Diamondback Energy, Inc.

Company facts

Industry

Crude Petroleum & Natural Gas

Headquarters

Midland, Texas

Most recent report

10-Q, filed Aug 5, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1539838

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 6 positive, 10 notable, and 1 negative flags.

• Financial Statements (Item 1)

  Higher net income, $1.4B impairment, debt paydown, huge buyback increase.
  Positive

  • Board increased stock repurchase authorization from $8.0B to $16.0B on July 30, 2026, with $9.9B remaining.
  Notable

  • Related-party SGF stake fell to 26.7% of outstanding stock as of June 30, 2026, from 30.2% at March 31.

• Management's Discussion (Item 2)

  Dense with results, debt paydown, buyback increase, and new transactions. Essential for investors.
  Positive

  • Record net income of $1.9 billion in Q2 2026, up from $25 million in Q1.
  • Retired $828M of senior notes and $550M term loan in Q2, reducing debt.
  • Production hit 1,017.7 MBOE/d, surpassing 1.0M BOE/d milestone.
  • Board doubled stock repurchase authorization from $8B to $16B on July 30.
  • Annual production guidance raised 3% to approximately 1,000 MBOE/d.
  Notable

  • Cash operating costs of $10.96 per BOE in Q2 2026.
  • Cash capex $996 million in Q2 2026, excluding acquisitions.
  • Paid $311 million in dividends in Q2, declared $1.10/sh for Q3.
  • Repurchased $141 million of common stock in Q2 2026.
  • Drilled 97 wells and turned 168 to production in Midland Basin.
  • Pending drop down to Viper of mineral/royalty interests for 3.65M units.
  • Liquidity $3.4B; $1.5B of senior notes mature in 12 months.
  • Board removed the 50% minimum quarterly return of capital commitment.
  Negative

  • Natural gas realizations negative due to Waha basis differentials, causing $276M loss in Q2.

• Unregistered Sales and Repurchases (Item 2)

  Buyback pace slowed sharply in Q2; board doubled authorization to $16B after quarter end.
  Notable

  • 444 of 756 shares repurchased were from executives for tax withholding; only 312 shares were open-market.

What changed: Jun 2026 vs. Mar 2026

About 15% of FANG's Jun 2026 10-Q is new information. 66 paragraphs were added, 176 changed, and 57 removed. Below are the most important lines SECSift identified.

• Item 2 81
• Item 1 64
• Item 6 16
• Item 5 10
• Item 4 3
• Item 3 1