---
schema_version: "secwatch.filing_event.v1"
accession: "0001539838-22-000163"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T05:23:40.197556+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Diamondback Q3 net income $1.18B, EPS $6.72; $2.26 dividend; FireBird acquisition on track

## Summary
- Q3 net income $1.18B ($6.72 diluted EPS); adjusted EPS $6.48; cash from ops $1.93B; free cash flow $1.16B.
- Production averaged 390.6 MBOE/d; unhedged oil realized price $89.79/bbl; cash costs $11.97/BOE.
- Declared Q3 base $0.75 plus variable $1.51 per share (total $2.26), payable Nov 25, 5.6% annualized yield.
- Repurchased 3.92M shares for $472M in Q3; total return of capital $874M (~75% of FCF); Board authorized $4B buyback.
- FireBird acquisition $775M cash + 5.86M shares expected to close Nov 30; $1.1B notes offering funded Rattler redemption.

## SEC filing metadata
- accession: 0001539838-22-000163
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.02, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1539838/000153983822000163/0001539838-22-000163-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000153983822000163/fang-20221107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001539838-22-000163
- JSON: https://secwatch.observer/filing/0001539838-22-000163.json
- Plain text: https://secwatch.observer/filing/0001539838-22-000163.txt

## Key facts
- Earnings Releases
  Diamondback Energy, Inc. reported third quarter ended September 30, 2022 results: net income $1.18 billion, EPS $6.72 per diluted share.
  - Period: third quarter ended September 30, 2022
  - Net income: $1.18 billion
  - EPS: $6.72 per diluted share
  - Result: reported results
  source text: On November 7, 2022, Diamondback Energy, Inc. issued a press release reporting financial and operating results for the third quarter ended September 30, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983822000163/0001539838-22-000163-index.htm
- Material Agreements
  Diamondback Energy, Inc. terminated Rattler Notes Indenture with Rattler Midstream LP valued at approximately $522 million (effective 2022-11-01).
  - Action: termination
  - Agreement: notes offering
  - Counterparty: Rattler Midstream LP
  - Value: approximately $522 million
  - Effective: 2022-11-01
  source text: On November 1, 2022 (the “Rattler Notes Redemption Date”), approximately $522 million, the redemption price for the Rattler Notes (the “Rattler Notes Redemption Payment”), was paid to holders of the Rattler Notes. As of the Rattler Notes Redemption Date, there were no Rattler Notes outstanding under that certain Indenture, dated as of July 14, 2020 (the “Indenture”), as supplemented and modified by the Supplemental Indenture, dated as of December 8, 2021, and the Supplemental Indenture, dated as of December 22, 2021 (the Indenture, as so supplemented, the “Rattler Notes Indenture”), and Rattler and its subsidiaries that were guarantors of the Rattler Notes had no further obligations with respect to the Rattler Notes under the Rattler Notes Indenture.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983822000163/0001539838-22-000163-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.