Diamondback Energy, Inc. (FANG) , a prominent U.S. oil player, is reportedly in discussions to acquire Double Eagle, a West Texas crude producer. This potential acquisition, valued at over $5 billion, highlights Diamondback's commitment to strengthening its foothold in the prolific Permian Basin, the country’s largest oil field.If no new possible buyer emerges or the talks don’t fall apart, the acquisition deal may be finalized in a few days.An Overview of Double EagleBacked by private equity firm EnCap Inv ...

MIDLAND, Texas, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ:FANG) ("Diamondback" or "the Company") today announced that it has entered into a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco, LLC ("Double Eagle") in exchange for approximately 6.9 million shares of Diamondback common stock and $3 billion of cash, subject to customary adjustments (the "Double Eagle Acquisition"). The cash portion of this transaction is expected to be funded through ...

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Diamondback Energy despite higher revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Diamondback Energy is expected to report quarterly earnings of $3.29 per share, reflecting a year-over-year decrease of 30.6% [3]. - Revenues are projected to be $3.4 billion, which is an increase of 52.7% compared to the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 9.25% higher in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Diamondback is lower than the Zacks Consensus Estimate, leading to an Earnings ESP of -0.03% [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with a strong predictor for positive readings [7][8]. - Diamondback's current Zacks Rank is 3, making it challenging to predict an earnings beat conclusively [11]. Historical Performance - In the last reported quarter, Diamondback was expected to earn $3.80 per share but only achieved $3.38, resulting in a surprise of -11.05% [12]. - Over the past four quarters, Diamondback has beaten consensus EPS estimates three times [13]. Industry Comparison - Cheniere Energy, another player in the oil and gas exploration and production sector, is expected to report earnings of $2.69 per share, indicating a year-over-year decline of 53.3% [17]. - Cheniere's revenues are anticipated to be $4.41 billion, down 8.7% from the previous year [17]. - The consensus EPS estimate for Cheniere has been revised up by 0.1% in the last 30 days, but it also has a negative Earnings ESP of -0.07% [18].

Diamondback Energy (FANG) closed at $162.01 in the latest trading session, marking a +0.22% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.03%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.36%.Shares of the energy exploration and production company witnessed a loss of 8.98% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.76% and the S&P 500's gain of 4.19%.Market participants will b ...

MIDLAND, Texas, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Travis Stice, Chief Executive Officer and Chairman of the Board of Directors (the “Board”) of Diamondback Energy, Inc. (NASDAQ: FANG) ("Diamondback" or the "Company"), is pleased to announce that effective February 3, 2025, the Company added Darin G. Holderness to the Board of Directors. Mr. Holderness has over 30 years of experience in various roles of increasing responsibility in the energy sector, including, among others, founder and Chief Financial Offic ...

MIDLAND, Texas, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Viper Energy, Inc. (NASDAQ:VNOM) ("Viper" or the "Company"), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) ("Diamondback"), today provided an update on Q4 2024 financial and operating results. FOURTH QUARTER HIGHLIGHTS Q4 2024 average daily production of 29,859 bo/d (56,109 boe/d)Q4 2024 average unhedged realized prices of $69.91 per barrel of oil, $0.84 per Mcf of natural gas, and $22.15 per barrel of natural gas liquidsDuring the fourth quarter of ...

Transaction Details - Diamondback Energy has entered into a definitive purchase agreement with its subsidiary Viper Energy to sell certain mineral and royalty interests for $1 billion in cash and approximately 69.6 million units of Viper's operating subsidiary (OpCo Units) [1] - The transaction is valued at a total of $4.45 billion based on the volume weighted average sales price of Viper's common stock for the 30-trading day period ending on January 24, 2025 of $49.55 [2] - The tax advantaged OpCo units will be issued together with an equal number of shares of Class B common stock of Viper and are exchangeable for shares of Class A common stock of Viper [1] Strategic Rationale - The Drop Down transaction is a major milestone in the continued synergy capture and execution of corporate development objectives related to the Endeavor transaction [3] - The transaction will accelerate debt reduction and increase Diamondback's exposure to Viper's differentiated growth profile and market-leading minerals position [3] Transaction Timeline and Funding - Diamondback expects the transaction to close in the second quarter of 2025, subject to the satisfaction of customary closing conditions and approval by Viper's stockholders [3] - Viper expects to fund the cash portion of the transaction through a combination of cash on hand, borrowings under its credit facility, and proceeds from one or more capital markets transactions [2] Advisors - RBC Capital Markets is serving as financial advisor to Diamondback, while Kirkland & Ellis LLP is acting as legal advisor to Diamondback [4] - Evercore is acting as financial advisor to the Audit Committee of Viper's Board of Directors, and Hunton Andrews Kurth LLP is acting as legal advisor to Viper's Audit Committee [4] Company Overview - Diamondback is an independent oil and natural gas company headquartered in Midland, Texas, focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas [5]

Diamondback Energy (FANG) closed at $177.61 in the latest trading session, marking a +1.62% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.The energy exploration and production company's stock has climbed by 7% in the past month, exceeding the Oils-Energy sector's loss of 9.81% and the S&P 500's loss of 2.2%.Analysts and investors alike will be keeping a close eye on the perfor ...

MIDLAND, Texas, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Viper Energy, Inc. (NASDAQ:VNOM) ("Viper"), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) ("Diamondback"), today announced that it plans to release fourth quarter 2024 financial results on February 24, 2025 after the market closes. In connection with the earnings release, Viper will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2024 on Tuesday, February 25, 2025 at 10:00 a.m. CT. Acces ...

MIDLAND, Texas, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it plans to release fourth quarter 2024 financial results on February 24, 2025 after the market closes. In connection with the earnings release, Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2024 on Tuesday, February 25, 2025 at 8:00 a.m. CT. Access to the webcast, and replay which will be available f ...