Diamondback Energy (NASDAQ: FANG) reported Q1 EPS of $1.45, $0.85 better than the analyst estimate of $0.60. Revenue for the quarter came in at $225 million versus the consensus estimate of $218.9 million.

• Q1 2017 cash distribution of $0.302 per common unit, up 17% over Q4 2016, 103% year over year and the highest in Company history; implies a 7.1% annualized yield based on May 1 unit closing price of $17.02
• Q1 2017 production of 8,519 boe/d (76% oil), up 8% over Q4 2016 and 38% year over year
• Increasing full year 2017 production guidance to 8,500 to 9,500 boe/d, up 9% from the midpoint of prior guidance range of 8,000 to 8,500 boe/d
• Q1 2017 average realized prices were $49.40 per barrel of oil, $2.76 per Mcf of natural gas and $18.34 per barrel of natural gas liquids, resulting in a total equivalent price of $41.80/boe, up 9% from the Q4 2016 total equivalent price of $38.33/boe
• There are approximately 198 active well permits and eight active rigs currently on Viper's mineral acreage
• Closed 28 deals for $8.4 million (100% Diamondback-operated) in Q1 2017, increasing Viper's mineral assets to 6,508 net royalty acres
• 15 gross horizontal wells completed by operators of Viper's Spanish Trail mineral interests during Q1 2017 at an average royalty interest of 15.2%

For earnings history and earnings-related data on Diamondback Energy (FANG) click here.