Diamondback Energy Inc (FANG)

[Wildbilly]

Viper Energy Partners LP: Preliminary Form S-1

Diamondback Energy - Q1 earnings fall short, Brean downgrades • 2:26 PM
Diamondback Energy reporting below consensus Q1 earnings - Brean Capital downgrades shares to Hold from Buy.

FANG reported strong well results in the Permian Basin, including its first operated test of the emerging Lower Spraberry shale formation and its best well to date in the Wolfcamp shale with a 30-day rate of 1,991 boe/day.

FANG also said it filed to raise up to $100M via an IPO of its mineral interests.

However, Brean Capital says in its downgrade that $76 is fair value for the shares; should its long-run assumptions for $85/bbl crude oil, $4.50/Mcf natural gas and $34/bbl of natural gas liquids prove conservative and prices instead average $100/$5/$42,

FANG shares could be worth up to $113, but price declines to $80/$3.50/$32 could result in shares at $66 (Briefing.com).

The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission becomes effective. This preliminary prospectus is not an offer to sell these securities and we are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

https://www.sec.gov/Archives/edgar/data/1602065/000119312514187469/d673207ds1.htm