Diamondback Energy Raises 2026 Oil Production Guidance to About 524 MBO/d

Diamondback Energy reported third-quarter 2026 financial results, with revenue of $5.43 billion and adjusted earnings per share of $5.86, both surpassing analyst estimates. The company generated $2.6 billion in net cash from operating activities and $2.1 billion in free cash flow. Alongside these results, Diamondback increased its annual base dividend by 7.3% to $4.72 per share and raised its annual oil production guidance to approximately 524 MBO/d. The company also reported the repurchase of 1.3 million shares for $251 million and the acquisition of a 7.5% equity interest in the Solitude Pipeline System, a Permian-to-Katy natural gas pipeline.