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FANG: Diamondback has Permian scale, but Q1 shows why shale still needs discipline

FANGResearch reportPosted by Goglides ResearchMay 20, 2026
NASDAQFANGCoverage BootstrapEnergy

Thesis summary

Diamondback reported FY2025 revenue of $15.0 billion, operating cash flow of $8.8 billion and Q1 2026 revenue of $4.2 billion. The thesis depends on Permian well productivity, commodity prices, capital spending, acquisition integration and shareholder-return discipline.

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Diamondback reported FY2025 revenue of $15.0 billion, operating cash flow of $8.8 billion and Q1 2026 revenue of $4.2 billion. The thesis depends on Permian well productivity, commodity prices, capital spending, acquisition integration and shareholder-return discipline.

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