to 2031.
The Board declared a $1.10 per share base dividend and repurchased 756,385 shares for $141 million in Q2, then increased share repurchase authorization to $16.0 billion with about $9.9 billion remaining. Full-year 2026 oil production guidance was raised to 522+ MBO/d and total production to 1,000+ MBOE/d while keeping the ~$3.9 billion capital budget unchanged.
Diamondback Energy (NASDAQ:FANG) plans to release its second quarter 2026 financial results on August 3, 2026, after the market close. The company will host an earnings conference call and live webcast on August 4, 2026 at 8:00 a.m. CT for investors and analysts.
The webcast and subsequent replay will be accessible through the Investor Relations section of Diamondback's website.