Diamondback Energy Reports Revenue Growth in 4th Quarter

Diamondback Energy Reports Strong Revenue Growth in Q4

Diamondback Energy reported strong revenue growth in the fourth quarter as a result of increased daily oil volume production. The Midland, Texas-based oil and natural gas company recorded a net profit of $960 million, or $5.34 per share, compared to $1.01 billion, or $5.62 per share, in the same period the previous year. After excluding one-time items, the company’s earnings per share stood at $4.74. Furthermore, the revenue soared by 9.8% to $2.23 billion.