Diamondback Energy(US:FANG)2025-10-26 23:45Financial Performance & Capital Allocation - Diamondback generated $1,242 million in Free Cash Flow ("FCF") in Q2 2025, which translates to $425 per share[17] - Adjusted FCF for Q2 2025 was $1,334 million, or $457 per share, excluding $40 million of merger and transaction expenses and $52 million of early derivative termination payments[17] - The company expects to generate at least $58 billion of Adjusted FCF in 2025 at current commodity prices[17] - Approximately 52% of Q2 2025 Adjusted FCF was returned to stockholders, totaling $691 million, through base dividends and share repurchases[15, 17] - The share repurchase authorization was increased by $20 billion, bringing the total to $80 billion, with approximately $35 billion remaining[17] Operational Highlights & Asset Overview - Diamondback's market capitalization is $42,306 million, with net debt of $15,098 million, resulting in an enterprise value of $61,342 million[16] - The company has significant scale with approximately 859,000 net acres and run-rate production of approximately 490 Mbo/d (~905 Mboe/d) beginning in Q3[19] - Diamondback possesses best-in-class inventory depth and quality, with approximately 9,600 gross Permian Basin locations economic at $50 / Bbl[20] - The company's unhedged realized cash margin was 73% in Q2 2025[24] Updated Guidance - The company anticipates full year 2025 oil production to be between 485 and 492 Mbo/d (890 – 910 Mboe/d)[69, 71] - The full year 2025 CAPEX budget is projected to be between $34 and $36 billion[69, 71]