Diamondback Energy Surpasses One Million BOE/D Production Milestone

Diamondback Energy, Inc., a leading oil and gas producer, announced its financial and operating results for the second quarter of 2026. The company reported average oil production of 525 million barrels per day (MBO/d), surpassing the one million barrels of oil equivalent per day milestone with total production of 1,018 MBOE/d.

The company's net cash provided by operating activities was $3.6 billion, while its Operating Cash Flow Before Working Capital Changes came in at $3.3 billion. Cash capital expenditures for the quarter totaled $996 million, and free cash flow and Adjusted Free Cash Flow both stood at $2.3 billion.

Diamondback also announced that it had repurchased 756,385 shares of common stock during the second quarter for approximately $141 million. The company declared a base cash dividend of $1.10 per share, payable on August 20, 2026, to shareholders of record as of August 13, 2026.

The Board of Directors doubled Diamondback's share repurchase authorization to $16.0 billion in July, with approximately $9.9 billion remaining available for future repurchases under the program.