Welcome to our dedicated page for Diamondback Ener news (Ticker: FANG), a resource for investors and traders seeking the latest updates and insights on Diamondback Ener stock.
Diamondback Energy, Inc. (FANG) is an independent oil and gas producer focused exclusively on developing unconventional resources within the Permian Basin. This page provides authorized news updates and verified developments directly from the company and trusted industry sources.
Access real-time announcements including quarterly earnings disclosures, operational milestones, and strategic initiatives like acreage acquisitions. Investors will find essential updates on production efficiencies, resource development progress, and financial performance metrics.
All content undergoes strict verification to ensure compliance with financial reporting standards. Bookmark this page for immediate access to merger announcements, leadership updates, and technical innovations driving Diamondback's low-cost production model.
Verde Clean Fuels (NASDAQ: VGAS) has selected Chemex Global to lead the front-end engineering and design (FEED) phase for a proposed natural gas-to-gasoline facility in the Permian Basin. This project, developed in partnership with Diamondback Energy's subsidiary Cottonmouth Ventures, aims to convert natural gas using Verde's proprietary STG+ technology. The facility is expected to produce 2,900 barrels per day of gasoline and mitigate flaring of up to 34 million cubic feet of gas daily. FEED work is set to begin now, with completion expected in early 2025, followed by engineering, procurement, and construction phases targeting a 2027 finish.
Deep Blue Midland Basin, a joint venture between Diamondback Energy and Five Point Energy, has acquired Lagoon Operating - Midland. This acquisition strengthens Deep Blue's presence in the Midland Basin with assets in Martin County, including 105 miles of large-diameter pipeline, 240,000 bpd disposal capacity, and 544,000 bpd additional permitted capacity. The acquisition enhances Deep Blue's recycling capabilities and includes 60,000 dedicated acres from seven new counterparties. Post-acquisition, the company has 2.5 million bpd disposal capacity and over 1,000 miles of pipeline. The deal underscores Deep Blue's leadership in sustainable water management.
Diamondback Energy (NASDAQ: FANG) has announced the sale of WTG Midstream Holdings to Energy Transfer LP for approximately $375 million, subject to customary closing conditions and adjustments. The transaction, expected to close in Q3 2024, includes a mix of cash and ET common units. Diamondback has held a 25% stake in WTG Midstream through its subsidiary Rattler Midstream LP since October 2021, and the sale represents a 3.5x return on invested capital. The proceeds will be used to reduce debt related to the merger with Endeavor Energy Resources. CEO Travis Stice highlighted the successful economic return and ongoing support for Diamondback's activities.
Diamondback Energy, Inc. issued a letter to stockholders as a supplement to their earnings release. The letter provides important information to stockholders and is being shared with the SEC and stockholders simultaneously with the earnings release.
Diamondback Energy, Inc. reported strong financial and operating results for the first quarter of 2024. The company achieved an average production of 273.3 MBO/d, with net cash provided by operating activities of $1.3 billion. They also declared a base cash dividend of $0.90 per share and a variable cash dividend of $1.07 per share. Diamondback repurchased shares and announced a merger with Endeavor Energy Resources, L.P. Despite the positive performance, debt levels increased, impacting net debt. The company provided guidance for 2024, showcasing continued operational excellence.
FAQ
What is the current stock price of Diamondback Ener (FANG)?
What is the market cap of Diamondback Ener (FANG)?
