Diamondback Energy Announces Financial Results for Q4 and Full Year 2024

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released its financial and operating results for the fourth quarter and full year 2024, highlighting a significant increase in average production, substantial cash flow, and a notable rise in the annual base dividend. The company reported an average production of 475.9 MBO/d for Q4 2024 and 337.0 MBO/d for the full year, with net cash provided by operating activities amounting to $2.3 billion for Q4 and $6.4 billion for the full year. Diamondback also increased its annual base dividend by 11% to $4.00 per share. The company's financial statements and operational updates were furnished as exhibits to this report.

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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.