| Metric | Oct 1, 2024 FY24 Q3 | Feb 24, 2025 FY24 Q4 | Apr 16, 2025 FY25 Q1 | Aug 4, 2025 FY25 Q2 | Nov 3, 2025 FY25 Q3 | Feb 23, 2026 FY25 Q4 | May 4, 2026 FY26 Q1 | Aug 3, 2026 FY26 Q2 |
|---|---|---|---|---|---|---|---|---|
| For FY2026 | ||||||||
| Production and ad valorem taxes (% of revenue) | — | — | — | — | — | New“~7%” | Reiterated“~7%” | Reiterated“~7%” |
| Annual oil production | — | — | — | — | — | — | New“520+ (from 500 - 510) MBO/d” | Raised“522+ (from 520+) MBO/d” |
| Average lateral length (Ft.) | — | — | — | — | — | New“~12,900'” | Reiterated“~12,900'” | Reiterated“~12,900'” |
| Base cash dividend | — | — | — | — | — | — | — | New“$1.10 per share” |
| Base cash dividend | — | — | — | — | — | — | New“$1.10 per share” | — |
| Capital expenditures | — | — | — | — | — | — | New“$925 - $1,025” | — |
| Capital expenditures | — | — | — | — | — | New“$900 - $975” | — | — |
| Capital for exploratory development in the Barnett / Woodford and multiple tests to increase oil recoveries from the existing asset base | — | — | — | — | — | New“$100 - $150 million” | — | — |
| Cash capital expenditures | — | — | — | — | — | — | — | New“$950 - $1,050 million” |
| Cash capital expenditures | — | — | — | — | — | — | New“~$3.90 billion (from ~$3.75 billion)” | Reiterated“~$3.9 billion” |
| Cash capital expenditures | — | — | — | — | — | — | New“$925 - $1,025 million” | — |
| Cash capital expenditures | — | — | — | — | — | New“$3.6 - $3.9 billion” | — | — |
| Cash capital expenditures | — | — | — | — | — | New“$900 million - $975 million” | — | — |
| Cash G&A ($/BOE) | — | — | — | — | — | New“$0.55 - $0.70” | Reiterated“$0.55 - $0.70” | — |
| Cash G&A ($/BOE) (Diamondback Energy, Inc.) | — | — | — | — | — | — | — | New“$0.55 - $0.65 (from $0.55 - $0.70)” |
| Cash G&A ($/BOE) (Viper Energy, Inc.) | — | — | — | — | — | — | — | New“$0.70 - $0.90” |
| Cash tax rate (% of pre-tax income) | — | — | — | — | — | New“18% - 21%” | Reiterated“18% - 21%” | Raised“19% - 22% (from 18% - 21%)” |
| Cash taxes ($ - million) | — | — | — | — | — | — | — | New“$400 - $460” |
| Cash taxes ($ - million) | — | — | — | — | — | — | New“$440 - $500” | — |
| Cash taxes ($ - million) | — | — | — | — | — | New“$180 - $240” | — | — |
| Contingent consideration | — | — | — | — | New“up to $200 million” | — | — | — |
| Corporate tax rate (% of pre-tax income) | — | — | — | — | — | — | New“23%” | — |
| DD&A ($/BOE) | — | — | — | — | — | New“$14.50 - $15.50” | Lowered“$14.00 - $15.00 (from $14.50- $15.50)” | — |
| DD&A ($/BOE) (Diamondback Energy, Inc.) | — | — | — | — | — | — | — | New“$13.50 - $14.50 (from $14.00 - $15.00)” |
| DD&A ($/BOE) (Viper Energy, Inc.) | — | — | — | — | — | — | — | New“$14.75 - $17.25” |
| Exploratory development capital | — | — | — | — | — | New“approximately $100 - $150 million” | — | — |
| Gathering, processing and transportation ($/BOE) | — | — | — | — | — | New“$1.50 - $1.70” | Reiterated“$1.50 - $1.70” | — |
| Gathering, processing and transportation ($/BOE) (Diamondback Energy, Inc.) | — | — | — | — | — | — | — | New“$1.40 - $1.60 (from $1.50 - $1.70)” |
| Interest expense (net of interest income) ($/BOE) | — | — | — | — | — | New“$0.70 - $0.90” | Lowered“$0.50 - $0.70 (from $0.70- $0.90)” | — |
