FANG · 10-Q · 2026Q2 · Full report

Liquidity and Debt Position

Diamondback Energy, Inc. · 2026-08-05 · Importance 61 · Surprise 32 · No source text

Total debt declined to $12.614 billion at June 30, 2026, consisting of $1.548 billion of current maturities and $11.066 billion of long-term debt, compared with $13.726 billion of long-term debt at December 31, 2025. Six-month debt repayments totaled $8.047 billion against $6.290 billion of debt proceeds, producing a $1.757 billion net debt repayment. Total assets were $70.218 billion and total liabilities were $26.233 billion at June 30, 2026, while total equity increased to $43.985 billion from $42.967 billion at year-end 2025. Proceeds from Viper’s secondary offering were used partly to accelerate debt reduction, and proceeds from the Viper non-Permian divestiture were used to repay the Viper 2025 Term Loan and revolving-credit borrowings.

Key facts

• On June 12, 2026, Viper’s Revolving Credit Facility commitments were increased from $1.5 billion to $2.0 billion and the maturity date was extended by one year to June 12, 2031. source
• The Company retired approximately $828 million in aggregate principal of its senior notes and $550 million in outstanding borrowings on its 2025 Term Loan in the second quarter of 2026, which resulted in termination of the 2025 Term Loan upon repayment. source
• On June 12, 2026, the Company entered into a seventeenth amendment to the Credit Agreement which extended the maturity date by one year to June 12, 2031, increased Revolving Credit Facility commitments from $2.5 billion to $3.0 billion, and decreased the interest rate applicable to loans and certain fees. source
• Gain on extinguishment of debt for Q2 2026 primarily relates to tender offer repurchasing $777 million aggregate principal value of senior notes at an average of 81.1% of par value. source
• During the six months ended June 30, 2026, net cash used in financing activities included $1.1 billion for repayment of the 2025 Term Loan and Viper 2025 Term Loan, $917 million of repurchases as part of share repurchase programs, $697 million in repurchases of senior notes, $609 million of dividends paid to stockholders including dividend equivalent rights, $279 million in dividends paid to non-controlling interest, $10 million net repayments on credit facilities, partially offset by $589 million proceeds from the Secondary Offering. source
• In connection with the Double Eagle Acquisition, the Company entered into a $1.5 billion term loan credit agreement (the 2025 Term Loan) on March 21, 2025, which was fully drawn on April 1, 2025. source
• At June 30, 2026, liquidity was approximately $3.4 billion consisting of $385 million in standalone cash and cash equivalents and $3.0 billion available under the credit facility; approximately $1.5 billion of senior notes maturing in the next 12 months. source
• Total debt, net was $12,614 million as of June 30, 2026 and $14,489 million as of December 31, 2025. source

Impact estimates