The earnings call highlights a strategic response to a challenging market environment with significant reductions in capital expenditure and drilling activity while maintaining operational efficiency. However, the call also presents concerns over declining production and increased cost pressures due to tariffs.

Company Guidance -

Q2 2025

During Diamondback Energy's first quarter 2025 earnings call, the company announced a significant reduction in capital expenditure by $400 million, alongside cuts in operational activity, including the reduction of three drilling rigs and one frac spread. Despite these cuts, the company expects only a minimal 1% impact on production for 2025, though a more pronounced decline of 20,000 net barrels per day is anticipated between the second and third quarters. The company is aiming to stabilize production at approximately 485,000 barrels per day by the end of the year. Diamondback also discussed the possibility of reallocating more free cash flow towards share repurchases, especially given current market conditions, and highlighted that any significant increase in activity would require a more favorable oil price environment, specifically in the range of $65 to $70 per barrel. The dialogue underscored concerns about the macroeconomic environment, including the recent OPEC decision, and the maturation of U.S. shale plays, which are expected to impact future production capabilities.

Capital Efficiency Improvement

Diamondback Energy reduced its capital expenditure by $400 million while maintaining a relatively stable production impact for 2025. This was achieved through improved capital efficiency and strategic allocation of resources.

Strong Inventory Position

The company emphasized its long inventory length, allowing more insulation from market fluctuations and supporting a robust future production capacity.

Efficiencies in Operations

Average drilling was completed in under eight days per well, with completion efficiencies reaching over 4,000 feet per day, highlighting operational excellence.

Strategic Debt Management

Diamondback repurchased some of its longer-dated notes at well below par value, indicating strategic management of financial resources.

Diamondback (FANG) Earnings, Revenues Date & History

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FANG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 04, 2025	2025 (Q2)	2.77 / -	4.52	―	―	―
May 05, 2025	2025 (Q1)	4.18 / 4.54	4.5	0.89% (+0.04)
Feb 24, 2025	2024 (Q4)	3.34 / 3.64	4.74	-23.21% (-1.10)
Nov 04, 2024	2024 (Q3)	4.02 / 3.38	5.49	-38.43% (-2.11)
Aug 05, 2024	2024 (Q2)	4.50 / 4.52	3.68	22.83% (+0.84)
Apr 30, 2024	2024 (Q1)	4.47 / 4.50	4.1	9.76% (+0.40)
Feb 20, 2024	2023 (Q4)	4.70 / 4.74	5.29	-10.40% (-0.55)
Nov 06, 2023	2023 (Q3)	5.01 / 5.49	6.48	-15.28% (-0.99)
Jul 31, 2023	2023 (Q2)	3.88 / 3.68	7.07	-47.95% (-3.39)
May 01, 2023	2023 (Q1)	4.33 / 4.10	5.2	-21.15% (-1.10)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

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Missed

FANG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 05, 2025	$132.16	$131.07	-0.82%
Feb 24, 2025	$153.08	$149.81	-2.14%
Nov 04, 2024	$176.39	$172.34	-2.30%
Aug 05, 2024	$179.55	$183.93	+2.44%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.