FANG · 10-Q · 2026Q2 · Full report
Capital Expenditures Program
Diamondback Energy, Inc. · 2026-08-05 · Importance 80 · Surprise 68 · Contradicted
Cash capital expenditures excluding acquisitions and equity-method investments increased 7% to $1.929 billion in the first six months of 2026 from $1.806 billion in 2025. Operated drilling and completion additions increased to $1.626 billion, while non-operated and other additions increased to $303 million. The board increased 2026 capital budget guidance by 4% to approximately $3.90 billion, including $3.31 billion for operated horizontal drilling and completions. Diamondback was operating 17 drilling rigs and five completion crews at the filing date.
Key facts
- Additions to oil and natural gas properties (cash used in investing), six months ended June 30, 2026: ($1,929) million source
- Operated drilling and completion additions to oil and natural gas properties (cash basis) for the six months ended June 30, 2026: $(1,626) million; non-operated additions and other $(303) million; total $(1,929) million. source
- Proved oil and natural gas properties, June 30, 2026: $74,385 million source
- Unproved properties, June 30, 2026: $23,193 million source
- Accumulated depletion, depreciation, amortization and impairment: ($31,705) million as presented (June 30, 2026) source
- Gross oil and natural gas properties: $97,578 million at June 30, 2026 source
- Accumulated depletion: ($18,475) million as of June 30, 2026 source
- Oil and natural gas properties, net: $66,096 million as of June 30, 2026 source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -2.8% | Additions to oil and natural gas properties (cash used in investing), six months ended June 30, 2026: ($1,929) million |
| assets | positive | realized | +2.8% | Operated drilling and completion additions to oil and natural gas properties (cash basis) for the six months ended June 30, 2026: $(1,626)… |
| assets | positive | realized | — | Proved oil and natural gas properties, June 30, 2026: $74,385 million |
| assets | positive | realized | — | Unproved properties, June 30, 2026: $23,193 million |
| assets | negative | realized | — | Accumulated depletion, depreciation, amortization and impairment: ($31,705) million as presented (June 30, 2026) |
| assets | positive | realized | — | Gross oil and natural gas properties: $97,578 million at June 30, 2026 |
| assets | negative | realized | — | Accumulated depletion: ($18,475) million as of June 30, 2026 |
| assets | positive | realized | — | Oil and natural gas properties, net: $66,096 million as of June 30, 2026 |