XML 77 R66.htm IDEA: XBRL DOCUMENT v3.10.0.1
Guarantor Financial Statements - Income Statement (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Revenue $ 526,273 $ 269,434 $ 1,006,468 $ 504,664
Lease bonus income 928 583 928 2,185
Other operating income 2,425 0 4,466 0
Costs and expenses:        
Lease operating expenses 42,647 28,989 79,992 55,615
Production and ad valorem taxes 32,202 15,879 59,506 31,604
Depreciation, depletion and amortization 129,867 75,173 245,083 134,102
General and administrative expenses 14,529 11,892 30,854 25,636
Asset retirement obligation accretion 365 350 720 673
Other operating expense 946 0 1,476 0
Total costs and expenses 244,970 137,126 457,519 255,946
Operating Income (Loss) 281,303 132,308 548,949 248,718
Other income (expense):        
Interest expense, net (17,096) (8,245) (30,797) (20,470)
Other income, net 84,472 8,324 87,208 9,469
Gain (loss) on derivative instruments, net (58,587) 33,320 (90,932) 71,021
Gain on revaluation of investment 4,465 0 5,364 0
Total other income (expense), net 13,254 33,399 (29,157) 60,020
Income (loss) before income taxes 294,557 165,707 519,792 308,738
Provision for income taxes (6,607) 1,579 40,474 3,536
Net income 301,164 164,128 479,318 305,202
Net income attributable to non-controlling interest 82,018 5,723 97,360 10,524
Net income (loss) attributable to Diamondback Energy, Inc. 219,146 158,405 381,958 294,678
Eliminations [Member]        
Revenues:        
Revenue 0 (106) 0 (106)
Lease bonus income 0 (106) 0 (106)
Other operating income 0   0  
Costs and expenses:        
Lease operating expenses 0 0 0 0
Production and ad valorem taxes 0 0 0 0
Depreciation, depletion and amortization 4,627 410 8,102 601
General and administrative expenses (615) (615) (1,230) (1,230)
Asset retirement obligation accretion 0 0 0 0
Other operating expense 0   0  
Total costs and expenses 4,012 (205) 6,872 (629)
Operating Income (Loss) (4,012) 99 (6,872) 523
Other income (expense):        
Interest expense, net 0 0 0 0
Other income, net (615) (615) (1,230) (1,230)
Gain (loss) on derivative instruments, net 0 0 0 0
Gain on revaluation of investment 0   0  
Total other income (expense), net (615) (615) (1,230) (1,230)
Income (loss) before income taxes (4,627) (516) (8,102) (707)
Provision for income taxes 0 0 0 0
Net income (4,627) (516) (8,102) (707)
Net income attributable to non-controlling interest 52,958 5,723 68,300 10,524
Net income (loss) attributable to Diamondback Energy, Inc. (57,585) (6,239) (76,402) (11,231)
Parent Company [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Lease bonus income 0 0 0 0
Other operating income 0   0  
Costs and expenses:        
Lease operating expenses 0 0 0 0
Production and ad valorem taxes 0 0 0 0
Depreciation, depletion and amortization 0 0 0 0
General and administrative expenses 6,539 6,432 14,029 13,540
Asset retirement obligation accretion 0 0 0 0
Other operating expense 0   0  
Total costs and expenses 6,539 6,432 14,029 13,540
Operating Income (Loss) (6,539) (6,432) (14,029) (13,540)
Other income (expense):        
Interest expense, net (10,145) (6,325) (19,077) (17,133)
Other income, net 211 0 334 1,092
Gain (loss) on derivative instruments, net 0 0 0 0
Gain on revaluation of investment 0   0  
Total other income (expense), net (9,934) (6,325) (18,743) (16,041)
Income (loss) before income taxes (16,473) (12,757) (32,772) (29,581)
Provision for income taxes 65,271 1,579 112,352 3,536
Net income (81,744) (14,336) (145,124) (33,117)
Net income attributable to non-controlling interest 0 0 0 0
Net income (loss) attributable to Diamondback Energy, Inc. (81,744) (14,336) (145,124) (33,117)
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 450,867 232,918 868,619 434,496
Lease bonus income 0 0 0 0
Other operating income 2,367   4,358  
Costs and expenses:        
Lease operating expenses 42,647 28,989 79,992 55,615
Production and ad valorem taxes 27,335 13,106 50,400 26,761
Depreciation, depletion and amortization 111,980 65,091 212,196 115,982
General and administrative expenses 6,395 4,521 13,134 9,630
Asset retirement obligation accretion 365 350 720 673
Other operating expense 946   1,476  
Total costs and expenses 213,939 116,756 397,398 216,690
Operating Income (Loss) 236,928 116,162 471,221 217,806
Other income (expense):        
Interest expense, net (3,699) (1,277) (6,370) (2,082)
Other income, net 84,429 8,626 87,265 9,480
Gain (loss) on derivative instruments, net (58,587) 33,320 (90,932) 71,021
Gain on revaluation of investment 0   0  
Total other income (expense), net 22,143 40,669 (10,037) 78,419
Income (loss) before income taxes 259,071 156,831 461,184 296,225
Provision for income taxes 0 0 0 0
Net income 259,071 156,831 461,184 296,225
