Diamondback Energy Inc.
Diamondback Energy Reports 2023 Results and Announces Dividends
Summary
Diamondback Energy, Inc. reported financial and operating results for Q4 and full year 2023, including a net income of $960 million for Q4 and $3.3 billion for the full year. The company generated $5.9 billion in net cash from operating activities for 2023. Diamondback also declared a Q4 2023 base dividend of $0.90 per share and a variable dividend of $2.18 per share, payable on March 12, 2024. Additionally, the company repurchased shares worth $129 million in Q4 2023. Looking ahead, Diamondback expects full-year 2024 oil production between 270-275 MBO/d.
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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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