Diamondback Energy (FANG) Operating Expenses (2011 - 2026)
Diamondback Energy's Operating Expenses came in at $3.05 billion for Q2 2026, up 20.1% from $2.54 billion a year earlier but down 26.0% from the prior quarter.
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Analysis
Diamondback Energy (FANG) Operating Expenses (2011 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Diamondback Energy reported Operating Expenses of $16.02 billion, up 75.1% year-over-year; for FY2025, it came in at $13.76 billion, up 106.3% from FY2024.
- Operating Expenses has increased in each of the last four years, with a five-year compound annual growth rate of 10.7% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $6.67 billion in FY2024 (+73.6%), $3.84 billion in FY2023 (+22.6%), $3.14 billion in FY2022 (+12.1%) and $2.8 billion in FY2021 (-66.3%).
- The five-year range for quarterly Operating Expenses is $711 million (Q4 2021) to $6.16 billion (Q4 2025).
- Year-over-year, Operating Expenses has increased for 18 consecutive quarters, with growth averaging 90.5% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in Q4 2025 (growth of 167.9%), and the weakest in Q3 2021 (a decline of 62.2%).
- Business Quant data shows FANG's Operating Expenses at $4.12 billion (Q1 2026), $6.16 billion (Q4 2025) and $2.69 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 745.14 Bn | 701.62 Bn | - | 96.59 Bn |
| 2 | Chevron | 442.75 Bn | 414.87 Bn | 33.45 Bn | 53.37 Bn |
| 3 | Shell | 310.19 Bn | 239.94 Bn | 30.13 Bn | 8.70 Bn |
| 4 | TotalEnergies SE | 197.65 Bn | 78.24 Bn | 61.77 Bn | 46.44 Bn |
| 5 | Conocophillips | 176.25 Bn | 148.96 Bn | 12.81 Bn | 2.43 Bn |
| 6 | Equinor Asa | 119.64 Bn | 34.10 Bn | - | -22.18 Bn |
| 7 | Phillips 66 | 115.95 Bn | 103.74 Bn | 8.38 Bn | 47.07 Bn |
| 8 | Canadian Natural Resources | 113.35 Bn | 110.35 Bn | 8.84 Bn | 114.95 Mn |
| 9 | Suncor Energy | 95.50 Bn | 81.24 Bn | - | - |
| 10 | Diamondback Energy | 56.82 Bn | 55.92 Bn | - | 3.05 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.05 Bn |
| Mar 31, 2026 | 4.12 Bn |
| Dec 31, 2025 | 6.16 Bn |
| Sep 30, 2025 | 2.69 Bn |
| Jun 30, 2025 | 2.54 Bn |
| Mar 31, 2025 | 2.38 Bn |
| Dec 31, 2024 | 2.30 Bn |
| Sep 30, 2024 | 1.94 Bn |
| Jun 30, 2024 | 1.33 Bn |
| Mar 31, 2024 | 1.11 Bn |
| Dec 31, 2023 | 1.02 Bn |
| Sep 30, 2023 | 1.00 Bn |
| Jun 30, 2023 | 919.00 Mn |
| Mar 31, 2023 | 900.00 Mn |
| Dec 31, 2022 | 774.00 Mn |
| Sep 30, 2022 | 823.00 Mn |
| Jun 30, 2022 | 790.00 Mn |
| Mar 31, 2022 | 748.00 Mn |
| Dec 31, 2021 | 711.00 Mn |
| Sep 30, 2021 | 746.00 Mn |
API Access
Diamondback Energy Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=FANG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "FANG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=FANG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();