Diamondback Energy Inc

For the period ended Dec 31, 2023. Filed Feb 22, 2024.

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FY2023 · Filed Feb 22, 2024

FANG$178.08-0.1%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Operations and Comprehensive Income

	Year Ended December 31,
	2023	2022	2021
(In millions, except per share amounts, shares in thousands)
Revenues:
Oil sales	$7,279	$7,660	$5,396
Natural gas sales	262	858	569
Natural gas liquid sales	687	1,048	782
Sales of purchased oil	111	—	—
Other operating income	73	77	50
Total revenues	8,412	9,643	6,797
Costs and expenses:
Lease operating expenses	872	652	565
Production and ad valorem taxes	525	611	425
Gathering, processing and transportation	287	258	212
Purchased oil expense	111	—	—
Depreciation, depletion, amortization and accretion	1,746	1,344	1,275
General and administrative expenses	150	144	146
Merger and integration expenses	11	14	78
Other operating expenses	140	112	95
Total costs and expenses	3,842	3,135	2,796
Income (loss) from operations	4,570	6,508	4,001
Other income (expense):
Interest expense, net	(175)	(159)	(199)
Other income (expense), net	68	(5)	13
Gain (loss) on derivative instruments, net	(259)	(586)	(848)
Gain (loss) on extinguishment of debt	(4)	(99)	(75)
Income (loss) from equity investments, net	48	77	15
Total other income (expense), net	(322)	(772)	(1,094)
Income (loss) before income taxes	4,248	5,736	2,907
Provision for (benefit from) income taxes	912	1,174	631
Net income (loss)	3,336	4,562	2,276
Net income (loss) attributable to non-controlling interest	193	176	94
Net income (loss) attributable to Diamondback Energy, Inc.	$3,143	$4,386	$2,182
Earnings (loss) per common share:
Basic	$17.34	$24.61	$12.24
Diluted	$17.34	$24.61	$12.24
Weighted average common shares outstanding:
Basic	179,999	176,539	176,643
Diluted	179,999	176,539	176,643
Comprehensive income (loss):
Net income (loss) attributable to Diamondback Energy, Inc.	$3,143	$4,386	$2,182
Other comprehensive income (loss), net of tax:
Pension and postretirement benefit plans	(1)	(7)	—
Comprehensive income (loss) attributable to Diamondback Energy, Inc	$3,142	$4,379	$2,182

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.