Diamondback Energy posts Q2 loss on $2.54 bln charge due to oil … – Reuters
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Aug 3 (Reuters) – Permian basin producer Diamondback Energy Inc on Monday posted a quarterly loss from a year-ago profit, as it took a $2.54 billion impairment charge against its oil and gas properties after crude prices plummeted.
Diamondback said net attributable loss to the company was $2.39 billion, or $15.17 per share, for the second quarter ended June 30, from a profit of $349 million, or $2.11 per share, last year.
The Midland, Texas-based company’s quarterly average production stood at 294,126 barrels of oil equivalent per day (boepd), compared with 280,365 boepd last year. (Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath)
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