iamondback is exploring opportunities to create local markets, such as the Verde gas-to-gasoline plant, to avoid selling gas at low or negative prices.
In the first half of 2024, Diamondback Energy increased its production guidance and lowered its annual capex due to improved operational efficiencies. The merger with Endeavor Energy Resources is progressing, with expected closure in Q3 or Q4. Q2 highlights include drilling 80 wells, exceeding production guidance with 276.1 MBO/d, and generating $841 million in Adjusted Free Cash Flow. The company declared dividends totaling $2.34 per share and repurchased 19.3 million shares, with a strong focus on cost control and capital discipline.
Diamondback Energy (FANG) has been highlighted as the IBD Stock of the Day, nearing a buy point amidst a recovery in oil prices and rising demand heading into the July Fourth holiday.
Diamondback Energy’s FANG joint venture (JV) with Five Point Energy LLC, Deep Blue Midland Basin, has acquired the water infrastructure assets from Lagoon Operating Midland. The acquisition underscores the JV’s commitment to sustainable water management practices at the heart of the Midland Basin. The financial details of the transaction have not been disclosed.
Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) today announced the sale of WTG Midstream Holdings LLC to Energy Transfer LP
Diamondback Energy’s natural gas operations, noting a decrease in natural gas realizations quarter over quarter due to lower pricing, particularly in the context of declining WAHA basis pricing. Despite this, the company has the majority of its basis exposure hedged to protect its cash flow stream.
Diamondback Energy’s completion activities, emphasizing efficiency and cost-effectiveness. It mentions the use of four simulfrac crews, including both diesel-powered and e-fleets
Diamondback Energy Inc. will borrow a page from the shale-consolidation playbook by cutting drilling rigs after its acquisition of competitor Endeavor Energy Resources LP, a move that will help satisfy investors.
U.S. oil and gas companies including Diamondback Energy Inc. are considering small nuclear reactors to power drilling operations in Texas’s Permian basin, a move aimed at cutting carbon emissions and ensuring reliable access to electricity.
During the fourth quarter of 2023, Diamondback drilled 80 gross wells in the Midland Basin and four gross wells in the Delaware Basin. The Company turned 50 operated wells to production in the Midland Basin and nine gross well in the Delaware Basin with an average lateral length of 11,457 feet.
