Diamondback Energy Inc

FANG: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Diamondback Earnings: Solid Quarter, but Higher Guided Unit Costs; Still Some Opportunity

Joshua Aguilar , Christian Fleming

Feb 24, 2026

Diamondback had a solid fourth quarter, net-net, broadly in line with our expectations. Total daily production of 969.1 mboe/d exceeded our expectations, though oil mix and capital expenditures were in line, while pretax cash unit costs of $7.99 per barrel came in slightly above our forecast.

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Diamondback Energy Inc

Diamondback Earnings: Solid Quarter, but Higher Guided Unit Costs; Still Some Opportunity

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