Diamondback Energy(US:FANG)2023-11-07 13:152023 Capital Activity Guidance - Diamondback expects to drill 340-350 gross horizontal wells (net 306-315) [1] - The company anticipates completing 325-335 gross horizontal wells (net 305-315) [1] - The average lateral length is projected to be approximately 11,000 feet [1] - Midland Basin well costs are estimated at $620-$680 per lateral foot, while Delaware Basin well costs are estimated at $900-$1,000 per lateral foot [1] - Midland Basin net lateral feet are estimated to be around 85%, and Delaware Basin net lateral feet are estimated to be around 15% [1] Financial Performance and Return of Capital - Diamondback's Q3 2023 oil production was 266.1 Mbo/d (452.8 Mboe/d) [74] - The company generated $820 million of Free Cash Flow ($4.58 per share) and $884 million of Adjusted Free Cash Flow ($4.94 per share) in Q3 2023 [73] - Diamondback returned approximately 81% of Q3 2023 Free Cash Flow to stockholders [73] - The company declared a total Q3 2023 dividend payout of $3.37 per share, implying an 8.3% annualized yield [73] Environmental Initiatives - Diamondback aims to reduce Scope 1 + 2 GHG intensity by at least 50% from 2020 levels by 2030 [123] - The company is targeting a reduction in methane intensity by at least 70% from 2019 levels by 2024 [123]