Diamondback Energy misses profit estimates on weaker gas prices

📆 8/1/2023 1:35 AM
📰 Reuters

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U.S. shale oil producer Diamondback Energy missed Wall Street estimates for second-quarter profit on Monday, as gas prices took a hit after supply concerns eased.

missed Wall Street estimates for second-quarter profit on Monday, as gas prices took a hit after supply concerns eased.

Diamondback said its average unhedged realized prices for natural gas tumbled nearly 85% to 94 cents per million cubic feet, sending its shares down 1.7% after the bell.

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