MIDLAND, Texas, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Viper Energy, Inc. (NASDAQ:VNOM) ("Viper" or the "Company"), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) ("Diamondback"), today provided an update on Q4 2024 financial and operating results. FOURTH QUARTER HIGHLIGHTS Q4 2024 average daily production of 29,859 bo/d (56,109 boe/d)Q4 2024 average unhedged realized prices of $69.91 per barrel of oil, $0.84 per Mcf of natural gas, and $22.15 per barrel of natural gas liquidsDuring the fourth quarter of ...

Transaction Details - Diamondback Energy has entered into a definitive purchase agreement with its subsidiary Viper Energy to sell certain mineral and royalty interests for $1 billion in cash and approximately 69.6 million units of Viper's operating subsidiary (OpCo Units) [1] - The transaction is valued at a total of $4.45 billion based on the volume weighted average sales price of Viper's common stock for the 30-trading day period ending on January 24, 2025 of $49.55 [2] - The tax advantaged OpCo units will be issued together with an equal number of shares of Class B common stock of Viper and are exchangeable for shares of Class A common stock of Viper [1] Strategic Rationale - The Drop Down transaction is a major milestone in the continued synergy capture and execution of corporate development objectives related to the Endeavor transaction [3] - The transaction will accelerate debt reduction and increase Diamondback's exposure to Viper's differentiated growth profile and market-leading minerals position [3] Transaction Timeline and Funding - Diamondback expects the transaction to close in the second quarter of 2025, subject to the satisfaction of customary closing conditions and approval by Viper's stockholders [3] - Viper expects to fund the cash portion of the transaction through a combination of cash on hand, borrowings under its credit facility, and proceeds from one or more capital markets transactions [2] Advisors - RBC Capital Markets is serving as financial advisor to Diamondback, while Kirkland & Ellis LLP is acting as legal advisor to Diamondback [4] - Evercore is acting as financial advisor to the Audit Committee of Viper's Board of Directors, and Hunton Andrews Kurth LLP is acting as legal advisor to Viper's Audit Committee [4] Company Overview - Diamondback is an independent oil and natural gas company headquartered in Midland, Texas, focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas [5]

Diamondback Energy (FANG) closed at $177.61 in the latest trading session, marking a +1.62% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.The energy exploration and production company's stock has climbed by 7% in the past month, exceeding the Oils-Energy sector's loss of 9.81% and the S&P 500's loss of 2.2%.Analysts and investors alike will be keeping a close eye on the perfor ...

MIDLAND, Texas, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Viper Energy, Inc. (NASDAQ:VNOM) ("Viper"), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) ("Diamondback"), today announced that it plans to release fourth quarter 2024 financial results on February 24, 2025 after the market closes. In connection with the earnings release, Viper will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2024 on Tuesday, February 25, 2025 at 10:00 a.m. CT. Acces ...

MIDLAND, Texas, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it plans to release fourth quarter 2024 financial results on February 24, 2025 after the market closes. In connection with the earnings release, Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2024 on Tuesday, February 25, 2025 at 8:00 a.m. CT. Access to the webcast, and replay which will be available f ...

Occidental Petroleum (OXY 0.58%) and Diamondback Energy (FANG 1.07%) are two of the leading producers in the prolific Permian Basin that runs through parts of Texas and New Mexico. That basin has almost single-handedly turned America into an oil-producing powerhouse. Given the significant resources still in that basin, the country could remain a leading oil producer for many years. The Permian Basin should fuel growth for these two leading energy stocks for years to come. Here's a closer look at which is th ...

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It has been about a month since the last earnings report for Diamondback Energy (FANG) . Shares have added about 0.1% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Diamondback due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Diamondback Q3 Earnings Miss Estimat ...

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Diamondback Energy (FANG) Q3 2024 Earnings Call November 05, 2024 09:00 AM ET Company Participants Adam Lawlis - Vice President, Investor RelationsTravis Stice - Chairman and CEONeal Dingmann - Managing Director - Energy ResearchKaes Van't Hof - President & CFOArun Jayaram - Vice PresidentBob Brackett - Head - Research DivisionDaniel Wesson - Executive VP & COONeil Mehta - Head of Americas Natural Resources Equity ResearchBetty Jiang - Managing DirectorKevin MacCurdy - Managing DirectorJohn Freeman - Managi ...