| Interest expense (net of interest income) ($/BOE) (Diamondback Energy, Inc.) | — | — | — | — | — | — | — | New“$0.50 - $0.70” |
| Interest expense (net of interest income) ($/BOE) (Viper Energy, Inc.) | — | — | — | — | — | — | — | New“$1.90 - $2.40” |
| Lease operating expenses, including workovers ($/BOE) | — | — | — | — | — | New“$5.90 - $6.40” | Reiterated“$5.90 - $6.40” | — |
| Lease operating expenses, including workovers ($/BOE) (Diamondback Energy, Inc.) | — | — | — | — | — | — | — | New“$5.90 - $6.40” |
| Net lateral feet expected to be completed | — | — | — | — | — | New“5.9 - 6.3 million net lateral feet” | — | — |
| Net lateral footage completed (1,000's of Ft.) | — | — | — | — | — | New“5,900' - 6,300'” | Raised“6,100' - 6,500' (from 5,900' - 6,300')” | Reiterated“6,100' - 6,500'” |
| Net production - MBOE/d | — | — | — | — | — | New“926 - 962” | Changed“972+ ( from 926 - 962)” | — |
| Net production - MBOE/d, Diamondback Energy, Inc. | — | — | — | — | — | New“926 - 962” | Changed“972+ ( from 926 - 962)” | Changed“1,000+ ( from 972+)” |
| Net production - MBOE/d, Viper Energy, Inc. | — | — | — | — | — | New“120.0 - 132.0” | Narrowed“126.0 - 130.0” | Raised“132.5 - 135.0” |
| Non-cash equity-based compensation ($/BOE) | — | — | — | — | — | New“$0.20 - $0.30” | Reiterated“$0.20 - $0.30” | — |
| Non-cash equity-based compensation ($/BOE) (Diamondback Energy, Inc.) | — | — | — | — | — | — | — | New“$0.20 - $0.30” |
| Non-cash equity-based compensation ($/BOE) (Viper Energy, Inc.) | — | — | — | — | — | — | — | New“$0.10 - $0.20” |
| Oil production | — | — | — | — | — | — | — | New“517 - 527 MBO/d (995 - 1,015 MBOE/d)” |
| Oil production | — | — | — | — | — | — | New“515 - 525 MBO/d (950 - 990 MBOE/d)” | — |
| Oil production | — | — | — | — | — | New“500 - 510 MBO/d (926 - 962 MBOE/d)” | — | — |
| Oil production | — | — | — | — | — | New“502 - 512 MBO/d (930 - 966 MBOE/d)” | — | — |
| Oil production - MBO/d | — | — | — | — | — | New“500 - 510” | Raised“520+ (from 500 - 510)” | — |
| Oil production - MBO/d (total - MBOE/d) | — | — | — | — | — | — | New“515 - 525 (950 - 990)” | — |
| Oil production - MBO/d (total - MBOE/d) | — | — | — | — | — | New“502 - 512 (930 - 966)” | — | — |
| Oil production - MBO/d (total - MBOE/d) (Diamondback Energy, Inc.) | — | — | — | — | — | — | — | New“517 - 527 (995 - 1,015)” |
| Oil production - MBO/d (total - MBOE/d) (Viper Energy, Inc.) | — | — | — | — | — | — | — | New“67.5 - 68.5 (133.5 - 135.5)” |
| Oil production - MBO/d (total - MBOE/d), Diamondback Energy, Inc. | — | — | — | — | — | — | New“515 - 525 (950 - 990)” | — |
| Oil production - MBO/d (total - MBOE/d), Diamondback Energy, Inc. | — | — | — | — | — | New“502 - 512 (930 - 966)” | — | — |
| Oil production - MBO/d (total - MBOE/d), Viper Energy, Inc. | — | — | — | — | — | — | New“64.0 - 65.0 (124.0 - 126.0)” | — |
| Oil production - MBO/d (total - MBOE/d), Viper Energy, Inc. | — | — | — | — | — | New“62.5 - 64.5 (124.0 - 128.0)” | — | — |
| Oil production - MBO/d, Diamondback Energy, Inc. | — | — | — | — | — | New“500 - 510” | Raised“520+ (from 500 - 510)” | Raised“522+ (from 520+)” |
| Oil production - MBO/d, Viper Energy, Inc. | — | — | — | — | — | New“61.0 - 67.0” | Narrowed“64.5 - 66.5” | Raised“66.0 - 67.25” |
