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Diamondback Energy (NASDAQ: FANG) details Q2 2026 realized prices and $113M hedge gain

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Filing Sentiment
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Form Type
8-K

Rhea-AI Filing Summary

Diamondback Energy, Inc. provides an operational update for the quarter ended June 30, 2026, covering realized commodity prices, derivative results, and share count. Average unhedged realized prices were $96.82 per barrel of oil, $(2.15) per Mcf of natural gas, and $18.56 per barrel of NGLs. With commodity derivative effects included, average realized hedged prices were $94.33 per barrel of oil, $(0.34) per Mcf of natural gas, and $18.56 per barrel of NGLs.

For the second quarter of 2026, Diamondback anticipates a $113 million net gain on cash settlements for derivative instruments and a $64 million net non-cash loss on derivative instruments, resulting in a reported net gain on derivative instruments of $49 million. Basic and diluted weighted average shares outstanding for the quarter were both 281,202 thousand, providing the share base used for per-share metrics.

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Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Unhedged oil price $96.82 per barrel Average unhedged realized oil price, second quarter 2026
Unhedged natural gas price $(2.15) per Mcf Average unhedged realized natural gas price, second quarter 2026
Unhedged NGL price $18.56 per barrel Average unhedged realized NGL price, second quarter 2026
Hedged oil price $94.33 per barrel Average realized hedged oil price including derivative settlements, Q2 2026
Net cash gain on derivative settlements $113 million Anticipated net gain on cash settlements for derivative instruments, Q2 2026
Net non-cash derivative loss $64 million Anticipated net non-cash loss on derivative instruments, Q2 2026
Net gain on derivative instruments $49 million Gain (loss) on derivative instruments, net, commodity contracts, Q2 2026
Weighted average shares 281,202 thousand Basic and diluted weighted average shares outstanding, Q2 2026
commodity derivative transactions financial
"Hedged prices reflect the effect of our commodity derivative transactions on our average sales prices"
hedged prices financial
"Second quarter 2026 average realized hedged prices were $94.33 per barrel of oil"
net non-cash loss financial
"anticipates a net gain on cash settlements ... and a net non-cash loss on derivative instruments of $64 million"
weighted average shares outstanding financial
"basic and diluted weighted average shares outstanding are as follows"
The weighted average shares outstanding is the average number of a company’s common shares that were available during a reporting period, adjusted so each change (like new shares issued or shares bought back) counts only for the portion of the period it was in effect. Investors use it to calculate per-share measures such as earnings per share, so it shows how ownership dilution or buybacks affect what each share is entitled to—like averaging how many people were at a potluck over time to determine each person’s share of the food.
forward-looking statements regulatory
"This news release contains “forward-looking statements” within the meaning of Section 27A"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
hydraulic fracturing technical
"federal and state legislative and regulatory initiatives relating to hydraulic fracturing"
Hydraulic fracturing is a method for extracting oil and natural gas that involves injecting pressurized fluid and small solid particles into underground rock to create and hold open tiny cracks, allowing trapped fuel to flow to a well. For investors, it matters because successful fracturing can sharply increase a well’s output and revenue potential, while also carrying higher upfront costs, regulatory scrutiny, and environmental risks that can affect a company’s value.
Average unhedged oil price $96.82 per barrel
Average unhedged natural gas price $(2.15) per Mcf
Net cash gain on derivative settlements $113 million
Weighted average diluted shares 281,202 thousand
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FAQ

What realized commodity prices did Diamondback Energy (FANG) report for Q2 2026?
Diamondback reported unhedged Q2 2026 prices of $96.82 per barrel of oil, $(2.15) per Mcf of natural gas, and $18.56 per barrel of NGLs, showing the average prices actually received before derivative effects.

How did hedging affect Diamondback Energy (FANG) Q2 2026 realized prices?
Including commodity derivatives, Diamondback’s Q2 2026 hedged prices averaged $94.33 per barrel of oil, $(0.34) per Mcf of natural gas, and $18.56 per barrel of NGLs, reflecting cash gains and losses on settled derivative contracts.

What derivative gains or losses did Diamondback Energy (FANG) expect for Q2 2026?
For Q2 2026, Diamondback anticipates a $113 million net gain on cash settlements for derivative instruments and a $64 million net non-cash loss, resulting in a reported net derivative gain of $49 million on commodity contracts.

What were Diamondback Energy’s (FANG) Q2 2026 weighted average shares outstanding?
For Q2 2026, Diamondback’s basic and diluted weighted average shares outstanding were both 281,202 thousand. This share count is used to calculate per-share figures such as earnings per share in related financial statements.

