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Consolidated Statements of Operations - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Lease bonus $ 4,000,000 $ 3,000,000 $ 12,000,000
Other operating income 9,000,000 9,000,000 0
Total revenues 3,964,000,000 2,176,000,000 1,205,000,000
Costs and expenses:      
Lease operating expenses 490,000,000 205,000,000 127,000,000
Production and ad valorem taxes 248,000,000 133,000,000 74,000,000
Depreciation, depletion and amortization 1,447,000,000 623,000,000 327,000,000
Impairment of oil and natural gas properties 790,000,000 0 0
General and administrative expenses 104,000,000 65,000,000 48,000,000
Asset retirement obligation accretion 7,000,000 2,000,000 1,000,000
Merger and integration expense 0 36,000,000 0
Other operating expense 4,000,000 3,000,000 0
Total costs and expenses 3,269,000,000 1,165,000,000 600,000,000
Income from operations 695,000,000 1,011,000,000 605,000,000
Other income (expense):      
Interest expense, net (172,000,000) (87,000,000) (41,000,000)
Other (expense) income, net (2,000,000) 89,000,000 11,000,000
(Loss) gain on derivative instruments, net (108,000,000) 101,000,000 (78,000,000)
Gain (loss) on revaluation of investment 5,000,000 (1,000,000) 0
Loss on extinguishment of debt (56,000,000) 0 0
Total other income (expense), net (333,000,000) 102,000,000 (108,000,000)
Income (loss) before income taxes 362,000,000 1,113,000,000 497,000,000
Provision for (benefit from) income taxes 47,000,000 168,000,000 (20,000,000)
Net income (loss) 315,000,000 945,000,000 517,000,000
Net income attributable to non-controlling interest 75,000,000 99,000,000 35,000,000
Net income (loss) attributable to Diamondback Energy, Inc. $ 240,000,000 $ 846,000,000 $ 482,000,000
Earnings per common share:      
Basic (in dollars per share) $ 1.47 $ 8.09 $ 4.95
Diluted (in dollars per share) $ 1.47 $ 8.06 $ 4.94
Weighted average common shares outstanding:      
Basic (in shares) 163,493 104,622 97,458
Diluted (in shares) 163,843 104,929 97,688
Dividends declared per share (in dollars per share) $ 0.9375 $ 0.5000 $ 0
Oil sales      
Revenues:      
Revenues $ 3,554,000,000 $ 1,879,000,000 $ 1,044,000,000
Natural gas sales      
Revenues:      
Revenues 66,000,000 61,000,000 52,000,000
Natural gas liquid sales      
Revenues:      
Revenues 267,000,000 190,000,000 90,000,000
Gathering and transportation      
Costs and expenses:      
Cost of goods and services sold 88,000,000 26,000,000 13,000,000
Midstream services      
Revenues:      
Revenues 64,000,000 34,000,000 7,000,000
Costs and expenses:      
Cost of goods and services sold $ 91,000,000 $ 72,000,000 $ 10,000,000