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Dec 31, 2021
Diamondback Q4 2021 Earnings Report
Announced financial and operating results for the fourth quarter and full year ended December 31, 2021, and increased dividend.
Key Takeaways
Diamondback Energy, Inc. reported strong Q4 2021 results, generating $772 million in Free Cash Flow with production and capital exceeding expectations. The company exceeded its commitment to return at least 50% of Free Cash Flow to stockholders, returning 67% through share repurchases and dividends.
Average production of 226.3 MBO/d (387.1 MBOE/d)
Cash flow from operating activities of $1,167 million; Operating Cash Flow Before Working Capital Changes of $1,206 million
Cash capital expenditures of $434 million
Free Cash Flow of $772 million
Forward Guidance
Diamondback provided full year 2022 oil production guidance of 218—222 MBO/d (369—376 MBOE/d) and full year 2022 cash CAPEX guidance of $1.75—$1.90 billion.
Positive Outlook
- Expects to generate approximately $5.8 billion of net cash provided by operating activities in 2022.
- Expects to generate approximately $4.0 billion of Free Cash Flow in 2022.
- Plans to drill between 270 and 290 gross wells in 2022.
- Plans to complete between 260 and 280 gross wells in 2022.
- Average lateral length of approximately 10,200 feet in 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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