Higher oil volumes contribute to increased revenue
- Diamondback Energy reports revenue growth in 4Q
- Higher levels of daily oil volume production contribute to revenue increase
- Net profit of $960 million, or $5.34 a share
- Adjusted earnings per share of $4.74
- Revenue jumps 9.8% to $2.23 billion
- Company expects production to average 270-274 thousand barrels of oil equivalent per day in 1Q
- Diamondback Energy enters merger agreement with Endeavor Energy Resources
Diamondback Energy reported revenue growth in the fourth quarter due to higher levels of daily oil volume production. The company posted a net profit of $960 million, or $5.34 a share, compared to $1.01 billion, or $5.62 a share, in the same period last year. Adjusted earnings per share came in at $4.74, surpassing analysts’ expectations. Revenue jumped 9.8% to $2.23 billion, exceeding analysts’ forecasts. Diamondback Energy expects its production to average 270-274 thousand barrels of oil equivalent per day in the first quarter. The company recently entered into a merger agreement with Endeavor Energy Resources in a transaction valued at about $26 billion.
Factuality Level: 9
Factuality Justification: The article provides specific details about Diamondback Energy’s financial performance in the fourth quarter, including revenue, net profit, earnings per share, and production levels. The information is supported by comparisons to the previous year and analyst forecasts, adding credibility to the report. There are no obvious signs of bias, sensationalism, or inaccuracies in the article, making it highly factual.
Noise Level: 3
Noise Justification: The article provides relevant information about Diamondback Energy’s financial performance, including revenue growth, net profit, earnings per share, and production levels. It also mentions the company’s merger agreement with Endeavor Energy Resources. The article stays on topic and supports its claims with data and examples. However, it lacks in-depth analysis, accountability, and actionable insights, which prevent it from receiving a higher rating.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets that may be impacted by this news article are the oil and natural gas markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not describe any extreme event. It focuses on Diamondback Energy’s financial performance and its merger agreement with Endeavor Energy Resources.
Public Companies: Diamondback Energy (FANG)
Private Companies: Endeavor Energy Resources
Key People: Sabela Ojea (Author)
Reported publicly:
www.marketwatch.com 
