---
schema_version: "secwatch.filing_event.v1"
accession: "0001539838-26-000073"
form_type: "8-K"
ticker: "FANG"
cik: "0001539838"
company_name: "Diamondback Energy, Inc."
filed_at: "2026-05-04T23:59:59+00:00"
generated_at: "2026-05-14T23:53:31.540301+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Diamondback Energy Q1 oil production 521 MBO/d, raises dividend 10%, increases production guidance

## Summary
- Average Q1 oil production 521.0 MBO/d (979.4 MBOE/d); net cash ops $1.8B; operating cash flow before WC changes $2.6B; FCF $1.7B.
- Base dividend raised to $1.10/share (+10% YoY); implied ~2.1% annualized yield; declared Q1 2026 dividend.
- Repurchased 3.3M shares for $548M; total return of capital $859M (~50% of Adj. Free Cash Flow).
- Raised FY 2026 oil guidance to 520+ MBO/d from 500-510; total BOE to 972+ MBOE/d; full year capex raised to ~$3.90B.
- Q2 2026 oil guidance 515-525 MBO/d; cash capex $925M-$1,025M.

## SEC filing metadata
- accession: 0001539838-26-000073
- form_type: 8-K
- ticker: FANG
- cik: 0001539838
- company_name: Diamondback Energy, Inc.
- filed_at: 2026-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1539838/000153983826000073/0001539838-26-000073-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1539838/000153983826000073/fang-20260504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001539838-26-000073
- JSON: https://secwatch.observer/filing/0001539838-26-000073.json
- Plain text: https://secwatch.observer/filing/0001539838-26-000073.txt

## Key facts
- Earnings Releases
  Diamondback Energy, Inc. updated its first quarter ended March 31, 2026 guidance (raised).
  - Period: first quarter ended March 31, 2026
  - Guidance: raised
  - Result: reported results
  source text: On May 4, 2026, Diamondback Energy, Inc. (the “Company”) issued a press release announcing financial and operating results for the first quarter ended March 31, 2026, including the first quarter 2026 base cash dividend and an increase in the annual base dividend and production guidance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1539838/000153983826000073/0001539838-26-000073-index.htm

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