Diamondback Energy, Inc. (FANG)

The company now

Diamondback Energy reported on 8 October 2026 that its third-quarter 2026 oil sold for an average of $87.30 a barrel before hedges and $85.89 after them 3.

It also expects a net loss of $97 million on settled hedges and a non-cash loss of $85 million on derivative contracts 3. Hedges are contracts that fix prices in advance, and because hedged prices came in below unhedged ones, they cost the company money in the quarter 3.

The release covers only prices, derivative activity and the share count, so the full third-quarter results are still to come 3.

In the second quarter, Diamondback reported net income of $1.9 billion and average production of 1,017.7 thousand barrels of oil equivalent a day, surpassing the 1.0 million milestone 2. A barrel of oil equivalent counts six thousand cubic feet of natural gas as one barrel of oil 2.

The quarterly report says the conflict in the Middle East moved the global oil market from surplus to deficit in 2026 and raised benchmark crude prices 2. Oil, gas and liquids revenue rose $961 million to $4.8 billion from the first quarter, with $861 million of that from higher oil prices 2.

A pending deal signed on 3 August 2026 would move certain mineral and royalty interests to Diamondback's listed subsidiary Viper in exchange for 3.65 million Viper units 2.

As of Oct 28, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.

Newer filings are on file since this was written; an update is queued.