Quarterly ResultAug 3, 2026, 04:04 PM
Diamondback Q2 Production 1.02 MBOE/d; Raises Guidance, Doubles Buyback
AI Summary
Diamondback Energy reported strong second-quarter 2026 results, with average oil production reaching 525 MBO/d and total production surpassing 1.0 million BOE/d at 1,018 MBOE/d. The company generated $3.6 billion in net cash from operating activities and $2.3 billion in free cash flow. Diamondback also increased its full-year 2026 production guidance and announced a doubling of its share repurchase authorization to $16.0 billion, underscoring its commitment to shareholder returns and financial strength.
Key Highlights
- Q2 2026 average oil production was 525 MBO/d.
- Total production reached 1,018 MBOE/d, surpassing 1.0 million BOE/d.
- Net cash provided by operating activities was $3.6 billion, with $2.3 billion in Free Cash Flow.
- Repurchased 756,385 shares for approximately $141 million in Q2 2026.
- Declared a base cash dividend of $1.10 per share.
- Reduced total debt by approximately $1.3 billion to $12.8 billion.
- Doubled share repurchase authorization to $16.0 billion, with $9.9 billion remaining.
- Increased annual oil production guidance to 522+ MBO/d and total BOE to 1,000+ MBOE/d.
Price Impact
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