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Diamondback Energy Inc FANG

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Morningstar’s Analysis

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Diamondback and Viper Remain Undervalued After Challenging Second Quarter; FVEs Intact

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Diamondback's second-quarter results were respectable, given the brutal energy environment, and slightly exceeded CapIQ consensus expectations. The firm reported EBITDA of $414 million and production of 294.1 thousand barrels of oil equivalent per day, or mboe/d, compared with CapIQ consensus estimate of $412 million and 292 mboe/d.

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Company Profile

Business Description

Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2019, the company reported net proven reserves of 1.1 billion barrels of oil equivalent. Net production averaged about 283,000 barrels per day in 2019, at a ratio of 66% oil, 18% natural gas liquids, and 16% natural gas.

500 West Texas Avenue, Suite 1200
Midland, TX, 79701
T +1 432 221-7400
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2019
Stock Type Hard Assets
Employees 712