Diamondback Energy Inc
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
FANG$178.08-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In millions, except per share amounts, shares in thousands) | ||
| Revenues: | ||
| Oil sales | $1,867 | $1,654 |
| Natural gas sales | 50 | 69 |
| Natural gas liquid sales | 184 | 179 |
| Sales of purchased oil | 116 | — |
| Other operating income | 10 | 23 |
| Total revenues | 2,227 | 1,925 |
| Costs and expenses: | ||
| Lease operating expenses | 255 | 192 |
| Production and ad valorem taxes | 119 | 155 |
| Gathering, processing and transportation | 77 | 68 |
| Purchased oil expense | 117 | — |
| Depreciation, depletion, amortization and accretion | 469 | 403 |
| General and administrative expenses | 46 | 40 |
| Merger and integration expenses | 12 | 8 |
| Other operating expenses | 14 | 34 |
| Total costs and expenses | 1,109 | 900 |
| Income (loss) from operations | 1,118 | 1,025 |
| Other income (expense): | ||
| Interest expense, net | (46) | (46) |
| Other income (expense), net | 4 | 53 |
| Gain (loss) on derivative instruments, net | (48) | (93) |
| Gain (loss) on extinguishment of debt | 2 | — |
| Income (loss) from equity investments, net | 2 | 14 |
| Total other income (expense), net | (86) | (72) |
| Income (loss) before income taxes | 1,032 | 953 |
| Provision for (benefit from) income taxes | 223 | 207 |
| Net income (loss) | 809 | 746 |
| Net income (loss) attributable to non-controlling interest | 41 | 34 |
| Net income (loss) attributable to Diamondback Energy, Inc. | $768 | $712 |
| Earnings (loss) per common share: | ||
| Basic | $4.28 | $3.88 |
| Diluted | $4.28 | $3.88 |
| Weighted average common shares outstanding: | ||
| Basic | 178,477 | 181,988 |
| Diluted | 178,477 | 181,988 |
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