Diamondback Energy Cuts Breakeven to $37, Expects $550M Synergies and 2.7% Base Yield

FANGFANG

Diamondback Energy slashed its breakeven to $37 per barrel after acquiring Endeavor Energy to high-grade its Permian acreage and anticipates $550 million in annual synergies. The company’s shareholder reward plan returns 50% of free cash flow through a 2.7% base dividend plus variable payouts and stock buybacks.

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