Diamondback Energy (NASDAQ: FANG) reported Q4 EPS of $1.56, $0.05 better than the analyst estimate of $1.51. Revenue for the quarter came in at $399.19 million versus the consensus estimate of $365.38 million.

HIGHLIGHTS

• Q4 2017 net income of $115 million, or $1.16 per diluted share; adjusted net income (as defined and reconciled below) of $153 million, or $1.56 per diluted share
• Q4 2017 production of 92.9 Mboe/d (74% oil), up 9% over Q3 2017 and 79% year over year; full year 2017 production of 79.2 Mboe/d (74% oil), up 84% year over year within operating cash flow
• Proved reserves as of December 31, 2017 of 335.4 MMboe (62% PDP, 70% oil), up 63% year over year; 2017 proved developed finding and development ("PD F&D") costs of $9.09/boe
• Full year 2018 production guidance of 108.0 – 116.0 Mboe/d, up over 40% at the midpoint from full year 2017 average daily production
• Full year 2018 CAPEX guidance of $1,300 - $1,500 million, including drill, complete and equip ("D,C&E") of $1,175 - $1,325 million and infrastructure of $125 - $175 million
• Expect to turn 170 to 190 gross operated horizontal wells to production in 2018 with an average lateral length of approximately 9,300 feet
• Initiating annual cash dividend of $0.50 per common share to be payable quarterly beginning with Q1 2018

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