Diamondback Energy, Inc. FANG Income Statement

Diamondback energy, inc. (FANG)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Sep'11
Revenues:
Oil sales - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,274
Natural gas sales - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,374	2,416	1,580	738	704	680	412	379	370	106	155	207
Lease bonus
0	0	1,000	2,000	1,000	1,000	1,000	1,000	0	9,493	322	583	1,602	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating income
2,000	2,000	2,000	3,000	2,000	2,000	3,000	2,000	2,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revenues
899,000	1,104,000	975,000	1,021,000	864,000	633,000	537,000	527,000	479,000	399,083	301,253	269,434	235,230	185,012	142,131	112,483	87,481	114,323	111,946	119,063	101,401	131,583	139,127	127,004	98,004	75,908	57,791	45,394	28,909	25,767	16,814	16,030	16,351	10,971
Natural gas liquid sales - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,390	4,089	2,327	1,798	1,172	1,043	683	869	1,035	512	624	437
Oil and natural gas services - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Costs and expenses:
Lease operating expenses
127,000	126,000	128,000	127,000	109,000	76,000	49,000	43,000	37,000	38,887	32,498	28,989	26,626	23,348	22,180	18,677	18,223	17,508	22,189	20,472	22,456	23,386	13,766	10,425	7,807	4,937	4,718	5,103	5,233	5,245	3,242	3,523	2,221	2,035
Production and ad valorem taxes
71,000	68,000	61,000	64,000	55,000	40,000	33,000	33,000	27,000	24,025	18,371	15,879	15,725	9,212	9,123	8,159	7,962	7,954	8,966	7,675	8,395	10,320	8,634	8,106	5,578	4,956	3,420	2,672	1,351	2,277	1,194	738	741	244
Lease operating expenses - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39	71	108	326	246	392	202	175	267	6	568	1,084
Production and ad valorem taxes - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	320	448	264	175	133	116	76	88	99	44	56	291
Gathering and transportation - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	750	601	368	215	192	216	58	97	109	44	50	41
Oil and natural gas services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Oil and natural gas services - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Depreciation, depletion and amortization
407,000	401,000	365,000	359,000	322,000	232,000	146,000	130,000	115,000	105,319	87,579	75,173	58,929	51,329	44,746	39,871	42,069	48,549	52,375	57,096	59,677	53,641	45,370	40,021	30,973	23,621	17,423	14,815	10,738	9,721	6,136	5,659	4,757	3,680
Impairment of oil and natural gas properties
1,009,000	-	-	-	0	-	-	-	-	-	-	-	-	0	46,368	168,352	30,816	217,610	273,737	323,451	0	-	0	0	-	-	-	-	-	-	-	-	-	-
General and administrative expenses
24,000	36,000	19,000	22,000	27,000	20,000	14,000	15,000	16,000	10,476	11,888	11,892	13,744	10,208	9,908	9,524	12,979	8,522	7,526	7,684	8,236	7,375	6,016	3,610	4,265	3,520	1,810	2,355	2,185	6,375	1,323	1,005	475	129
General and administrative expenses - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	479	324	292	303	311	266	286	-486	327	648	709	626
Asset Retirement Obligation, Accretion Expense
2,000	1,000	1,000	3,000	2,000	1,000	0	0	1,000	-30	357	350	323	294	270	254	246	245	238	180	170	164	127	104	72	67	46	45	43	35	22	21	20	17
Other operating expense
