Diamondback and Chesapeake Report Strong Q4 Earnings; Diamondback Announces Endeavor Acquisition to Become 3rd Largest Permian Producer
• Diamondback Energy reported better-than-expected Q4 results; adjusted EPS of $4.74 beat expectations of $4.70 • Chesapeake Energy also topped Q4 earnings views, but its 2023 capex guidance disappointed • Diamondback announced it is acquiring Endeavor Energy; will become 3rd largest Permian producer • Chesapeake is merging with Southwestern Energy to create a large natural gas producer • Diamondback CEO touted 2023 as a "great year," highlighting production, dividends, buybacks and the Endeavor merger