Diamondback Energy (FANG) Operating Expenses (2011 - 2026)
Diamondback Energy's (FANG) quarterly Operating Expenses came in at $4.1 billion in Q1 2026, up 73.64% YoY from $2.4 billion in Q1 2025, and down 33.03% on a QoQ basis from $6.2 billion in Q4 2025.
Diamondback Energy (FANG) Operating Expenses (2011 - 2026) Analysis & Trends
Diamondback Energy (FANG) has 16 years of Operating Expenses data on file, last reported at $4.1 billion in Q1 2026.
- Quarterly Operating Expenses rose 73.64% year-over-year to $4.1 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $15.5 billion (up 95.43% YoY) and the FY2025 annual result came in at $13.8 billion, up 106.3% from the prior year.
- Operating Expenses fell to $4.1 billion in Q1 2026, from $6.2 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $6.2 billion in Q4 2025 to a low of $748.0 million in Q1 2022.
- A 5-year average of $1.9 billion and a median of $1.1 billion in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses increased 8.82% — and 2025, when it jumped 167.86%.
- Tracing FANG's Operating Expenses over 5 years: stood at $774.0 million in 2022, then surged by 32.17% to $1.0 billion in 2023, then surged by 124.73% to $2.3 billion in 2024, then jumped by 167.86% to $6.2 billion in 2025, then slumped by 33.03% to $4.1 billion in 2026.
- The last three Operating Expenses figures came in at $4.1 billion (Q1 2026), $6.2 billion (Q4 2025), and $2.7 billion (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 163.55 Bn | 155.86 Bn | 12.81 Bn | 2.43 Bn |
| 2 | Canadian Natural Resources | 106.27 Bn | 104.37 Bn | 10.66 Bn | 114.95 Mn |
| 3 | Eog Resources | 80.09 Bn | 75.19 Bn | - | 5.09 Bn |
| 4 | Diamondback Energy | 59.30 Bn | 58.83 Bn | 5.55 Bn | 3.05 Bn |
| 5 | Devon Energy | 46.23 Bn | 45.22 Bn | 6.02 Bn | 5.03 Bn |
| 6 | Woodside Energy | 45.77 Bn | 39.83 Bn | 6.02 Bn | - |
| 7 | Occidental Petroleum | 39.39 Bn | 35.24 Bn | 7.73 Bn | 4.55 Bn |
| 8 | Eqt | 33.71 Bn | 33.60 Bn | 1.42 Bn | 1.42 Bn |
| 9 | Texas Pacific Land | 25.43 Bn | 25.18 Bn | - | 54.24 Mn |
| 10 | Expand Energy | 22.90 Bn | 21.63 Bn | 2.33 Bn | 2.30 Bn |
Historic Data
Download 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 |