Diamondback Still Undervalued Despite Expected Uptick in Operating Expenses
Diamondback's fourth-quarter and full-year financial results were fractionally ahead of consensus estimates, and while production of 93 mboe/d was a hair below our forecast, it was enough to keep annual volumes above the top end of the company's most recent guidance (77.5-78.5 mboe/d). Earlier guidance was even more conservative, making this the fourth straight year that the company has trounced its initial estimates (as we predicted in previous commentary). Expectations for 2018 look more reali...
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