Diamondback Energy (FANG) Tops Q2 EPS by 4c

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Go back to Diamondback Energy (FANG) Tops Q2 EPS by 4c

Diamondback Energy, Inc. Announces Second Quarter 2015 Financial and Operating Results and Updated Guidance for 2015

August 5, 2015 4:02 PM EDT

MIDLAND, Texas, Aug. 5, 2015 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) ("Diamondback" or the "Company") today announced financial and operating results for the second quarter ended June 30, 2015 and provided updated guidance for 2015.

HIGHLIGHTS

Diamondback's Q2 2015 production was 30.0 Mboe/d (74% oil), up 68% from 17.8 Mboe/d (75% oil) in Q2 2014. Lease operating expenses ("LOE") decreased 8% to $7.51/boe from Q1 2015 and nearly 25% from the high in Q4 2014 of $9.79/boe. As a result of continued improved execution and faster cycle times, Diamondback now expects to complete 60 to 70 gross (49 to 57 net) horizontal... More