HighGravityDataDiamondback Energy — Feb 24, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001539838-25-000016
Showing in the filing
Annual base dividend
“$4.00 per share”
Period
FY2024
Measure
Declared action
Source
Prose
All guidance in this release · 44
Annual base dividend for FY2024
“$4.00 per share”
Base cash dividend for Q4 FY2024
“$1.00 per share”
Oil production for FY2025
“485 - 498 MBO/d (883 - 909 MBOE/d)”
Cash capital expenditures for FY2025
“$3.8 - $4.2 billion”
Gross (net) wells expected to be drilled for FY2025
“446 - 471 gross (406 - 428 net) wells”
Wells completed for FY2025
“between 557 - 592 gross (526 - 560 net)”
Gross (net) wells expected to be completed for FY2025
“557 - 592 gross (526 - 560 net) wells”
Oil production for Q1 FY2025
“470 - 475 MBO/d ( 860 - 875 MBOE/d)”
Cash capital expenditures for Q1 FY2025
“$900 million - $1.0 billion”
Implied run-rate oil production for Q2 FY2025
“490 – 505 MBO/d (891 – 920 MBOE/d)”
Implied full year 2025 oil production per mi… for FY2025
“44.8, 10% better than the Company’s original pro forma 2025 outlook provided in February 2024”
Remaining share buyback authorization
“approximately $2.5 billion”
Net production - MBOE/d for FY2025
“883 - 909”
Oil production - MBO/d for FY2025
“485 - 498”
Oil production - MBO/d (total - MBOE/d) for Q1 FY2025
“470 - 475 (860 - 875)”
Oil production - MBO/d (total - MBOE/d), Dia… for Q1 FY2025
“470 - 475 (860 - 875)”
Oil production - MBO/d (total - MBOE/d), Vip… for Q1 FY2025
“30.0 - 31.0 (54.0 - 56.0)”
Lease operating expenses, including workover… for FY2025
“$5.90 - $6.30”
Lease operating expenses, including workovers
“$5.90 - $6.30”
Cash G&A ($/BOE) for FY2025
“$0.60 - $0.75”
Cash G&A
“$0.60 - $0.75”
Non-cash equity-based compensation ($/BOE) for FY2025
“$0.25 - $0.35”
Non-cash equity-based compensation
“$0.25 - $0.35”
DD&A ($/BOE) for FY2025
“$14.00 - $15.00”
Interest expense (net of interest income) ($… for FY2025
“$0.25 - $0.50”
Interest expense (net of interest income)
“$0.25 - $0.50”
Gathering, processing and transportation ($/… for FY2025
“$1.20 - $1.40”
Gathering, processing and transportation
“$1.20 - $1.40”
Production and ad valorem taxes (% of revenue) for FY2025
“~7%”
Corporate tax rate (% of pre-tax income) for FY2025
“23%”
Cash tax rate (% of pre-tax income) for FY2025
“17% - 20%”
Cash taxes ($ - million) for Q1 FY2025
“$280 - $340”
Operated drilling and completion ($ - million) for FY2025
“$3,130 - $3,440”
Capital workovers, non-operated properties a… for FY2025
“$280 - $320”
Infrastructure, environmental and midstream … for FY2025
“$390 - $440”
Total capital expenditures for FY2025
“$3,800 - $4,200”
Capital expenditures for Q1 FY2025
“$900 - $1,000”
Horizontal wells completed (net)
“557 - 592 (526 - 560)”
Average lateral length (Ft.) for FY2025
“~11,500'”
Midland Basin well costs per lateral foot for FY2025
“$555 - $605”
Midland Basin well costs per lateral foot for FY2025
“$555 - $605”
Delaware Basin well costs per lateral foot for FY2025
“$860 - $910”
Midland Basin completed net lateral feet (%) for FY2025
“~95%”
Delaware Basin completed net lateral feet (%) for FY2025
“~5%”
Exhibit 99.1 · the passage around this item
… earlier in the release
FOURTH QUARTER 2024 HIGHLIGHTS • Average production of 475.9 MBO/d (883.4 MBOE/d) • Net cash provided by operating activities of $2.3 billion; Operating Cash Flow Before Working Capital Changes (as defined and reconciled below) of $2.3 billion • Cash capital expenditures of $933 million • Free Cash Flow (as defined and reconciled below) of $1.3 billion; Adjusted Free Cash Flow (as defined and reconciled below) of $1.4 billion • Increased annual base dividend by 11% to $4.00 per share; declared Q4 2024 base cash dividend of $1.00 per share payable on March 13, 2025; implies a 2.6% annualized yield based on February 21, 2025 closing share price of $156.12 • Repurchased 2,326,247 shares of common stock in Q4 2024 for $402 million, excluding excise tax (at a weighted average price of $172.91 per share); repurchased 1,254,600 shares of common stock to date in Q1 2025 for $210 million, excluding excise tax (at a weighted average price of $167.42 per share) • Total Q4 2024 return of capital of $694 million; represents ~51% of Adjusted Free Cash Flow (as defined and reconciled below) from stock repurchases and the declared Q4 2024 base dividend • Closed previously announced TRP Energy ("TRP") transaction in December 2024 FULL YEAR 2024 HIGHLIGHTS • Average production of 337.0 MBO/d (598.3 MBOE/d) • Net cash provided by operating activities of $6.4 billion; Operating Cash Flow Before Working Capital Changes (as defined and reconciled below) of $6.5 billion • Cash capital expenditures of $2.9 billion • Free Cash Flow (as defined and reconciled below) of $3.6 billion; Adjusted Free Cash Flow (as defined and reconciled below) of $4.0 billion • Declared total base-plus-var
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.