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Diamondback Energy, Inc. Announces Fourth Quarter 2017 Financial and Operating Results; Initiating Dividend

DIAMONDBACK ENERGY INC (FANG)  More Company Research Source: GlobeNewswire
Last diamondback energy inc earnings: 2/13 04:01 pm Check Earnings Report
PDF MIDLAND, Texas, Feb. 13, 2018 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter ended December 31, 2017. HIGHLIGHTS Q4 2017 net income of $115 million, or $1.16 per diluted share; adjusted net income (as defined and reconciled below) of $153 million, or $1.56 per diluted shareQ4 2017 production of 92.9 Mboe/d (74% oil), up 9% over Q3 2017 and 79% year over year; full year 2017 production of 79.2 Mboe/d (74% oil), up 84% year over year within operating cash flowProved reserves as of December 31, 2017 of 335.4 MMboe (62% PDP, 70% oil), up 63% year over year; 2017 proved developed finding and development ("PD F&D") costs of $9.09/boeFull year 2018 production guidance of 108.0 – 116.0 Mboe/d, up over 40% at the midpoint from full year 2017 average daily productionFull year 2018 CAPEX guidance of $1,300 - $1,500 million, including drill, complete and equip ("D,C&E") of $1,17 [Read more]

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