Diamondback Energy (FANG) Tops Q3 EPS by 8c, Offers Guidance
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Diamondback Energy (NASDAQ: FANG) reported Q3 EPS of $0.40, $0.08 better than the analyst estimate of $0.32.
FULL YEAR 2015 GUIDANCE
Below is Diamondback's full year 2015 guidance, which has been updated to account for the increased production guidance range of 31.0 to 32.0 Mboe/d. As a result of the impairment charge recorded in third quarter of 2015, the Company has revised its guidance for depreciation, depletion and amortization expense ("DD&A") for 2015 to range from $17.00 to $19.00 per boe from prior guidance range of $19.00 to $21.00 per boe.
| 2015 Guidance | ||
| Diamondback Energy, Inc | Viper Energy Partners LP | |
| Total Net Production – MBoe/d | 31.0 – 32.0 | 5.0 – 5.2 |
| Unit costs ($/boe) | ||
| Lease operating expenses, including workovers | $7.00 - $8.00 | — |
| 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 | $17.00 - $19.00 | $17.00 - $19.00 |
| Production and ad valorem taxes (% of revenue)(a) | 7.1% | 7.5% |
| ($ - million) | ||
| Gross horizontal well costs(b) | $6.2 - $6.4 | 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 | $400.0 - $450.0 | n/a |
| (a) Includes production taxes of 4.6% for crude oil and 7.5% for natural gas and NGLs and ad valorem taxes. | ||
| (b) Assumes a 7,500' average lateral length. | ||
For earnings history and earnings-related data on Diamondback Energy (FANG) click here.
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