FANG · 10-Q · 2026Q3 · Full report
Liquidity and Debt Position
Diamondback Energy, Inc. · 2026-11-04 · Importance 69 · Surprise 50 · Contradicted
Total debt, net, was $13.230 billion at September 30, 2026, down from $14.489 billion at December 31, 2025; long-term debt was $11.682 billion at September 30, 2026. In June 2026, Diamondback increased its revolving credit facility from $2.5 billion to $3.0 billion and extended its maturity to June 12, 2031; it had no borrowings and approximately $3.0 billion available at quarter-end. Viper increased its revolving facility from $1.5 billion to $2.0 billion and extended maturity to June 12, 2031; approximately $1.2 billion was available at September 30, 2026. Diamondback repaid its remaining 2025 term loan on April 22, 2026, and Viper repaid and terminated its 2025 term loan on February 13, 2026; both companies reported compliance with their financial maintenance covenants at September 30, 2026.
Key facts
- On June 12, 2026, Diamondback amended its revolving credit agreement to extend maturity one year to June 12, 2031, increase commitments from $2.5 billion to $3.0 billion and reduce the applicable interest rate and certain fees. source
- On April 22, 2026, Diamondback paid the remaining outstanding principal on its $1.5 billion 2025 Term Loan in full and terminated the loan. source
- In October 2026, Diamondback retired approximately $893 million of senior notes for approximately $889 million in cash, including accrued interest. source
- At September 30, 2026, Diamondback had long-term debt of $11,682 million, compared with $13,726 million at December 31, 2025. source
- As of September 30, 2026, Diamondback had approximately $3.5 billion of liquidity: $548 million in standalone cash and cash equivalents and $3.0 billion available under its credit facility. source
- At September 30, 2026, Diamondback had approximately $1.5 billion of senior notes maturing in the next 12 months. source
- As of September 30, 2026, Diamondback's Revolving Credit Facility matured June 12, 2031, had a $3.0 billion maximum credit amount, and was fully available for future borrowing. source
- As of September 30, 2026, Diamondback had no outstanding borrowings under its Revolving Credit Facility and approximately $3.0 billion available for future borrowing. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | positive | realized | +2.8% | At September 30, 2026, Diamondback had long-term debt of $11,682 million, compared with $13,726 million at December 31, 2025. |
| cash | negative | realized | -2.1% | On April 22, 2026, Diamondback paid the remaining outstanding principal on its $1.5 billion 2025 Term Loan in full and terminated the loan. |
| liability | negative | committed | -1.8% | At September 30, 2026, Diamondback had approximately $1.5 billion of senior notes maturing in the next 12 months. |
| liability | positive | realized | +1.2% | In October 2026, Diamondback retired approximately $893 million of senior notes for approximately $889 million in cash, including accrued… |
| cash | negative | realized | -1.2% | In October 2026, Diamondback retired approximately $893 million of senior notes for approximately $889 million in cash, including accrued… |
| net_income | positive | committed | — | On June 12, 2026, Diamondback amended its revolving credit agreement to extend maturity one year to June 12, 2031, increase commitments… |