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
Operated drilling and completion ($ - million)
“$3,130 - $3,440”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
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 - $910”
Midland Basin completed net lateral feet (%) for FY2025
“~95%”
Delaware Basin completed net lateral feet (%) for FY2025
“~5%”
Exhibit 99.1 · the passage around this item
… earlier in the release
2025 Net production - MBOE/d 883 - 909 2025 Oil production - MBO/d 485 - 498 Q1 2025 Oil production - MBO/d (total - MBOE/d) 470 - 475 (860 - 875) 30.0 - 31.0 (54.0 - 56.0) Unit costs ($/BOE) Lease operating expenses, including workovers $5.90 - $6.30 G&A Cash G&A $0.60 - $0.75 Non-cash equity-based compensation $0.25 - $0.35 DD&A $14.00 - $15.00 Interest expense (net of interest income) $0.25 - $0.50 Gathering, processing and transportation $1.20 - $1.40 Production and ad valorem taxes (% of revenue) ~7% Corporate tax rate (% of pre-tax income) 23% Cash tax rate (% of pre-tax income) 17% - 20% Q1 2025 Cash taxes ($ - million) $280 - $340 Capital Budget ($ - million) Operated drilling and completion $3,130 - $3,440 Capital workovers, non-operated properties and science $280 - $320 Infrastructure, environmental and midstream (1) $390 - $440 2025 Total capital expenditures $3,800 - $4,200 Q1 2025 Capital expenditures $900 - $1,000 Gross horizontal wells drilled (net) 446 - 471 (406 - 428) Gross horizontal wells completed (net) 557 - 592 (526 - 560) Average lateral length (Ft.) ~11,500' FY 2025 Midland Basin well costs per lateral foot $555 - $605 FY 2025 Delaware Basin well costs per lateral foot $860 - $910 Midland Basin completed net lateral feet (%) ~95% Delaware Basin completed net lateral feet (%) ~5% (1) Includes approximately $60 million in estimated midstream capital expenditures for the full year 2025. CONFERENCE CALL Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the fourth quarter of 2024 on Tuesday, February 25, 2025 at 8:00 a.m. CT. Access to the webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Diamondback’s website at www.diamondbackenergy.com under the “Investor Relations” section of the site. About Diamondback E
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.