| Operated drilling and completion ($ - million) | — | — | — | — | — | New“$3,050 - $3,270” | — | — |
| Operated drilling and completion (Cash Capital Budget, $ - million) | — | — | — | — | — | — | New“~$3,310 (from ~$3,160 )” | Reiterated“~$3,310” |
| SGF share sale option | — | — | — | — | — | New“up to 3.0 million shares” | — | — |
| Total BOE production | — | — | — | — | — | — | New“972+ (from 926 - 962) MBOE/d” | Raised“1,000+ (from 972+) MBOE/d” |
| Total capital expenditures | — | — | — | — | — | New“$3,600 - $3,900” | Raised“~$3,900 (from ~$3,750)” | — |
| Total capital expenditures ($ - million) | — | — | — | — | — | New“$3,600 - $3,900” | Raised“~$3,900 (from ~$3,750)” | — |
| Total capital expenditures (2) ($ - million) | — | — | — | — | — | — | — | New“~$3,900” |
| For FY2025 | ||||||||
| Production and ad valorem taxes (% of revenue) | — | New“~7%” | — | Reiterated“~7%” | Reiterated“~7%” | — | — | — |
| Annual base dividend | — | — | — | — | — | New“$4.20 per share” | — | — |
| Annual BOE | — | — | — | New“890 - 910 MBOE/d” | Raised“910 - 920 MBOE/d” | — | — | — |
| Average lateral length (Ft.) | — | New“~11,500'” | — | Reiterated“~11,500'” | Reiterated“~11,500'” | — | — | — |
| Base cash dividend | — | — | — | — | — | New“$1.05 per share” | — | — |
| Base cash dividend | — | — | — | — | New“$1.00 per share” | — | — | — |
| Base cash dividend | — | — | — | New“$1.00 per share” | — | — | — | — |
| Capital expenditures | — | New“$900 - $1,000” | — | — | — | — | — | — |
| Capital workovers, non-operated properties and science ($ - million) | — | New“$280 - $320” | — | Lowered“$250 - $300 (from $280 - $320)” | Raised“$300 - $350 (from $250 - $300)” | — | — | — |
| Cash capital expenditures | — | — | — | New“$3.4 - $3.6 billion” | Narrowed“$3.45 - $3.55 billion” | — | — | — |
| Cash capital expenditures | — | — | — | — | New“$875 - $975 million” | — | — | — |
| Cash capital expenditures | — | — | — | New“$750 - $850 million” | — | — | — | — |
| Cash capital expenditures | — | New“$3.8 - $4.2 billion” | — | — | — | — | — | — |
| Cash capital expenditures | — | New“$900 million - $1.0 billion” | — | — | — | — | — | — |
| Cash G&A ($/BOE) | — | New“$0.60 - $0.75” | — | Reiterated“$0.60 - $0.75” | Reiterated“$0.60 - $0.75” | — | — | — |
| Cash tax rate (% of pre-tax income) | — | New“17% - 20%” | — | Lowered“15% - 18% (from 19% - 22%)” | Reiterated“15% - 18%” | — | — | — |
| Cash taxes ($ - million) | — | — | — | — | New“$270 - $350” | — | — | — |
| Cash taxes ($ - million) | — | — | — | New“$50 - $110” | — | — | — | — |
| Cash taxes ($ - million) | — | New“$280 - $340” | — | — | — | — | — | — |
| Corporate tax rate (% of pre-tax income) | — | New“23%” | — | Reiterated“23%” | Reiterated“23%” | — | — | — |
| DD&A ($/BOE) | — | New“$14.00 - $15.00” | — | Raised“$14.50 - $15.50 (from $14.00 - $15.00)” | Reiterated“$14.50 - $15.50” | — | — | — |
| Delaware Basin completed net lateral feet (%) | — | New“~5%” | — | Reiterated“~5%” | Reiterated“~5%” | — | — | — |
| Delaware Basin well costs per lateral foot | — | New“$860 - $910” | — | Reiterated“$860 - $910” | Reiterated“$860 - $910” | — | — | — |