2,000	1,000	1,000	1,000	1,000	1,000	1,000	0	1,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total costs and expenses
1,701,000	1,488,000	626,000	610,000	545,000	438,000	269,000	246,000	212,000	185,440	158,614	137,126	118,820	97,933	135,438	247,269	115,084	302,136	366,719	418,183	99,964	93,684	75,611	63,812	49,941	38,182	28,368	26,011	20,247	23,590	12,728	11,723	9,614	8,159
Operating Income (Loss)
-802,000	-384,000	349,000	411,000	319,000	195,000	268,000	281,000	267,000	213,643	142,639	132,308	116,410	87,079	6,693	-134,786	-27,603	-187,813	-254,773	-299,120	1,437	37,899	63,516	63,192	48,063	37,726	29,423	19,383	8,662	2,177	4,086	4,307	6,737	2,812
Other income (expense):
Interest expense, net
-48,000	-39,000	-38,000	-49,000	-46,000	-38,000	-19,000	-16,000	-14,000	-11,338	-9,192	-8,245	-12,225	-10,418	-10,234	-10,019	-10,013	-	-10,633	-10,274	-	-	-	-	-	-	1	-	0	0	1	1	1	2
Other (expense) income, net
1,000	-7,000	2,000	2,000	1,000	0	2,000	84,000	3,000	1,528	3	8,324	1,145	1,417	907	177	563	-520	300	433	515	660	17	0	0	-	0	-	-	-	-	-	-	-
Interest income (expense)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,497	-	9,846	7,739	6,505	-	1,089	535	485	426	1,130	1,173	881	718
Other income - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31	30	30	30	270	388	389	478	643	586	425	0
Other expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8	1,408	-	-	0	0	-	-	-	-	-	-
Gain (loss) on derivative instruments, net
542,000	-111,000	177,000	94,000	-268,000	240,000	-48,000	-59,000	-32,000	-98,376	-50,645	33,320	37,701	-16,680	2,034	-12,125	1,426	5,117	27,603	-19,123	18,354	128,116	14,909	-11,088	-4,398	9	-4,910	3,037	-8	600	-3,148	9,957	-4,792	-7
(Loss) gain on revaluation of investment
-10,000	1,000	0	0	4,000	-6,000	0	4,000	1,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-54	-13	0
Nonoperating Income (Expense)
485,000	-212,000	141,000	47,000	-309,000	196,000	-65,000	13,000	-42,000	-108,186	-59,834	33,399	26,621	-58,815	-7,293	-21,967	-8,024	-5,509	17,270	-28,964	8,372	118,261	5,103	-20,205	-10,873	-5,911	-5,728	2,890	-104	652	-3,634	9,317	-5,260	-723
Income (loss) before income taxes
-317,000	-596,000	490,000	458,000	10,000	391,000	203,000	294,000	225,000	105,457	82,805	165,707	143,031	28,264	-600	-156,753	-35,627	-193,322	-237,503	-328,084	9,809	156,160	68,619	42,987	37,190	31,815	23,695	22,273	8,558	2,829	452	13,624	1,477	-
Income Tax Expense (Benefit)
83,000	-124,000	102,000	102,000	-33,000	85,000	43,000	-7,000	47,000	-24,393	857	1,579	1,957	-176	0	368	0	-6,487	-81,461	-116,732	3,370	56,243	23,978	15,163	13,601	11,691	9,099	7,802	3,162	54,903	0	0	0	-
Current
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-400,000	-472,000	388,000	356,000	43,000	306,000	160,000	301,000	178,000	129,850	81,948	164,128	141,074	28,440	-600	-157,121	-35,627	-186,835	-156,042	-211,352	6,439	99,917	44,641	27,824	23,589	-	14,596	14,471	-	-	-	-	-	2,089
Net (loss) income attributable to non-controlling interest
-128,000	15,000	20,000	7,000	33,000	-1,000	3,000	82,000	15,000	15,552	8,924	5,723	4,801	2,842	1,630	-1,631	-2,715	574	739	935	590	1,243	902	71	0	-	0	0	-	-	-	-	-	-
Net (loss) income attributable to Diamondback Energy, Inc.
