Welcome to our dedicated page for Diamondback Energy news (Ticker: FANG), a resource for investors and traders seeking the latest updates and insights on Diamondback Energy stock.
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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
On March 28, 2023, Michael P. Cross announced his decision not to seek re-election to the Board of Directors of Diamondback Energy (NASDAQ: FANG) during the upcoming Annual Meeting. A board member since the company's IPO, Cross is retiring and has cited no disagreements with the company. His tenure included participation in key committees, contributing significantly to the company's growth and strategic direction throughout his service. CEO Travis Stice praised Cross for his invaluable contributions and dedication over the past decade.
Diamondback Energy, Inc. (NASDAQ: FANG) has announced plans to release its first quarter 2023 financial results on May 1, 2023, after the market closes. The company will host a conference call and webcast for investors and analysts on May 2, 2023, at 8:00 a.m. CT to discuss these results. Interested parties can access the call and a replay through the company's website. Diamondback focuses on the acquisition and development of unconventional, onshore oil and gas reserves in the Permian Basin in West Texas.
Diamondback Energy (NASDAQ: FANG) announced its participation in the Oil and Gas Methane Partnership 2.0 (OGMP 2.0), a UN initiative aimed at improving methane emissions reporting in the oil and gas sector. CEO Travis Stice emphasized the importance of reliable emission reduction frameworks, as the company commits to implementing continuous emissions monitoring on 90% of its facilities by the year's end. Additionally, Diamondback targets a 70% reduction in methane intensity from 2019 levels by 2024, showcasing its dedication to environmental accountability.
Diamondback Energy (NASDAQ: FANG) reported strong fourth quarter and full year 2022 results. Average production reached 226.1 MBO/d, generating $1.44 billion in net cash from operations. The company increased its annual base dividend by 7% to $3.20 per share, with a Q4 dividend of $0.80 per share payable on March 10, 2023, reflecting an annualized yield of 2.4%. Diamondback also declared a variable cash dividend of $2.15 per share. The firm repurchased 2.34 million shares for $316 million and reported a total return of capital of $861 million. Furthermore, it completed key acquisitions to enhance its asset base, leading to robust Free Cash Flow of $1.13 billion for Q4 and $4.59 billion for the year.
Diamondback Energy (NASDAQ: FANG) has finalized its acquisition of all leasehold interests and associated assets of Lario Permian, LLC, a subsidiary of Lario Oil & Gas Company, effective January 31, 2023. This strategic move aims to enhance Diamondback's resource base and operational capacity in the Permian Basin, a key area for unconventional oil and natural gas reserves.
The acquisition reflects Diamondback's commitment to growth and efficiency in its ongoing exploration and production activities. For further details, visit Diamondback's website.
Diamondback Energy, Inc. (NASDAQ: FANG) announced plans to release its fourth quarter 2022 financial results on February 21, 2023, after market close. A conference call and webcast for investors to discuss the results will follow on February 22, 2023, at 8:00 a.m. CT. The webcast can be accessed via Diamondback's website and will be available for replay afterwards. Diamondback Energy, headquartered in Midland, Texas, focuses on the acquisition and development of onshore oil and gas reserves in the Permian Basin.