| Gathering, processing and transportation ($/BOE) | — | New“$1.20 - $1.40” | — | Raised“$1.60 - $1.75 (from $1.40 - $1.60)” | Lowered“$1.45 - $1.60 (from $1.60 - $1.75)” | — | — | — |
| Gross (net) wells expected to be completed | — | New“557 - 592 gross (526 - 560 net) wells” | — | — | — | — | — | — |
| Gross (net) wells expected to be drilled | — | New“446 - 471 gross (406 - 428 net) wells” | — | — | — | — | — | — |
| Gross (net) wells to be completed | — | — | — | New“490 - 515 gross (458 - 482 net)” | — | — | — | — |
| Gross (net) wells to be drilled | — | — | — | New“425 - 450 gross (395 - 418 net)” | — | — | — | — |
| Gross horizontal wells completed (net) | — | — | — | New“490 - 515 (458 - 482) (from 475 - 550 (444 - 514))” | Changed“510 - 520 (471 - 481) (from 490 - 515 (458 - 482))” | — | — | — |
| Gross horizontal wells drilled (net) | — | — | — | New“425 - 450 (395 - 418) (from 385 - 435 (349 - 395))” | Changed“445 - 465 (412 - 430) (from 425 - 450 (395 - 418))” | — | — | — |
| Gross wells completed (net), average lateral length | — | — | — | — | New“510 - 520 gross (471 - 481 net) wells with an average lateral length of approximately 11,500 feet” | — | — | — |
| Horizontal wells drilled (net) | — | — | — | New“425 - 450 (395 - 418)” | Changed“445 - 465 (412 - 430)” | — | — | — |
| Implied full year 2025 oil production per million dollars of cash capital expenditures ("MBO per $MM of CAPEX") | — | New“44.8, 10% better than the Company’s original pro forma 2025 outlook provided in February 2024” | — | — | — | — | — | — |
| Implied run-rate oil production | — | New“490 – 505 MBO/d (891 – 920 MBOE/d)” | — | — | — | — | — | — |
| Infrastructure, environmental and midstream ($ - million) | — | New“$390 - $440” | — | Lowered“$300 - $350 (from $340 - $390)” | Lowered“$225 - $250 (from $300 - $350)” | — | — | — |
| Interest expense (net of interest income) ($/BOE) | — | New“$0.25 - $0.50” | — | Raised“$0.60 - $0.80 (from $0.40 - $0.65)” | Reiterated“$0.60 - $0.80” | — | — | — |
| Lease operating expenses, including workovers ($/BOE) | — | New“$5.90 - $6.30” | — | Lowered“$5.30 - $5.70 (from $5.65 - $6.05)” | Narrowed“$5.40 - $5.70 (from $5.30 - $5.70)” | — | — | — |
| MBO per $MM of CAPEX | — | — | — | New“50.9” | — | — | — | — |
| Midland Basin completed net lateral feet (%) | — | New“~95%” | — | Reiterated“~95%” | Reiterated“~95%” | — | — | — |
| Midland Basin well costs per lateral foot | — | New“$555 - $605” | — | Changed“$550 - $580 ( from $550 - $590)” | Changed“$550 - $580” | — | — | — |
| Midland Basin well costs per lateral foot | — | New“$555 - $605” | — | — | — | — | — | — |
| Net production - MBOE/d | — | New“883 - 909” | — | Raised“890 - 910 (from 857 - 900)” | Raised“910 - 920 (from 890 - 910)” | — | — | — |
| Net production - MBOE/d, Diamondback Energy, Inc. | — | — | — | New“890 - 910 (from 857 - 900)” | Raised“910 - 920 (from 890 - 910)” | — | — | — |
| Net production - MBOE/d, Viper Energy, Inc. | — | — | — | New“76.5 - 81.5” | Raised“92.8 - 93.5” | — | — | — |
| Non-cash equity-based compensation ($/BOE) | — | New“$0.25 - $0.35” | — | Reiterated“$0.25 - $0.35” | Reiterated“$0.25 - $0.35” | — | — | — |
| Oil production | — | — | — | New“485 - 492 MBO/d” | Raised“495 - 498 MBO/d” | — | — | — |
