Diamondback Energy Announces Q1 2025 Operational Update Amid Market Volatility

MIDLAND, TEXAS – Diamondback Energy, Inc. (NASDAQ: FANG) has released its first quarter 2025 operational update, reporting average daily oil production of 475,944 barrels, totaling 850,656 BOE/day. The company realized unhedged oil prices at $70.95 per barrel, generating $226 million in derivative gains, including $85 million in cash gains.

Capital expenditures reached $942 million, and 3.66 million shares were repurchased during the quarter for $575 million. An additional 1.56 million shares have been bought in Q2 for $200 million to date. Diamondback currently has approximately 293 million shares outstanding, post-Double Eagle acquisition.

The company highlighted flexibility in its 2025 operating plan, citing readiness to adjust activity levels if low commodity prices persist, and emphasized efforts to lower its breakeven oil price through cost reductions.

Average hedged combined prices stood at $48.89 per BOE, with $70.06 for oil, $3.34 for natural gas, and $23.94 for NGLs.