Diamondback Energy Surpasses One Million Barrels Per Day Milestone in Q2 2026

Diamondback Energy, Inc., an oil and gas company listed on NASDAQ under FANG, released its second-quarter financial and operating results for 2026. The company reported average oil production of 525 million barrels per day (MBO/d) in the quarter.

This marks a significant milestone as Diamondback surpassed one million barrels of oil equivalent per day (MBOE/d), exceeding expectations. The company's net cash provided by operating activities reached $3.6 billion, with Operating Cash Flow Before Working Capital Changes (OCFCWC) totaling $3.3 billion.

Diamondback's capital expenditures for the quarter were $996 million, while its free cash flow and adjusted free cash flow both stood at $2.3 billion. The company repurchased 756,385 shares of common stock in the second quarter, spending approximately $141 million on these purchases.