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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Revenues $ 9,566,000,000 $ 6,747,000,000 $ 2,756,000,000
Other operating income 77,000,000 50,000,000 57,000,000
Total revenues 9,643,000,000 6,797,000,000 2,813,000,000
Costs and expenses:      
Lease operating expenses 652,000,000 565,000,000 425,000,000
Production and ad valorem taxes 611,000,000 425,000,000 195,000,000
Gathering and transportation 258,000,000 212,000,000 140,000,000
Depreciation, depletion, amortization and accretion 1,344,000,000 1,275,000,000 1,311,000,000
Impairment of oil and natural gas properties 0 0 6,021,000,000
General and administrative expenses 144,000,000 146,000,000 88,000,000
Merger and integration expenses 14,000,000 78,000,000 0
Other operating expenses 112,000,000 95,000,000 109,000,000
Total costs and expenses 3,135,000,000 2,796,000,000 8,289,000,000
Income (loss) from operations 6,508,000,000 4,001,000,000 (5,476,000,000)
Other income (expense):      
Interest expense, net (159,000,000) (199,000,000) (197,000,000)
Other income (expense), net (5,000,000) (10,000,000) (7,000,000)
Gain (loss) on derivative instruments, net: (586,000,000) (848,000,000) (81,000,000)
Gain (loss) on sale of equity method investments 0 23,000,000 0
Gain (loss) on extinguishment of debt (99,000,000) (75,000,000) (5,000,000)
Income (loss) from equity investments 77,000,000 15,000,000 (10,000,000)
Total other income (expense), net (772,000,000) (1,094,000,000) (300,000,000)
Income (loss) before income taxes 5,736,000,000 2,907,000,000 (5,776,000,000)
Provision for (benefit from) income taxes 1,174,000,000 631,000,000 (1,104,000,000)
Net income (loss) 4,562,000,000 2,276,000,000 (4,672,000,000)
Net income (loss) attributable to non-controlling interest 176,000,000 94,000,000 (155,000,000)
Net income (loss) attributable to Diamondback Energy, Inc. $ 4,386,000,000 $ 2,182,000,000 $ (4,517,000,000)
Earnings (loss) per common share:      
Basic (in dollars per share) $ 24.61 $ 12.24 $ (28.61)
Diluted (in dollars per share) $ 24.61 $ 12.24 $ (28.61)
Weighted average common shares outstanding:      
Basic (in shares) 176,539 176,643 157,976
Diluted (in shares) 176,539 176,643 157,976
Dividends declared per share (in dollars per share) $ 11.3100 $ 1.9500 $ 1.5250
Comprehensive income (loss):      
Net income (loss) attributable to Diamondback Energy, Inc. $ 4,386,000,000 $ 2,182,000,000 $ (4,517,000,000)
Other comprehensive income (loss), net of tax:      
Pension and postretirement benefit plans (7,000,000) 0 0
Comprehensive income (loss) attributable to Diamondback Energy, Inc 4,379,000,000 2,182,000,000 (4,517,000,000)
Oil sales      
Revenues:      
Revenues 7,660,000,000 5,396,000,000 2,410,000,000
Natural gas sales      
Revenues:      
Revenues 858,000,000 569,000,000 107,000,000
Natural gas liquid sales      
Revenues:      
Revenues $ 1,048,000,000 $ 782,000,000 $ 239,000,000