Oil output increased to 525,176 bpd as total production rose to 1,017,659 boe/d, clearing the 1 million boe/d milestone.
Net cash from operations rose to USD 3.59 billion as free cash flow reached USD 2.33 billion, while cash capital expenditures totaled USD 996 million.
Quarterly earnings and revenue
Diamondback posted Q2 net income attributable to shareholders of USD 1.88 billion, swinging from USD 699 million a year earlier; diluted EPS rose to USD 6.65.
Revenue climbed 51.22% to USD 5.56 billion from USD 3.68 billion a year earlier, while operating income more than doubled to USD 2.51 billion.
Balance sheet and shareholder returns
Debt fell about USD 1.3 billion from Q1 to USD 12.77 billion; the base dividend was set at USD 1.10 a share as buyback authorization doubled to USD 16 billion.
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