Diamondback Energy Files DEFA14A Proxy Solicitation

TL;DR

**Diamondback Energy just filed a DEFA14A, signaling active shareholder engagement, likely for a key vote.**

AI Summary

Diamondback Energy, Inc. filed a DEFA14A on February 20, 2024, as soliciting material pursuant to Rule 14a-12. This filing indicates that Diamondback Energy is the registrant and no filing fee was required. The document is a proxy statement under Section 14(a) of the Securities Exchange Act of 1934.

Why It Matters

This filing signals that Diamondback Energy is actively engaging with shareholders, likely in preparation for an upcoming vote or corporate action, which could impact investor sentiment and stock performance.

Risk Assessment

Risk Level: low — This is a routine administrative filing for soliciting materials and does not inherently indicate a high-risk event.

Key Players & Entities

• Diamondback Energy, Inc. (company) — Registrant
• February 20, 2024 (date) — Filing date
• 001-35700 (other) — SEC File Number
• 1934 Act (other) — Governing Act
• Rule 14a-12 (other) — Soliciting Material Rule

FAQ

Key Financial Figures

• $5.9 billion — exceeded production guidance, generated $5.9 billion of Net Cash Provided by Operating Activ
• $2.9 billion — Cash Provided by Operating Activities, $2.9 billion of Free Cash Flow and returned $2.3 bil
• $2.3 billion — billion of Free Cash Flow and returned $2.3 billion of that Free Cash Flow back to our stoc
• $3.38 — h Flow back to our stockholders via our $3.38 per share of base dividends, $838 milli
• $838 million — our $3.38 per share of base dividends, $838 million of share repurchases and $4.74 per shar
• $4.74 — , $838 million of share repurchases and $4.74 per share of variable dividends. We exc
• $6.8 billion — ird and Lario, and exited the year with $6.8 billion of total debt and $6.2 billion of conso
• $6.2 billion — ear with $6.8 billion of total debt and $6.2 billion of consolidated net debt, below 1.0x 20
• $65 — t least 95% of WTI when WTI is at least $65 per barrel, with most quarters above th
• $649 million — Cash capex for the fourth quarter was $649 million; at the high end of our quarterly guida
• $580 — ine by 5% - 11% in the first quarter to $580 - $620 million as we continue to see th
• $620 million — 5% - 11% in the first quarter to $580 - $620 million as we continue to see the benefits of l
• $2.30 — leased full year 2024 capex guidance of $2.30 - $2.55 billion. The midpoint of this r
• $2.55 billion — ull year 2024 capex guidance of $2.30 - $2.55 billion. The midpoint of this range is down 10%
• $0.32 — Total cash operating costs increased by $0.32 per BOE quarter over quarter primarily

Filing Documents

• ny20021341x6_defa14a.htm (DEFA14A) — 41KB
• ny20021341x6_img01.jpg (GRAPHIC) — 105KB
• ny20021341x6_img02.jpg (GRAPHIC) — 98KB
• 0001140361-24-008577.txt ( ) — 322KB

Forward-Looking Statements

Forward-Looking Statements: This letter contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding the proposed business combination transaction between Diamondback and Endeavor; future performance; business strategy; future operations (including drilling plans and capital plans); estimates and projections of revenues, losses, costs, expenses, returns, cash flow, and financial position; reserve estimates and its ability to replace or increase reserves; anticipated benefits of strategic transactions (including acquisitions and divestitures), including the proposed transaction; the expected amount and timing of synergies from the proposed transaction; the anticipated timing of the proposed transaction; and plans and objectives of management (including plans for future cash flow from operations and for executing environmental strategies) are forward-looking statements. When used in this letter, the words "aim," "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "model," "outlook," "plan," "positioned," "potential," "predict," "project," "seek," "should," "target," "will," "would," and similar expressions (including the negative of such terms) are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback's control. Accordingly, forward-looking statements are not guarantees of future performance and actual outcomes could differ materially fr

View Full Filing

View this DEFA14A filing on SEC EDGAR