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Jun 30
Diamondback Q2 2025 Earnings Report
Diamondback reported solid financial and operational performance in Q2 2025.
Key Takeaways
Diamondback Energy delivered strong Q2 2025 results, driven by robust oil production and significant shareholder returns. The company generated substantial free cash flow and continued to reduce capital expenditures while maintaining high operational efficiency.
Net income for Q2 2025 was $699 million, with adjusted net income at $785 million.
Net cash provided by operating activities reached $1.7 billion, and Free Cash Flow was $1.2 billion.
Total cash capital expenditures for the quarter amounted to $864 million.
Average oil production stood at 495.7 MBO/d, contributing to a total oil equivalent production of 919.9 MBOE/d.
Diamondback
Diamondback
Diamondback Revenue by Segment
Diamondback Revenue by Geographic Location
Revenue by Segment
Oil, Gas & NGL Sales Revenue
CapyFin.comPurchased Oil Sales Revenue
CapyFin.comOther Income Revenue
CapyFin.comRevenue by Geographic Location
Total Revenue
CapyFin.com Forward Guidance
Diamondback narrowed oil production guidance and reduced capital spending for FY2025, reflecting efficiency gains and stronger output expectations.
Positive Outlook
- Full-year oil production guidance narrowed to 485–492 MBO/d
- Annual BOE guidance raised to 890–910 MBOE/d
- Cash CAPEX lowered to $3.4B–$3.6B, down $500M from original midpoint
- Q3 oil production guidance of 485–495 MBO/d
- Improved efficiency: 50.9 MBO per $MM of CAPEX
Challenges Ahead
- Slight increase in DD&A guidance to $14.50–$15.50 per BOE
- Higher interest expense guidance at $0.60–$0.80 per BOE
- Gathering, processing and transportation costs increased to $1.60–$1.75 per BOE
- Reduced natural gas prices affecting blended revenue per BOE
- Merger and transaction costs still impacting adjusted metrics