Diamondback Energy Inc.
07/10/2025 | Press release | Distributed by Public on 07/10/2025 14:13
Business/Financial Results (Form 8-K)
Item 2.02. Results of Operations and Financial Condition.
Diamondback Energy, Inc. ("Diamondback") presents in this Item 2.02 certain information for the quarter ended June 30, 2025 regarding its derivative activity, realized prices, and weighted average basic and diluted shares outstanding.
Realized Prices
Second quarter 2025 average unhedged realized prices were $63.23 per barrel of oil, $0.88 per Mcf of natural gas and $18.13 per barrel of natural gas liquids ("NGLs").
Second quarter 2025 average realized hedged prices were $62.34 per barrel of oil, $1.45 per Mcf of natural gas and $18.13 per barrel of NGLs.
| Average Prices: | |||||
| Oil ($ per Bbl) | $ | 63.23 | |||
| Natural gas ($ per Mcf) | $ | 0.88 | |||
| Natural gas liquids ($ per Bbl) | $ | 18.13 | |||
|
Oil, hedged ($ per Bbl)(1)
|
$ | 62.34 | |||
|
Natural gas, hedged ($ per Mcf)(1)
|
$ | 1.45 | |||
|
Natural gas liquids, hedged ($ per Bbl)(1)
|
$ | 18.13 | |||
(1)Hedged prices reflect the effect of our commodity derivative transactions on our average sales prices and include gains and losses on cash settlements for matured commodity derivatives, which we do not designate for hedge accounting. Hedged prices exclude gains or losses resulting from the early settlement of commodity derivative contracts.
Derivative Activity
For the second quarter of 2025, Diamondback anticipates a net loss on cash settlements for derivative instruments of $37 million and a net non-cash loss on derivative instruments of $160 million as detailed in the table below (in millions):
| Gain (loss) on derivative instruments, net: | |||||
| Commodity contracts | $ | (203) | |||
|
Interest rate swaps(1)
|
7 | ||||
| 2026 WTI Contingent Liability | (1) | ||||
| Total | $ | (197) | |||
| Net cash received (paid) on settlements: | |||||
| Commodity contracts | $ | 23 | |||
|
Interest rate swaps(1)
|
(60) | ||||
| Total | $ | (37) | |||
(1)Includes a $52 million realized loss on the early termination of an aggregate $450 million of the previously outstanding $900 million notional amount of interest rate swaps. Diamondback plans to exclude the partial hedge termination from its second quarter return of capital calculation.
Weighted Average Basic and Diluted Shares Outstanding
For the second quarter of 2025, basic and diluted weighted average shares outstanding are as follows (in thousands):
| Basic weighted average shares outstanding | 292,135 | ||||
| Diluted weighted average shares outstanding | 292,135 | ||||
Diamondback Energy Inc. published this content on July 10, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on July 10, 2025 at 20:13 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io