MIDLAND, Texas, May 04, 2020 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the first quarter ended March 31, 2020.
FIRST QUARTER 2020 HIGHLIGHTSQ1 2020 average production of 201.4 MBO/d (321.1 MBOE/d), with average oil production up 3% over Q4 2019 and up 12% over Q1 2019Q1 2020 net loss of $272 million; adjusted net income (as defined and reconciled below) of $230 million, or $1.45 per diluted shareQ1 2020 Consolidated Adjusted EBITDA (as defined and reconciled below) of $713 million; adjusted EBITDA net of non-controlling interest of $670 millionQ1 2020 capital expenditures of $790 million; turned 80 gross operated horizontal wells to productionDeclared Q1 2020 cash dividend of $0.375 per share payable on May 21, 2020;

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