Diamondback Energy Files DEFA14A for Q4 2023 Earnings Call

TL;DR

**Diamondback Energy just filed proxy materials for their Q4 2023 earnings call, signaling upcoming financial details.**

AI Summary

Diamondback Energy, Inc. filed a DEFA14A on February 21, 2024, related to soliciting material for its Q4 2023 earnings call held on the same date. The filing indicates that no fee was required for this submission. The company, headquartered in Midland, TX, operates in the crude petroleum & natural gas industry.

Why It Matters

This filing provides additional context and materials related to Diamondback Energy's Q4 2023 financial performance, which can influence investor sentiment and stock valuation.

Risk Assessment

Risk Level: low — This is a routine filing for additional soliciting materials related to an earnings call, not indicating any immediate financial or operational risk.

Key Players & Entities

• Diamondback Energy, Inc. (company) — Registrant
• February 21, 2024 (date) — Filing date and Q4 2023 earnings call date
• Midland, TX (location) — Business address of Diamondback Energy, Inc.
• 001-35700 (other) — SEC File Number

FAQ

Key Financial Figures

• $30 — ount, there's some that breakeven below $30, right? I mean it's all about what we'r
• $55 — istorically bought first in the kind of $55 WTI range. We now kind of stepped it up
• $60 — w kind of stepped it up to kind of that $60 range and we'll probably be a little mo
• $10 billion — through kind of the past to get to the $10 billion net debt target in terms of timing? And
• $75 — Arun, I think we kind of laid out in a $75 world, generally, the 2 businesses thro
• $5 billion — his year will combine to generate about $5 billion of free cash flow. And if we're looking
• $2 billion — ose, just high level, half that number, $2 billion to $2.5 billion will be used to reduce
• $2.5 billion — level, half that number, $2 billion to $2.5 billion will be used to reduce the cash portion
• $12 billion — e. That kind of puts you in the kind of $12 billion of full net debt at close. And with the
• $3 billion — hat came up was on the synergies of the $3 billion worth of synergies. Most of those under
• $6 billion — we eventually want to get to kind of a $6 billion to $8 billion net debt number, keep rea
• $8 billion — want to get to kind of a $6 billion to $8 billion net debt number, keep real cash on the
• $700 million — 2024, will be about, say, round number $700 million lower. Can you break down that how much
• $1.5 million — C. And so that's basically 175 wells at $1.5 million to $2 million cheaper, gets you to abou
• $2 million — basically 175 wells at $1.5 million to $2 million cheaper, gets you to about $300 million

Filing Documents

• ny20021341x7_defa14a.htm (DEFA14A) — 63KB
• 0001140361-24-008838.txt ( ) — 64KB

Forward-Looking Statements

Forward-Looking Statements This communication 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 communication, 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

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View this DEFA14A filing on SEC EDGAR