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Shale producer Diamondback misses estimate for profit on lower crude prices
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Shale producer Diamondback misses estimate for profit on lower crude prices
Aug 4, 2025 1:27 PM

Aug 4 (Reuters) - Diamondback Energy ( FANG ) missed

analysts' estimate for second-quarter profit on Monday, as the

shale producer took a hit from a decline in crude prices.

Brent crude averaged 20% lower in the quarter from a

year earlier, pressured by U.S. tariffs and their impact on

global growth, OPEC+ supply gains and geopolitical tensions.

Prices briefly topped $80 per barrel after Israel targeted

Iran's nuclear sites in June, but slid to $67 by the end of the

period.

Diamondback said its average realized crude price, excluding

hedges, for the quarter stood at $63.23 per barrel, down from

$79.51 per barrel last year.

The Midland, Texas-based company posted an adjusted profit

of $2.67 per share for the three months ended June 30, compared

with analysts' average estimate of $2.82, according to data

compiled by LSEG.

(Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj

Kalluvila)

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