Strategic Acquisition Expands Deep Blue's Footprint in the Midland Basin MIDLAND, Texas, June 3, 2024 /PRNewswire/ -- Deep Blue Midland Basin LLC ("Deep Blue" or the "Company"), a joint venture between Diamondback Energy (NASDAQ: FANG) and Five Point Energy LLC ("Five Point"), announced today it has acquired Lagoon Operating – Midland, LLC ("Lagoon"). This strategic acquisition further solidifies Deep Blue's position as a key player in sustainable water management in the core of the Midland Basin. The Lagoo ...

Significance of the Sale Financial Impact: This sale represents a significant financial milestone for FANG. Through its subsidiary, Rattler Midstream LP, FANG has owned a 25% stake in Remuda Midstream Holdings LLC (WTG Midstream) since October 2021. The sale of WTG Midstream Holdings LLC represents an approximate 3.5x on invested capital for FANG. Debt Reduction Strategy: Proceeds from this transaction will be strategically used to reduce debt associated with the pending Endeavor Energy Resources, L.P. merg ...

MIDLAND, Texas, May 28, 2024 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) ("Diamondback") today announced the sale of WTG Midstream Holdings LLC to Energy Transfer LP (NYSE: ET) ("ET") resulting in total pre-tax consideration net to Diamondback of approximately $375 million, subject to customary closing conditions and adjustments. Consideration for the transaction will consist of a mix of cash and ET common units. The transaction is expected to close in the third quarter of 2024. Diamondback, ...

Diamondback Energy (FANG) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term. Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock. Our analysis is essentially based on how sell-side analysts coverin ...

bjdlzx Introduction Diamondback Energy (NASDAQ:FANG) is a low-cost energy producer that offers an attractive investment opportunity for those wishing to build their portfolio allocation toward energy. The company enjoys technical production advantages and efficiencies that help it maintain excellent margins through low-cost production. Diamondback bases its entire strategy on several strategic components: 1) Consistent low-cost production to undercut competitors, 2) pursuit of selective M&A activity to incr ...

U.S. energy operator Diamondback Energy (FANG) reported first-quarter 2024 adjusted earnings per share of $4.50, which beat the Zacks Consensus Estimate of $4.29 and came ahead of the year-ago adjusted figure of $4.10. The outperformance primarily reflects stronger production and a drop in overall realization.Meanwhile, revenues of $2.2 billion rose 15.7% from the year-ago quarter’s sales and outperformed the Zacks Consensus Estimate by $137 million.In good news for investors, the company is using the exces ...

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Diamondback Energy (FANG) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.Diamondback Energy is one of 249 companies in the Oils-Energy group. Th ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Diamondback Energy (FANG) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Diamondback currently h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-35700 Diamondback Energy, Inc. (Exact Name of Registrant As Specified in Its Charter) DE 45-4502447 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employ ...

Start Time: 09:00 January 1, 0000 9:39 AM ET Diamondback Energy, Inc. (NASDAQ:FANG) Q1 2024 Earnings Conference Call May 01, 2024, 09:00 AM ET Company Participants Travis Stice - Chairman and CEO Kaes Van't Hof - President and CFO Danny Wesson - EVP and COO Adam Lawlis - VP, IR Conference Call Participants Neil Mehta - Goldman Sachs Arun Jayaram - JPMorgan Securities LLC David Deckelbaum - TD Cowen Scott Hanold - RBC Capital Markets Roger Read - Wells Fargo Securities John Freeman - Raymond James Neal Dingm ...