Diamondback Energy Inc.
Diamondback Energy Reports Q4 2023 Financial Performance
Summary
Diamondback Energy, Inc. reported its financial performance for the quarter ended December 31, 2023, with average unhedged realized prices of $76.42 per barrel of oil, $1.29 per Mcf of natural gas, and $19.96 per barrel of NGLs. Hedged prices were slightly lower, reflecting the impact of derivative transactions. The company anticipates a net loss on cash settlements for derivative instruments of $48 million and a net gain on non-cash derivative instruments of $147 million. The basic and diluted weighted average shares outstanding were 178,811 thousand each.
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About Diamondback Energy Inc.
Diamondback Energy Inc. is a publicly traded company that engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas. Its primary function is to extract hydrocarbon resources, which includes both crude oil and natural gas, through advanced drilling and recovery techniques. Diamondback Energy leverages its extensive portfolio of assets across the prolific Permian Basin, which is renowned for its rich oil and gas deposits and low-cost production benefits. The company plays a significant role in the energy sector by providing essential natural resources that fuel modern economies. Its strategic focus on high-margin assets and efficient operational practices make it a notable player in the United States energy market. Diamondback's operations impact sectors involved in energy supply, industrial production, and transportation. Headquartered in Midland, Texas, Diamondback Energy is committed to sustainable growth and maximizing shareholder value, ensuring its ongoing contribution to the energy landscape and the broader commodities market.
Official SEC Documents
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