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Stock Market & Financial Investment News

News Breaks
May 15, 2013
20:06 EDTFANGDiamondback Energy 4.5M share Secondary priced at $29.25
The deal size was raised to 4.5M shares from 4M shares. Credit Suisse, Raymond James, Tudor Pickering, Wells Fargo, Capital One and Howard Weil acted as joint book running managers for the offering.
News For FANG From The Last 14 Days
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April 22, 2014
08:22 EDTFANGDiamondback Energy price target raised to $93 from $77 at Sterne Agee
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April 15, 2014
10:00 EDTFANGOn The Fly: Analyst Downgrade Summary
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06:26 EDTFANGDiamondback Energy downgraded to Neutral from Buy at SunTrust
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April 10, 2014
16:05 EDTFANGDiamondback Energy says Q1 production increased 30% to 13.6 Mboe/d
The company reported Q1 production increased 30% to 13.6 Mboe/d from Q4 2013, with a quarter-end exit rate in excess of 16 Mboe/d. Full year 2014 production guidance increases 10% from 15 to 16 Mboe/d to 16 to 18 Mboe/d. This reflects an estimated 132% production growth year over year at the midpoint of the estimated production range, 2.5-3.0 Mboe/d of this production growth is estimated to come from our mineral interests. On February 28, Diamondback closed another accretive acquisition of 6,450 gross, or 4,785 net, acres in Martin County for an asset purchase price of $294.4M from private sellers. The company said, "We are encouraged by our continued horizontal well success across our acreage base and we are especially excited about our results further north in the Midland Basin. Early indications from the Mabee Breedlove 22-1H in northwest Martin County appear to better than industry offset wells by more than 25%. These early results appear to validate our production model on this acreage block acquired last year for considerably below current market prices," commented Diamondback CEO, Travis Stice. Stice continued, "We exited the quarter at more than 16 Mboe/d of production; however we continue to expect production variability going forward due to the effects of pad drilling."

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