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Stock impact report

UPDATE 2-Diamondback Energy beats first quarter profit estimates on higher production [Yahoo! Finance]

Diamondback Energy, Inc. (FANG) 
Last diamondback energy, inc. earnings: 2/18 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.diamondbackenergy.com
Company Research Source: Yahoo! Finance
April 30(Reuters) - Diamondback Energy beat first quarter profit estimates on Tuesday as the oil and gas firm benefited from higher oil production and better prices. Crude oil prices in the quarter mirrored the previous year as production cuts by OPEC+ countries offset lower demand, helping oil producers like Diamondback Energy. Quarterly oil production was at 24.8 millions of barrels (MMBbls), up about 10% from the previous year and prices for oil was up 2.7% at $75.06 per barrel (Bbl) for the same period. The Midland, Texas-based company had said in February it would buy privately-held rival Endeavor Energy Partners in $26 billion cash-and-stock deal, which is expected to close in the fourth quarter. It received a second request from the U.S. Federal Trade Commission (FTC) earlier in the week seeking additional information and documentary material in connection with the deal. The combined company would be the third-largest oil and gas producer in the Permian Basin of West Show less Read more
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