Diamondback Energy (FANG) Tops Q2 EPS by 4c
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Diamondback Energy (NASDAQ: FANG) reported Q2 EPS of $0.41, $0.04 better than the analyst estimate of $0.37.
FULL YEAR 2015 GUIDANCE
Below is our full year 2015 guidance, which has been updated to account for the increased production guidance range of 30.0 to 32.0 Mboe/d. The Company expects to complete 60 to 70 gross (49 to 57 net) horizontal wells, up from prior guidance range of 55 to 65 gross (45 to 53 net) horizontal wells. As a result of the impairment charge recorded in second quarter of 2015, the Company has revised its guidance for depreciation, depletion and amortization expense for 2015 to range from $19.00 to $21.00 per boe from prior guidance range of $20.00 to $22.00 per boe.
| 2015 Guidance | ||
| Diamondback Energy, Inc | Viper Energy Partners LP | |
| Total Net Production – MBoe/d | 30.0 – 32.0 | 4.8 – 5.1 |
| Unit costs ($/boe) | ||
| Lease operating expenses, including workovers | $7.00 -- $8.00 | $0.00 |
| G&A | ||
| Cash G&A | $1.00 -- $2.00 | $1.00 -- $2.00 |
| Non-cash equity-based compensation | $1.00 -- $2.00 | $2.00 -- $3.00 |
| DD&A | $19.00 -- $21.00 | $20.00 -- $22.00 |
| Production and ad valorem taxes (% of revenue) (a) | 7.1% | 7.5% |
| ($ - million) | ||
| Gross horizontal well costs (b) | $6.2 -- $6.7 | n/a |
| Horizontal wells drilled & completed (net) | 60 – 70 (49 – 57) | n/a |
| Interest expense (net of interest income) | $40.0 -- $50.0 | n/a |
| Capital Budget ($ - million) | ||
| Horizontal drilling and completion | $285.0 -- $315.0 | n/a |
| Infrastructure | $20.0 -- $30.0 | n/a |
| Non-op and other | $20.0 -- $30.0 | n/a |
| 2015 Capital Budget | $325.0 -- $375.0 | n/a |
| Net carry in | $75.0 | n/a |
| 2015 Capital Spend | ||
For earnings history and earnings-related data on Diamondback Energy (FANG) click here.
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