Net income attributable to non-controlling interest 0 0 0 0
Net income (loss) attributable to Diamondback Energy, Inc. 259,071 156,831 461,184 296,225
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 75,406 36,622 137,849 70,274
Lease bonus income 928 689 928 2,291
Other operating income 58   108  
Costs and expenses:        
Lease operating expenses 0 0 0 0
Production and ad valorem taxes 4,867 2,773 9,106 4,843
Depreciation, depletion and amortization 13,260 9,672 24,785 17,519
General and administrative expenses 2,210 1,554 4,921 3,696
Asset retirement obligation accretion 0 0 0 0
Other operating expense 0   0  
Total costs and expenses 20,480 14,143 39,220 26,345
Operating Income (Loss) 54,926 22,479 98,629 43,929
Other income (expense):        
Interest expense, net (3,252) (643) (5,350) (1,255)
Other income, net 447 313 839 127
Gain (loss) on derivative instruments, net 0 0 0 0
Gain on revaluation of investment 4,465   5,364  
Total other income (expense), net 1,660 (330) 853 (1,128)
Income (loss) before income taxes 56,586 22,149 99,482 42,801
Provision for income taxes (71,878) 0 (71,878) 0
Net income 128,464 22,149 171,360 42,801
Net income attributable to non-controlling interest 29,060 0 29,060 0
Net income (loss) attributable to Diamondback Energy, Inc. 99,404 22,149 142,300 42,801
Oil sales        
Revenues:        
Revenue 460,437 237,884 879,705 444,958
Oil sales | Eliminations [Member]        
Revenues:        
Revenue 65,885 31,771 121,572 60,615
Oil sales | Parent Company [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Oil sales | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 394,552 206,113 758,133 384,343
Oil sales | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Natural gas sales        
Revenues:        
Revenue 11,365 12,693 25,743 22,615
Natural gas sales | Eliminations [Member]        
Revenues:        
Revenue 2,651 1,954 5,229 3,301
Natural gas sales | Parent Company [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Natural gas sales | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 8,714 10,739 20,514 19,314
Natural gas sales | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Natural gas liquid sales        
Revenues:        
Revenue 43,135 16,857 76,248 32,359
Natural gas liquid sales | Eliminations [Member]        
Revenues:        
Revenue 5,884 2,208 10,012 4,067
Natural gas liquid sales | Parent Company [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Natural gas liquid sales | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 37,251 14,649 66,236 28,292
Natural gas liquid sales | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Royalty [Member]        
Revenues:        
Revenue 0 0 0 0
Royalty [Member] | Eliminations [Member]        
Revenues:        
Revenue (74,420) (35,933) (136,813) (67,983)
Royalty [Member] | Parent Company [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Royalty [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Royalty [Member] | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 74,420 35,933 136,813 67,983
Midstream services        
Revenues:        
Revenue 7,983 1,417 19,378 2,547
Costs and expenses:        
Cost of Goods and Services Sold 17,601 1,828 28,790 2,682
Midstream services | Eliminations [Member]        
Revenues:        
Revenue 0 0 0 0
Costs and expenses:        
Cost of Goods and Services Sold 0 0 0 0
Midstream services | Parent Company [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Costs and expenses:        
Cost of Goods and Services Sold 0 0 0 0
Midstream services | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 7,983 1,417 19,378 2,547
Costs and expenses:        
Cost of Goods and Services Sold 17,601 1,828 28,790 2,682
Midstream services | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Revenues:        
Revenue 0 0 0 0
Costs and expenses:        
Cost of Goods and Services Sold 0 0 0 0
Gathering and Transportation [Member]        
Costs and expenses:        
Cost of Goods and Services Sold 6,813 3,015 11,098 5,634
Gathering and Transportation [Member] | Eliminations [Member]        
Costs and expenses:        
Cost of Goods and Services Sold 0 0 0 0
Gathering and Transportation [Member] | Parent Company [Member] | Reportable Legal Entities [Member]        
Costs and expenses:        
Cost of Goods and Services Sold 0 0 0 0
Gathering and Transportation [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Costs and expenses:        
Cost of Goods and Services Sold 6,670 2,871 10,690 5,347
Gathering and Transportation [Member] | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]        
Costs and expenses:        
Cost of Goods and Services Sold $ 143 $ 144 $ 408 $ 287