| Oil production | — | — | — | — | New“505 - 515 MBO/d (927 - 963 MBOE/d)” | — | — | — |
| Oil production | — | — | — | New“485 - 495 MBO/d (890 - 920 MBOE/d)” | — | — | — | — |
| Oil production | — | New“485 - 498 MBO/d (883 - 909 MBOE/d)” | — | — | — | — | — | — |
| Oil production | — | New“470 - 475 MBO/d ( 860 - 875 MBOE/d)” | — | — | — | — | — | — |
| Oil production - MBO/d | — | New“485 - 498” | — | Narrowed“485 - 492 (from 480 - 495)” | Raised“495 - 498 (from 485 - 492)” | — | — | — |
| Oil production - MBO/d (total - MBOE/d) | — | — | — | — | New“505 - 515 (927 - 963)” | — | — | — |
| Oil production - MBO/d (total - MBOE/d) | — | — | — | New“485 - 495 (890 - 920)” | — | — | — | — |
| Oil production - MBO/d (total - MBOE/d) | — | New“470 - 475 (860 - 875)” | — | — | — | — | — | — |
| Oil production - MBO/d (total - MBOE/d), Diamondback Energy, Inc. | — | — | — | — | New“505 - 515 (927 - 963)” | — | — | — |
| Oil production - MBO/d (total - MBOE/d), Diamondback Energy, Inc. | — | — | — | New“485 - 495 (890 - 920)” | — | — | — | — |
| Oil production - MBO/d (total - MBOE/d), Diamondback Energy, Inc. | — | New“470 - 475 (860 - 875)” | — | — | — | — | — | — |
| Oil production - MBO/d (total - MBOE/d), Viper Energy, Inc. | — | — | — | — | New“65.0 - 67.0 (124.0 - 128.0)” | — | — | — |
| Oil production - MBO/d (total - MBOE/d), Viper Energy, Inc. | — | — | — | New“46.0 - 49.0 (86.0 - 92.0)” | — | — | — | — |
| Oil production - MBO/d (total - MBOE/d), Viper Energy, Inc. | — | New“30.0 - 31.0 (54.0 - 56.0)” | — | — | — | — | — | — |
| Oil production - MBO/d, Diamondback Energy, Inc. | — | — | — | New“485 - 492 (from 480 - 495)” | Raised“495 - 498 (from 485 - 492)” | — | — | — |
| Oil production - MBO/d, Viper Energy, Inc. | — | — | — | New“41.0 - 43.5” | Raised“48.8 - 49.0” | — | — | — |
| Operated drilling and completion ($ - million) | — | New“$3,130 - $3,440” | — | Lowered“$2,850 - $2,950 (from $2,780 - $3,090)” | — | — | — | — |
| Operated drilling and completion (Capital Budget, $ - million) | — | — | — | — | New“$2,925 - $2,950 (from $2,850 - $2,950)” | — | — | — |
| Total capital expenditures | — | New“$3,800 - $4,200” | — | Lowered“$3,400 - $3,600 (from $3,400 - $3,800)” | Narrowed“$3,450 - $3,550 (from $3,400 - $3,600)” | — | — | — |
| Wells completed | — | New“between 557 - 592 gross (526 - 560 net)” | — | Changed“between 490 - 515 gross (458 - 482 net)” | Changed“between 510 - 520 gross (471 - 481 net)” | — | — | — |
| For FY2024 | ||||||||
| Annual base dividend | — | New“$4.00 per share” | — | — | — | — | — | — |
| Base cash dividend | — | New“$1.00 per share” | — | — | — | — | — | — |
| Cash CAPEX | New“$675 – $700 million” | — | — | — | — | — | — | — |
| Oil production | New“319 – 321 MBO/d (565 – 569 MBOE/d)” | — | — | — | — | — | — | — |
| No period stated | ||||||||
| Production and ad valorem taxes (% of revenue), Diamondback Energy, Inc. | — | — | — | — | — | New“~7%” | — | — |
| Cash G&A | — | New“$0.60 - $0.75” | — | — | — | — | — | — |
| Cash G&A, Diamondback Energy, Inc. | — | — | — | New“$0.60 - $0.75” | Reiterated“$0.60 - $0.75” | Lowered“$0.55 - $0.70” | Reiterated“$0.55 - $0.70” | — |
| Cash G&A, Viper Energy, Inc. | — | — | — | New“$0.80 - $1.00” | Reiterated“$0.80 - $1.00” | Lowered“$0.70 - $0.90” | Reiterated“$0.70 - $0.90” | — |
