Diamondback Energy raises Q1 dividend 10%, boosts 2026 oil production guidance, reports $1.7B free cash flow.

Diamondback Energy announced strong Q1 2026 results with average oil production of 521,000 barrels per day and $1.7 billion in free cash flow. The company increased its base dividend by 10% to $1.10 per share and raised its full-year 2026 oil production guidance to over 520,000 barrels per day, signaling confidence in growth. It also repurchased $548 million in shares and plans continued buybacks. These moves reflect Diamondback's robust cash generation and commitment to returning capital to shareholders while expanding production.