Diamondback Q3 Oil Output Hits 525 Mbo/d, Beats Guidance Midpoint; FY Capex Trimmed to $3.95B-$4B
FANG sits 47% above its 52-week low of $137.03.
Summary
Diamondback's Q3 oil production averaged 525 Mbo/d, flat versus Q2 but above the midpoint of its own guidance, while total production rose 2% quarter over quarter to 1,034 Mboe/d. The company also reset full-year 2026 oil guidance to roughly 524 Mbo/d and narrowed capex to $3.95 billion-$4 billion. For Q4 it guided oil output of 518-528 Mbo/d and capex of $1 billion-$1.05 billion. These operational numbers come alongside the already-reported $1.6 billion net income, $2.1 billion free cash flow and the dividend hike to $4.72 a share, so the incremental read is steady volumes plus disciplined spending rather than a surprise.
At the time of this announcement, FANG was trading at $201.25 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $55.9B. The 52-week trading range was $137.03 to $216.90. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.