HighGravityDataDiamondback Energy — Feb 23, 2026 release
Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001539838-26-000006
Showing in the filing
Cash capital expenditures
“$3.6 - $3.9 billion”
Period
FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 50
Annual base dividend for FY2025
“$4.20 per share”
Base cash dividend for Q4 FY2025
“$1.05 per share”
Oil production for FY2026
“500 - 510 MBO/d (926 - 962 MBOE/d)”
Cash capital expenditures for FY2026
“$3.6 - $3.9 billion”
Exploratory development capital for FY2026
“approximately $100 - $150 million”
Capital for exploratory development in the B… for FY2026
“$100 - $150 million”
Net lateral feet expected to be completed for FY2026
“5.9 - 6.3 million net lateral feet”
Oil production for Q1 FY2026
“502 - 512 MBO/d (930 - 966 MBOE/d)”
Cash capital expenditures for Q1 FY2026
“$900 million - $975 million”
Remaining share repurchase authorization
“$2.3 billion”
SGF share sale option for FY2026
“up to 3.0 million shares”
Net production - MBOE/d for FY2026
“926 - 962”
Net production - MBOE/d, Diamondback Energy,… for FY2026
“926 - 962”
Net production - MBOE/d, Viper Energy, Inc. for FY2026
“120.0 - 132.0”
Oil production - MBO/d for FY2026
“500 - 510”
Oil production - MBO/d, Diamondback Energy, … for FY2026
“500 - 510”
Oil production - MBO/d, Viper Energy, Inc. for FY2026
“61.0 - 67.0”
Oil production - MBO/d (total - MBOE/d) for Q1 FY2026
“502 - 512 (930 - 966)”
Oil production - MBO/d (total - MBOE/d), Dia… for Q1 FY2026
“502 - 512 (930 - 966)”
Oil production - MBO/d (total - MBOE/d), Vip… for Q1 FY2026
“62.5 - 64.5 (124.0 - 128.0)”
Lease operating expenses, including workover… for FY2026
“$5.90 - $6.40”
Lease operating expenses, including workovers
“$5.90 - $6.40”
Cash G&A ($/BOE) for FY2026
“$0.55 - $0.70”
Cash G&A, Diamondback Energy, Inc.
“$0.55 - $0.70”
Cash G&A, Viper Energy, Inc.
“$0.70 - $0.90”
Non-cash equity-based compensation ($/BOE) for FY2026
“$0.20 - $0.30”
Non-cash equity-based compensation, Diamondb…
“$0.20 - $0.30”
Non-cash equity-based compensation, Viper En…
“$0.10 - $0.20”
DD&A ($/BOE) for FY2026
“$14.50 - $15.50”
DD&A, Diamondback Energy, Inc.
“$14.50 - $15.50”
DD&A, Viper Energy, Inc.
“$17.50 - $19.50”
Interest expense (net of interest income) ($… for FY2026
“$0.70 - $0.90”
Interest expense (net of interest income), D…
“$0.70 - $0.90”
Interest expense (net of interest income), V…
“$1.90 - $2.40”
Gathering, processing and transportation ($/… for FY2026
“$1.50 - $1.70”
Gathering, processing and transportation
“$1.50 - $1.70”
Production and ad valorem taxes (% of revenue) for FY2026
“~7%”
Production and ad valorem taxes (% of revenu…
“~7%”
Cash tax rate (% of pre-tax income) for FY2026
“18% - 21%”
Cash taxes ($ - million) for Q1 FY2026
“$180 - $240”
Pre-tax income attributable to the Company (…
“$180 - $240”
Pre-tax income attributable to the Company (…
“$17.0 - $23.0”
Operated drilling and completion ($ - million) for FY2026
“$3,050 - $3,270”
Operated drilling and completion
“$3,050 - $3,270”
Total capital expenditures for FY2026
“$3,600 - $3,900”
Total capital expenditures ($ - million) for FY2026
“$3,600 - $3,900”
Capital expenditures for Q1 FY2026
“$900 - $975”
Average lateral length (Ft.) for FY2026
“~12,900'”
Net lateral footage completed (1,000's of Ft.) for FY2026
“5,900' - 6,300'”
Return of capital commitment (% of Adjusted …
“at least 50% of Adjusted Free Cash Flow”
Exhibit 99.1 · the passage around this item
… earlier in the release
FULL YEAR 2025 HIGHLIGHTS • Average production of 497.2 MBO/d (921.0 MBOE/d) • Net cash provided by operating activities of $8.8 billion; Operating Cash Flow Before Working Capital Changes of $9.1 billion • Cash capital expenditures of $3.5 billion • Free Cash Flow of $5.5 billion; Adjusted Free Cash Flow of $5.9 billion • Repurchased 13.84 million shares of common stock for $2.0 billion, at a weighted average price of $145.26 per share excluding excise tax • Total return of capital of $3.2 billion ; represents 54% of Adjusted Free Cash Flow • Declared total base-plus-variable dividends of $4.05 per share • Generated $1.7 billion in cash proceeds from non-core asset sales • Proved reserves as of December 31, 2025 of 3,618 MMBOE (49% oil), up 2% year over year; proved developed producing ("PDP") reserves of 2,521 MMBOE (47% oil), up 6% year over year 2026 GUIDANCE HIGHLIGHTS • Full year 2026 oil production guidance of 500 - 510 MBO/d (926 - 962 MBOE/d) • Full year 2026 cash capital expenditures guidance of $3.6 - $3.9 billion. Includes approximately $100 - $150 million of capital for exploratory development in the Barnett / Woodford and multiple tests to increase oil recoveries from the existing asset base • The Company expects to complete between 5.9 - 6.3 million net lateral feet in 2026 • Q1 2026 oil production guidance of 502 - 512 MBO/d (930 - 966 MBOE/d) • Q1 2026 cash capital expenditures guidance of $900 million - $975 million RECENT HIGHLIGHTS • Have repurchased 2.27 million shares of common stock in Q1 2026 (to date) for $371 million at a weighted average price of $163.60 per share excluding excise tax, which includes the repurchase of 2.00 million shares from SGF • Viper Energy, Inc. (the Company’s publicly traded mineral and royalty subsidiary, "Viper") closed its non-Permian divestiture in February, generating $617 million of net proceeds that were used to fully repay its term loan due 2027 and the outstanding balance on its revolving credit facility FOURTH QUARTER 2025 OPERATIONS UPDATE The following tables provide a summary of Diamondback’s key operational updates: Wells Drilled and Completed: Three Months Ended December 31, 2025 Year Ended December 31, 2025 Drilled Completed Drilled Com
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.