Diamondback Energy raised its 2026 production guidance after second-quarter results topped earnings expectations, while leaving its full-year capital budget unchanged. The company increased 2026 oil production guidance to 522+ thousand barrels per day from 520+ thousand barrels per day, and total production guidance to 1,000+ thousand barrels of oil equivalent per day from 972+ thousand barrels of oil equivalent per day. Full-year cash capital expenditures remain about $3.9 billion. Second-quarter production reached 1.018 million barrels of oil equivalent per day, including 525 thousand barrels of oil per day, with adjusted earnings of $6.48 per share beating the Zacks Consensus Estimate of $5.96. Revenues of $5.6 billion increased more than 51% year over year and beat the consensus mark by about 17%.
Diamondback Energy IncQ2 earnings beat and raised 2026 production guidance
ConocoPhillips
Occidental Petroleum Corporation