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Last $64.52 USD
Change Today -3.77 / -5.52%
Volume 1.5M
FANG On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

diamondback energy inc (FANG) Snapshot

Open
$66.39
Previous Close
$68.29
Day High
$67.89
Day Low
$63.69
52 Week High
09/2/14 - $86.72
52 Week Low
12/15/14 - $51.69
Market Cap
4.3B
Average Volume 10 Days
1.5M
EPS TTM
$1.89
Shares Outstanding
66.2M
EX-Date
--
P/E TM
34.2x
Dividend
--
Dividend Yield
--
Current Stock Chart for DIAMONDBACK ENERGY INC (FANG)

diamondback energy inc (FANG) Related Businessweek News

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diamondback energy inc (FANG) Details

Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn, and Atoka formations. As of December 31, 2014, the company acquired net acreage position of approximately 85,369 acres in the Permian Basin; and estimated proved oil and natural gas reserves were 112,832 thousand barrels of crude oil equivalent, as well as owned interests in 596 net productive wells. It also owns mineral interests underlying approximately 24,528 gross acres in the Permian Basin. The company was founded in 2007 and is headquartered in Midland, Texas.

114 Employees
Last Reported Date: 02/20/15
Founded in 2007

diamondback energy inc (FANG) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $717.2K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $295.0K
Chief Operating Officer and Vice President
Total Annual Compensation: $350.0K
Vice President of Business Development & Land
Total Annual Compensation: $267.5K
Vice President of Operations
Total Annual Compensation: $700.5K
Compensation as of Fiscal Year 2014.

diamondback energy inc (FANG) Key Developments

Diamondback Energy, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year of 2015; Reports Impairment Charge for the Second Quarter of 2015

Diamondback Energy, Inc. reported unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported Oil and natural gas revenues of $119,063,000 compared to $127,004,000 a year ago. Loss from operations was $299,120,000 compared to income from operations of $63,192,000 a year ago. Loss before income tax was $328,084,000 compared to income before income tax of $42,987,000 a year ago. Net loss was $211,352,000 compared to net income of $27,824,000 a year ago. Net loss attributable to the company of $212,287,000 compared to net income attributable to the company of $27,753,000 a year ago. Diluted loss per share was $3.45 compared to diluted earnings per share of $0.54 a year ago. Adjusted EBITDA was $109,577,000 compared to $103,067,000 a year ago. Adjusted net income was $25,177,000 compared to $33,498,000 a year ago. Diluted adjusted earnings per share of $0.41 compared to $0.65 a year ago. Capital spent for drilling, completion and infrastructure was approximately $85.5 million. For the six months, the company reported Oil and natural gas revenues of $220,464,000 compared to $225,008,000 a year ago. Loss from operations was $297,683,000 compared to income from operations of $111,255,000 a year ago. Loss before income tax was $318,275,000 compared to income before income tax of $80,177,000 a year ago. Net loss was $204,913,000 compared to net income of $51,413,000 a year ago. Net loss attributable to the company of $206,438,000 compared to net income attributable to the company of $51,342,000 a year ago. Diluted loss per share was $3.44 compared to diluted earnings per share of $1.02 a year ago. Adjusted EBITDA was $218,098,000 compared to $184,395,000 a year ago. Adjusted net income was $47,296,000 compared to $59,243,000 a year ago. Diluted adjusted earnings per share of $0.79 compared to $1.18 a year ago. For the quarter, the company’s production was 30.0 Mboe/d (74% oil), up 68% from 17.8 Mboe/d (75% oil) in second quarter of 2014. Diamondback drilled an approximately 8,000 foot lateral well in Andrews County in approximately 10 days from spud to total depth. Average daily production was 29,972 BOE/d compared to 17,836 BOE/d for the same period a year ago. Thirteen horizontal wells were completed in the second quarter of 2015, bringing the year to date total to 31 wells. Of the 13 total wells,10 Lower Spraberry wells had sufficient production history for an average peak 24-hour IP rate of 1,386 boe/d (89% oil) from an average lateral length of 6,298 feet. Additionally, during the three months ended June 30, 2015, three Wolfcamp B wells were completed with an average peak 24-hour IP rate of 1,218 boe/d (85% oil) from an average lateral length of 7,803 feet. For the six months, the company’s average daily production was 30,302 (BOE/d0) compared to 15,706 (BOE/d) a year ago. The company provides earnings and operating guidance for the full year of 2015. For the period, the company expects to complete 60 to 70 gross (49 to 57 net) horizontal wells in 2015, from prior guidance range of 55 to 65 gross (45 to 53 net) horizontal wells. The company has also raised its production guidance for 2015 from a range of 29.0 to 31.0 Mboe/d to a range of 30.0 to 32.0 Mboe/d. The company continues to expect capital spend in 2015 at the high end of the $400 to $450 million. As a result of the impairment charge recorded in second quarter of 2015, the Company has revised its guidance for depreciation, depletion and amortization expense for 2015 to range from $19.00 to $21.00 per boe from prior guidance range of $20.00 to $22.00 per boe. During the second quarter of 2015, the company incurred an impairment charge of $323.5 million due to the decline in oil prices.

Diamondback Energy, Inc. to Report Q2, 2015 Results on Aug 05, 2015

Diamondback Energy, Inc. announced that they will report Q2, 2015 results After-Market on Aug 05, 2015

Diamondback Energy Mulls Acquisitions

Diamondback Energy, Inc. (NasdaqGS:FANG) is seeking acquisitions. Travis Stice, Chief Executive Officer of Diamondback said, "During the second quarter of 2015, our LOE decreased by nearly 25% to $7.51/boe from a high of $9.79/boe in the fourth quarter of 2014 as our operations team continues to optimize recently acquired vertical wells. Diamondback's execution performance, low cost operations, and strong balance sheet position us favorably to take advantage of opportunities to acquire additional properties."

 

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TEV/Sales 6.9x
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