Diamondback Energy, Inc. Announces Third Quarter 2026 Financial and Operating Results; Increases Base Dividend

MIDLAND, Texas, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the third quarter ended September 30, 2026.

THIRD QUARTER 2026 HIGHLIGHTS * Average oil production of 525 MBO/d (1,034 MBOE/d) * Net cash provided by operating activities of $2.6 billion; Operating Cash Flow Before Working Capital Changes(1) of $3.2 billion * Cash capital expenditures of $1.0 billion * Free Cash Flow(1) and Adjusted Free Cash Flow(1 )of $2.1 billion and $2.2 billion, respectively * Increased annual base dividend by 7.3% to $4.72 per share; marks an 18% year over year increase and a ~2.2% annualized yield(2) * Repurchased 1.3 million shares of common stock for approximately $251 million * Repurchased $106 million in aggregate principal amount of 2054 and 2064 Senior Notes at a weighted average price of 94.9% of par ($103 million, including accrued interest) * Acquired a 7.5% equity interest in the Solitude Pipeline System, a Permian-to-Katy natural gas pipeline ____________________________________ (1 NON-GAAP DISCLOSURES - For a definition of Operating Cash Flow Before Working Capital Changes, Free Cash Flow, Adjusted Free Cash Flow, Adjusted Net Income, Adjusted EBITDA, Adjusted Net Income per Diluted Share, Net Debt and reconciliations of such non-GAAP financial metrics to their respective most directly comparable GAAP metrics, please see “Non-GAAP Financial Measures” below.) (2 Cash dividend payable on November 19, 2026; annualized yield based on October 30, 2026 closing share price of $212.08)