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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Other operating income $ 43 $ 73 $ 77
Total revenues 11,066 8,412 9,643
Costs and expenses:      
Lease operating expenses 1,286 872 652
Production and ad valorem taxes 638 525 611
Depreciation, depletion, amortization and accretion 2,850 1,746 1,344
General and administrative expenses 213 150 144
Merger and integration expenses 303 11 14
Other operating expenses 103 140 112
Total costs and expenses 6,670 3,842 3,135
Income (loss) from operations 4,396 4,570 6,508
Other income (expense):      
Interest expense, net (135) (159) (154)
Other income (expense), net 80 52 (10)
Gain (loss) on derivative instruments, net 137 (259) (586)
Gain (loss) on extinguishment of debt 2 (4) (99)
Income (loss) from equity investments, net 21 48 77
Total other income (expense), net 105 (322) (772)
Income (loss) before income taxes 4,501 4,248 5,736
Provision for (benefit from) income taxes 800 912 1,174
Net income (loss) 3,701 3,336 4,562
Net income (loss) attributable to non-controlling interest 363 193 176
Net income (loss) attributable to Diamondback Energy, Inc. $ 3,338 $ 3,143 $ 4,386
Earnings (loss) per common share:      
Basic (in dollars per share) $ 15.53 $ 17.34 $ 24.61
Diluted (in dollars per share) $ 15.53 $ 17.34 $ 24.61
Weighted average common shares outstanding:      
Basic (in shares) 213,545 179,999 176,539
Diluted (in shares) 213,545 179,999 176,539
Comprehensive income (loss):      
Net income (loss) attributable to Diamondback Energy, Inc. $ 3,338 $ 3,143 $ 4,386
Other comprehensive income (loss), net of tax:      
Pension and postretirement benefit plans 2 (1) (7)
Comprehensive income (loss) attributable to Diamondback Energy, Inc 3,340 3,142 4,379
Oil sales      
Revenues:      
Revenues 9,067 7,279 7,660
Natural gas sales      
Revenues:      
Revenues 89 262 858
Natural gas liquid sales      
Revenues:      
Revenues 944 687 1,048
Sales of purchased oil      
Revenues:      
Revenues 923 111 0
Costs and expenses:      
Cost of goods and services sold 921 111 0
Gathering, processing and transportation      
Costs and expenses:      
Cost of goods and services sold $ 356 $ 287 $ 258