Last $73.34 USD
Change Today +2.85 / 4.04%
Volume 910.9K
FANG On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

diamondback energy inc (FANG) Snapshot

Open
$70.70
Previous Close
$70.49
Day High
$74.14
Day Low
$70.55
52 Week High
04/17/14 - $74.14
52 Week Low
04/29/13 - $25.78
Market Cap
3.7B
Average Volume 10 Days
1.1M
EPS TTM
$1.32
Shares Outstanding
50.6M
EX-Date
--
P/E TM
55.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for DIAMONDBACK ENERGY INC (FANG)

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diamondback energy inc (FANG) Details

Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. The company’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn, and Atoka formations. As of December 31, 2013, its net leasehold acreage in the Permian Basin was approximately 65,938 net acres; and estimated proved oil and natural gas reserves were 63,586 thousand barrels of crude oil equivalent. The company also held interests in 306 net producing wells in the Permian Basin. Diamondback Energy, Inc. was founded in 2007 and is headquartered in Midland, Texas.

68 Employees
Last Reported Date: 02/19/14
Founded in 2007

diamondback energy inc (FANG) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $1.3M
Vice President of Operations
Total Annual Compensation: $844.5K
Vice President of Drilling
Total Annual Compensation: $723.8K
Compensation as of Fiscal Year 2012.

diamondback energy inc (FANG) Key Developments

Diamondback Energy, Inc. Reports Unaudited Production Results for the First Quarter Ended March 31, 2014; Provides Horizontal Drilling Update; Revises Earnings Guidance for Full Year of 2014

Diamondback Energy, Inc. reported unaudited production results for the first quarter ended March 31, 2014. For the quarter, production increased 30% to 13.6 Mboe/d from fourth quarter of 2013, with a quarter-end exit rate in excess of 16 Mboe/d. Oil production was 960 MBbl compared to 301 MBbl a year ago. Natural gas was 708 MMcf compared to 351 MMcf a year ago. Natural gas liquids was 142 MBbls compared to 71 MBbls a year ago. The company also provided horizontal drilling update. The company reported that 11 operated Wolfcamp B wells were completed during first quarter of 2014, ten of which have sufficient production history for an average 24 hour rate of 989 boe/d (90% oil) from an average lateral length of 6,548 feet. Eight of these wells have sufficient production history for an average peak 30 day rate of 696 boe/d (85% oil) from an average lateral length of 6,510 feet. Diamondback expects to complete 17 to 20 wells per quarter going forward in 2014. Full year 2014, the company reported that production guidance increases 10% from 15 Mboe/d to 16 Mboe/d to 16 Mboe/d to 18 Mboe/d. This reflects an estimated 132% production growth year over year at the midpoint of the estimated production range, 2.5 Mboe/d -3.0 Mboe/d of this production growth is estimated to come from mineral interests. Capital expenditure is expected to be between $425 million to $475 million and interest expense is expected to be between $36.0 million to $38.0 million. DD&A is expected to be between $23.00/boe to $25.00/boe.

Diamondback Energy, Inc. Presents at GHS 1x1 Series Dallas Energy Day, Apr-15-2014

Diamondback Energy, Inc. Presents at GHS 1x1 Series Dallas Energy Day, Apr-15-2014 . Venue: Dallas, United States.

Diamondback Energy Seeks Acquisitions

Diamondback Energy, Inc. (NasdaqGS:FANG) seeks acquisitions. Diamondback Energy, Inc. announced the pricing of an underwritten public offering of 3 million shares of its common stock at a price to the public of $62.67 per share. The underwriters have an option to purchase up to an additional 0.45 million shares of common stock from Diamondback at the public offering price. The net proceeds to Diamondback from the sale of the 3 million shares of its common stock, after the underwriting discount and estimated offering expenses, will be approximately $181.1 million (or $208.3 million, if the underwriters exercise their option in full). Diamondback plans to use the net proceeds from this offering and borrowings under its revolving credit facility to fund its previously announced pending acquisitions of additional acreage in Martin County, TX in the Permian Basin. If pending acquisitions are not consummated, Diamondback intends to use the net proceeds from this offering to fund a portion of its exploration and development activities and for general corporate purposes, which may include leasehold interest and property acquisitions and working capital.

 

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