Each one in plain English, with the numbers worked through for a shareholder.
8 Nov 2024substantial holder notice● Neutral
Wellington Management Group LLP and two affiliated holding entities filed an amended Schedule 13G reporting 2,921,781 Diamondback shares (0.99% of the class) as of September 30, 2024, and ticked the box showing they had ceased to own more than 5%.
Diamondback reported Q3 2024 average realized prices of $73.13 per barrel of oil, $(0.26) per Mcf of gas and $17.70 per barrel of NGLs. It also flagged a $4 million net cash settlement loss on derivatives and 204.73 million weighted average shares.
Diamondback revised its third-quarter 2024 guidance to include the Endeavor merger, completed September 10. It now expected oil production of 319-321 MBO/d and cash capex of $675-700 million.
The Stephens/Endeavor holder group filed an amended 13D after selling 13,212,830 Diamondback shares at $175.1075 each in the secondary offering. It now held 101,686,727 shares, or 34.5% of the class.
Former Endeavor Energy Resources shareholders who received Diamondback stock in the merger sold about 14.4 million of those shares to the public; Diamondback bought back 2 million of them for its own account.
Autry Stephens Management Trust, ACS Capital Management, LLC, ACS Capital Holdings, LP, Endeavor Manager, LLC, Stephens Family Trust, Stephens Family Trust #, SFT Management, LLC, SFT, Lyndal Stephens Greth disclosed a new substantial Diamondback Energy, Inc. shareholding (38.90% of votes).
Diamondback completed its Endeavor acquisition on September 10, 2024, paying about $7.1 billion in cash and about 117.3 million shares. It added Lance Robertson, Charles Meloy and Robert Reeves to the board, which grew to twelve directors.