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
Oil production
“470 - 475 MBO/d ( 860 - 875 MBOE/d)”
Period
Q1 FY2025
Measure
Company-defined measure
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
• Full year 2025 oil production guidance of 485 - 498 MBO/d (883 - 909 MBOE/d) • Full year 2025 cash capital expenditures guidance of $3.8 - $4.2 billion • The Company expects to drill between 446 - 471 gross (406 - 428 net) wells and complete between 557 - 592 gross (526 - 560 net) wells with an average lateral length of approximately 11,500 feet in 2025 • Q1 2025 oil production guidance of 470 - 475 MBO/d ( 860 - 875 MBOE/d) • Q1 2025 cash capital expenditures guidance of $900 million - $1.0 billion • Implies Q2 2025 – Q4 2025 run-rate oil production of 490 – 505 MBO/d (891 – 920 MBOE/d) • Full year 2025 Midland Basin well costs per lateral foot guidance of $555 - $605 • Implies full year 2025 oil production per million dollars of cash capital expenditures (“MBO per $MM of CAPEX”) of 44.8, 10% better than the Company’s original pro forma 2025 outlook provided in February 2024 OPERATIONS UPDATE The tables below provide a summary of operating activity for the fourth quarter of 2024. Total Activity (Gross Operated): Number of Wells Drilled Number of Wells Completed Midland Basin 131 124 Delaware Basin 6 4 Total 137 128 Total Activity (Net Operated): Number of Wells Drilled Number of Wells Completed Midland Basin 124 113 Delaware Basin 5 4 Total 129 117 During the fourth quarter of 2024, Diamondback drilled 131 gross wells in the Midland Basin and six gross wells in the Delaware Basin. The Company turned 124 operated wells to production in the Midland Basin and four gross wells in the Delaware Basin, with an average lateral length of 11,810 feet. Operated completions during the fourth quarter
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.