| DD&A, Diamondback Energy, Inc. | — | — | — | New“$14.50 - $15.50 (from $14.00 - $15.00)” | Reiterated“$14.50 - $15.50” | Reiterated“$14.50 - $15.50” | Lowered“$14.00 - $15.00 (from $14.50- $15.50)” | — |
| DD&A, Viper Energy, Inc. | — | — | — | New“$16.50 - $17.50” | Narrowed“$16.75 - $17.25” | Raised“$17.50 - $19.50” | Lowered“$16.25 - $18.25” | — |
| Gathering, processing and transportation | — | New“$1.20 - $1.40” | — | Raised“$1.60 - $1.75” | Lowered“$1.45 - $1.60 (from $1.60 - $1.75)” | Raised“$1.50 - $1.70” | Reiterated“$1.50 - $1.70” | — |
| Horizontal wells completed (net) | — | New“557 - 592 (526 - 560)” | — | Changed“490 - 515 (458 - 482) (from 475 - 550 (444 - 514))” | Changed“510 - 520 (471 - 481) (from 490 - 515 (458 - 482))” | — | — | — |
| Interest expense (net of interest income) | — | New“$0.25 - $0.50” | — | — | — | — | — | — |
| Interest expense (net of interest income), Diamondback Energy, Inc. | — | — | — | New“$0.60 - $0.80 (from $0.40 - $0.65)” | Reiterated“$0.60 - $0.80” | Raised“$0.70 - $0.90” | Lowered“$0.50 - $0.70 (from $0.70- $0.90)” | — |
| Interest expense (net of interest income), Viper Energy, Inc. | — | — | — | New“$2.00 - $2.50” | Raised“$2.50 - $3.00” | Lowered“$1.90 - $2.40” | Reiterated“$1.90 - $2.40” | — |
| Lease operating expenses, including workovers | — | New“$5.90 - $6.30” | — | Lowered“$5.30 - $5.70 (from $5.65 - $6.05)” | Narrowed“$5.40 - $5.70 (from $5.30 - $5.70)” | Raised“$5.90 - $6.40” | Reiterated“$5.90 - $6.40” | — |
| Non-cash equity-based compensation | — | New“$0.25 - $0.35” | — | — | — | — | — | — |
| Non-cash equity-based compensation, Diamondback Energy, Inc. | — | — | — | New“$0.25 - $0.35” | Reiterated“$0.25 - $0.35” | Lowered“$0.20 - $0.30” | Reiterated“$0.20 - $0.30” | — |
| Non-cash equity-based compensation, Viper Energy, Inc. | — | — | — | New“$0.10 - $0.20” | Reiterated“$0.10 - $0.20” | Reiterated“$0.10 - $0.20” | Reiterated“$0.10 - $0.20” | — |
| Operated drilling and completion | — | — | — | — | — | New“$3,050 - $3,270” | Raised“~$3,310 (from ~$3,160 )” | — |
| Pre-tax income attributable to the Company ($ - million), Diamondback Energy, Inc. | — | — | — | — | — | New“$180 - $240” | — | — |
| Pre-tax income attributable to the Company ($ - million), Viper Energy, Inc. | — | — | — | — | — | New“$17.0 - $23.0” | — | — |
| Remaining share buyback authorization | — | New“approximately $2.5 billion” | — | — | — | — | — | — |
| Remaining share repurchase authorization | — | — | — | — | — | New“$2.3 billion” | — | — |
| Remaining share repurchase availability | — | — | — | — | — | — | — | New“approximately $9.9 billion” |
| Return of capital commitment | — | — | — | — | New“at least 50% of Adjusted Free Cash Flow” | — | — | — |
| Return of capital commitment (% of Adjusted Free Cash Flow) | — | — | — | — | — | New“at least 50% of Adjusted Free Cash Flow” | — | — |
| Share repurchase authorization | — | — | — | New“$8.0 billion” | — | — | — | Raised“$16.0 billion (excluding excise tax)” |
| Share repurchase program outlook | — | — | — | — | — | — | — | New“expects to continue repurchases opportunistically using cash on hand, free cash flow and potential asset sale proceeds” |