-272,000	-487,000	368,000	349,000	10,000	307,000	157,000	219,000	163,000	114,298	73,024	158,405	136,273	25,598	-2,230	-155,490	-32,912	-187,409	-156,781	-212,287	5,849	98,674	43,739	27,753	23,589	20,124	14,596	14,471	5,396	-52,074	452	13,624	1,477	-
Earnings per common share:
Basic (in USD per share)
-1.72	-2.98	2.27	2.12	0.06	2.63	1.59	2.22	1.65	1.14	0.74	1.61	1.46	0.46	-0.03	-2.17	-0.46	-2.99	-2.40	-3.45	0.10	1.84	0.79	0.55	0.49	0.45	0.33	0.37	0.15	-	-	-	-	-
Diluted (in USD per share)
-1.72	-2.96	2.26	2.11	0.06	2.60	1.59	2.22	1.65	1.13	0.74	1.61	1.46	0.46	-0.03	-2.17	-0.46	-2.99	-2.40	-3.45	0.10	1.83	0.79	0.54	0.48	0.45	0.33	0.36	0.15	-	-	-	-	-
Weighted average common shares outstanding:
Basic (in shares)
158,291	161,738	162,543	164,839	164,852	122,681	98,638	98,614	98,555	100,385	98,144	98,142	93,161	80,396	77,167	71,719	71,026	66,969	65,251	61,469	58,386	56,928	55,152	50,777	48,447	47,213	44,385	39,402	37,059	-	-	-	-	-
Diluted (in shares)
158,494	162,512	162,780	165,019	165,061	123,332	98,818	98,797	98,769	100,665	98,369	98,354	93,364	80,396	77,167	71,719	71,026	66,729	65,251	61,469	58,626	57,737	55,442	51,142	48,867	47,397	44,698	39,719	37,205	-	-	-	-	-
Dividends declared per share (in USD per share)
0.37	0.37	0.18	0.18	0.18	0.12	0.12	0.12	0.12	0.00	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pro forma information (unaudited)
Income before income taxes, as reported
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,695	22,273	8,558	2,829	452	13,624	1,477	-
Net income before income taxes, as reported
-400,000	-472,000	388,000	356,000	43,000	306,000	160,000	301,000	178,000	129,850	81,948	164,128	141,074	-	-600	-157,121	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,089
Pro forma provision for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,008	161	4,857	527	0
Pro forma net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,821	291	8,767	950	2,089
Pro forma earnings per common share - basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.02	0.60	0.06	0.15
Pro forma weighted average common shares outstanding - basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,697	14,697	14,697	14,000
Oil sales
Revenue
827,000	982,000	882,000	947,000	743,000	545,000	454,000	461,000	419,000	339,993	259,049	237,884	207,074	163,830	126,353	101,325	79,020	103,865	101,307	107,627	92,916	117,798	126,406	115,282	89,758	69,380	53,086	41,034	25,253	22,162	14,530	14,366	14,646	1,282
Natural gas sales
Revenue
4,000	30,000	16,000	-9,000	29,000	21,000	14,000	12,000	14,000	14,463	14,922	12,693	9,922	8,041	6,334	4,109	4,022	5,161	5,673	4,410	4,348	12,022	2,338	1,913	1,755	1,129	859	988	739	764	208	205	192	181
Natural gas liquid sales
Revenue
52,000	77,000	58,000	62,000	70,000	57,000	57,000	43,000	33,000	32,375	25,266	16,857	15,502	13,141	9,444	7,049	4,439	5,297	4,966	7,026	4,137	18,939	3,619	3,304	2,584	2,863	1,970	1,649	1,822	1,593	671	841	734	590
Midstream services
Revenue
14,000	13,000	16,000	16,000	19,000	7,000	8,000	8,000	11,000	2,759	1,694	1,417	1,130	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of goods and services sold
23,000	31,000	26,000	17,000	17,000	23,000	20,000	18,000	11,000	2,873	4,445	1,828	854	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income (Loss)
-	-	-	56,000	-	-	-	24,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Nonoperating Income (Expense)
-	-	-	0	-	-	-	-4,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for (benefit from) income taxes
-	-	-	1,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to non-controlling interest
-	-	-	15,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
-	-	-	40,000	-	-	-	20,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gathering and transportation
Cost of goods and services sold
36,000	34,000	25,000	17,000	12,000	9,000	6,000	7,000	4,000	3,890	3,476	3,015	2,619	3,542	2,843	2,432	2,789	1,748	1,688	1,625	1,030	2,862	110	102	214	62	69	31	75	63	9	35	17	12