NETZ - What's Going On With Diamondback Energy Shares Premarket Wednesday? | Benzinga
Diamondback Energy, Inc. (NASDAQ:FANG) reported first-quarter FY24 revenue of $2.227 billion, beating the consensus of $2.088 billion.
Average daily oil volume production stood at 273.3 MBO/d, which was at the high end of the quarterly guidance range of 270 – 274 MBO/d.
Daily combined volumes came in at 461.1 MBOE/d in the quarter. The company’s average unhedged realized prices stood at $75.06 per barrel of oil, $0.99 per Mcf of natural gas, and $21.26 per barrel of natural gas liquids (NGLs), resulting in a total unhedged realized price of $50.07 per BOE.
Cash operating costs were $11.52 per BOE vs. $11.61 per BOE the year-ago quarter. Oil realizations remained relatively flat Q/Q at 98% of West Texas Intermediate (WTI) pricing in the quarter.
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