Does Diamondback Energy (FANG) provide forward-looking statements in this Q2 2026 update?
Yes. The company includes forward-looking statements about future performance, strategy, operations, reserves, transactions, and environmental initiatives, and highlights numerous risks and uncertainties that could cause actual results to differ materially.
false000153983800015398382026-07-132026-07-13

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 13, 2026
___________
DIAMONDBACK ENERGY, INC.
(Exact Name of Registrant as Specified in Charter)
DE
001-35700
45-4502447
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
500 West Texas Ave.
Suite 100
Midland, TX
79701
(Address of principal
executive offices)
(Zip Code)
(432) 221-7400
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per share
FANGThe Nasdaq Stock Market LLC
(NASDAQ Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐


Item 2.02. Results of Operations and Financial Condition.
 
Diamondback Energy, Inc. (“Diamondback”) presents in this Item 2.02 certain information for the quarter ended June 30, 2026 regarding its realized prices, derivative activity and weighted average basic and diluted shares outstanding.

Realized Prices

Second quarter 2026 average unhedged realized prices were $96.82 per barrel of oil, $(2.15) per Mcf of natural gas and $18.56 per barrel of natural gas liquids (“NGLs”).

Second quarter 2026 average realized hedged prices were $94.33 per barrel of oil, $(0.34) per Mcf of natural gas and $18.56 per barrel of NGLs.

Average Prices:
Oil ($ per Bbl)$96.82 
Natural gas ($ per Mcf)$(2.15)
Natural gas liquids ($ per Bbl)$18.56 
Oil, hedged ($ per Bbl)(1)
$94.33 
Natural gas, hedged ($ per Mcf)(1)
$(0.34)
Natural gas liquids, hedged ($ per Bbl)(1)
$18.56 
(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.

Derivative Activity

For the second quarter of 2026, Diamondback anticipates a net gain on cash settlements for derivative instruments of $113 million and a net non-cash loss on derivative instruments of $64 million as detailed in the table below (in millions):

Gain (loss) on derivative instruments, net:
Commodity contracts(1)
$49 
Net cash received (paid) on settlements:
Commodity contracts(1)
$113 
(1)Includes cash received on commodity contracts terminated prior to their contractual maturity of $1 million.

Weighted Average Basic and Diluted Shares Outstanding

For the second quarter of 2026, basic and diluted weighted average shares outstanding are as follows (in thousands):

Basic weighted average shares outstanding281,202 
Diluted weighted average shares outstanding281,202 



Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s: future performance; business strategy; future operations (including drilling plans and capital plans); estimates and projections of revenues, losses, costs, expenses, returns, cash flow, and financial position; reserve estimates and its ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the Sitio acquisition completed by Diamondback's subsidiary, Viper Energy, Inc. and other acquisitions, divestitures or reorganizations); and plans and objectives of management (including plans for future cash flow from operations and for executing environmental strategies) are forward-looking statements. When used in this news release, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements.

Factors that could cause the outcomes to differ materially include (but are not limited to) the following: geopolitics and market conditions, including changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; changes in U.S. energy, environmental, monetary and trade policies, including with respect to tariffs or other trade barriers and any resulting trade tensions; actions taken by the members of OPEC and its non-OPEC allies (OPEC+) affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments; changes in general economic, business or industry conditions, including changes in foreign currency exchange rates, interest rates, inflation rates, and instability in the financial markets; regional supply and demand factors, including delays, curtailment delays or interruptions of production, or governmental orders, rules or regulations that impose production limits; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change, changing political and social perspectives on climate change and other environmental, social and governance factors, and risks from our publicly disclosed targets related to sustainability and emissions reduction initiatives; those risks described in Item 1A of Diamondback’s Annual Report on Form 10-K, filed with the SEC on February 25, 2026, and those risks disclosed in its subsequent filings on Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the SEC’s website at http://www.sec.gov and Diamondback’s website at www.diamondbackenergy.com/investors.

In light of these factors, the events anticipated by Diamondback’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Diamondback operates in a very competitive and rapidly changing environment and new risks emerge from time to time. Diamondback cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements. All forward-looking statements speak only as of the date of this release or, if earlier, as of the date they were made. Diamondback does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.



SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DIAMONDBACK ENERGY, INC.
Date:July 13, 2026
By:/s/ Teresa L. Dick
Name:Teresa L. Dick
Title:Executive Vice President, Chief Accounting Officer and Assistant Secretary



Source: View Original Filing on SEC EDGAR

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