Nov 3 (Reuters) - U.S. shale producer Diamondback Energy ( FANG )

surpassed Wall Street expectations for third-quarter

profit on Monday, as higher output helped offset weaker oil

prices.

The Midland, Texas-based company posted an adjusted profit

of $3.08 per share for the three months ended September 30,

compared with analysts' average expectations of $2.93 per share,

according to data compiled by LSEG.

(Reporting by Vallari Srivastava in Bengaluru; Editing by

Sriraj Kalluvila)