Diamondback Energy reported strong third quarter 2026 results that significantly outperformed analyst expectations on both top and bottom lines. Following the integration of the Endeavor Energy merger, average total production reached 1,034 MBOE/d, allowing the company to generate $2.1 billion in free cash flow and raise its base dividend.
Key Highlights
- Average total production hit 1,034 MBOE/d, with oil production specifically reaching 525 MBO/d.
- Generated $2.1 billion in free cash flow, returning $582 million to stockholders during the quarter via dividends and buybacks.
- Full-year 2026 oil production guidance raised to ~524 MBO/d, up from the previous floor of 522 MBO/d.
- Annual cash capital expenditure guidance increased to a range of $3.95 - $4.00 billion to support expanded operations.