Diamondback Energy (FANG) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 28, 2017
Document and Entity Information [Abstract]
Document type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	Diamondback Energy, Inc.
Entity Central Index Key	1,539,838
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		98,132,793

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 16,588	$ 1,666,574
Restricted cash	0	500
Accounts receivable:
Joint interest and other	71,677	49,476
Oil and natural gas sales	82,950	70,349
Related party	8	297
Inventories	4,925	1,983
Derivative instruments	41,732	0
Prepaid expenses and other	3,457	2,987
Total current assets	221,337	1,792,166
Property and equipment:
Oil and natural gas properties, full cost method of accounting ($4,008,388 and $1,730,519 excluded from amortization at June 30, 2017 and December 31, 2016, respectively)	8,311,094	5,160,261
Midstream assets	95,491	8,362
Other property, equipment and land	71,978	58,290
Accumulated depletion, depreciation, amortization and impairment	(1,969,816)	(1,836,056)
Net property and equipment	6,508,747	3,390,857
Funds held in escrow	0	121,391
Derivative instruments	4,379	709
Deferred income taxes	321	0
Other assets	49,025	44,557
Total assets	6,783,809	5,349,680
Current liabilities:
Accounts payable-trade	27,764	47,648
Accounts payable-related party	0	1
Accrued capital expenditures	153,765	60,350
Other accrued liabilities	89,589	55,330
Revenues and royalties payable	52,048	23,405
Derivative instruments	0	22,608
Total current liabilities	323,166	209,342
Long-term debt	1,151,515	1,105,912
Asset retirement obligations	19,539	16,134
Deferred income taxes	2,655	0
Total liabilities	1,496,875	1,331,388
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value, 200,000,000 shares authorized, 98,128,877 issued and outstanding at June 30, 2017; 90,143,934 issued and outstanding at December 31, 2016	981	901
Additional paid-in capital	5,041,359	4,215,955
Accumulated deficit	(224,716)	(519,394)
Total Diamondback Energy, Inc. stockholders’ equity	4,817,624	3,697,462
Non-controlling interest	469,310	320,830
Total equity	5,286,934	4,018,292
Total liabilities and equity	$ 6,783,809	$ 5,349,680

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Oil and natural gas properties, amortization excluded	$ 4,008,388	$ 1,730,519
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized	200,000,000	200,000,000
Shares Issued	98,128,877	90,143,934
Shares Outstanding	98,128,877	90,143,934

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Oil sales	$ 237,884	$ 101,325	$ 444,958	$ 180,345
Natural gas sales	12,693	4,109	22,615	8,131
Natural gas liquid sales	16,857	7,049	32,359	11,488
Lease bonus	583	0	2,185	0
Midstream services	1,417	0	2,547	0
Total revenues	269,434	112,483	504,664	199,964
Costs and expenses:
Lease operating expenses	28,989	18,677	55,615	36,900
Production and ad valorem taxes	15,879	8,159	31,604	16,121
Gathering and transportation	3,015	2,432	5,634	5,221
Midstream services	1,828	0	2,682	0
Depreciation, depletion and amortization	75,173	39,871	134,102	81,940
Impairment of oil and natural gas properties	0	168,352	0	199,168
General and administrative expenses (including non-cash equity-based compensation, net of capitalized amounts, of $6,168 and $6,029 for the three months ended June 30, 2017 and 2016, respectively, and $13,231 and $14,378 for the six months ended June 30, 2017 and 2016, respectively)	11,892	9,524	25,636	22,503
Asset retirement obligation accretion	350	254	673	500
Total costs and expenses	137,126	247,269	255,946	362,353
Income (loss) from operations	132,308	(134,786)	248,718	(162,389)
Other income (expense):
Interest expense	(8,245)	(10,019)	(20,470)	(20,032)
Other income	8,324	177	9,469	740
Gain (loss) on derivative instruments, net	33,320	(12,125)	71,021	(10,699)
Total other income (expense), net	33,399	(21,967)	60,020	(29,991)
Income (loss) before income taxes	165,707	(156,753)	308,738	(192,380)
Provision for income taxes	1,579	368	3,536	368
Net income (loss)	164,128	(157,121)	305,202	(192,748)
Net income (loss) attributable to non-controlling interest	5,723	(1,631)	10,524	(4,346)
Net income (loss) attributable to Diamondback Energy, Inc.	$ 158,405	$ (155,490)	$ 294,678	$ (188,402)
Earnings per common share:
Basic (in dollars per share)	$ 1.61	$ (2.17)	$ 3.08	$ (2.64)
Diluted (in dollars per share)	$ 1.61	$ (2.17)	$ 3.07	$ (2.64)
Weighted average common shares outstanding:
Basic (in shares)	98,142	71,719	95,665	71,372
Diluted (in shares)	98,354	71,719	95,925	71,372

Consolidated Statements of Ope5

Consolidated Statements of Operations Consolidated Statements of Operations (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
General and Administrative Expense [Member]
Non-cash stock based compensation, net of capitalized amount	$ 6,168	$ 6,029	$ 13,231	$ 14,378

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
Balance at beginning of period at Dec. 31, 2015	$ 2,108,973	$ 668	$ 2,229,664	$ (354,360)	$ 233,001
Balance at beginning of period, shares at Dec. 31, 2015		66,797,047
Increase (Decrease) in Stockholders' Equity
Unit-based compensation	1,930	$ 0	0	0	1,930
Stock-based compensation	17,057	0	17,057	0	0
Distribution to non-controlling interest	(3,497)	0	0	0	(3,497)
Common shares issued in public offering, net of offering costs	254,339	$ 46	254,293	0	0
Common shares issued in public offering, net of offering costs, shares		4,600,000
Exercise of stock options and vesting of restricted stock units	498	$ 3	495	0	0
Exercise of stock options and awards of restricted stock, shares		308,875
Net income (loss)	(192,748)	$ 0	0	(188,402)	(4,346)
Balance at end of period at Jun. 30, 2016	2,186,552	$ 717	2,501,509	(542,762)	227,088
Balance at end of period, shares at Jun. 30, 2016		71,705,922
Balance at beginning of period at Dec. 31, 2016	$ 4,018,292	$ 901	4,215,955	(519,394)	320,830
Balance at beginning of period, shares at Dec. 31, 2016	90,143,934	90,143,934
Increase (Decrease) in Stockholders' Equity
Net proceeds from issuance of common units - Viper Energy Partners LP	$ 147,492	$ 0	0	0	147,492
Unit-based compensation	1,537	0	0	0	1,537
Common units issued for acquisition	3,050	0	0	0	3,050
Stock-based compensation	15,939	0	15,939	0	0
Distribution to non-controlling interest	(14,123)	0	0	0	(14,123)
Common shares issued in public offering, net of offering costs	14	0	14	0	0
Common shares issued for acquisition, shares	809,173	$ 77	809,096	0	0
Common shares issued for acquisition		7,685,918
Exercise of stock options and vesting of restricted stock units	358	$ 3	355	0	0
Exercise of stock options and awards of restricted stock, shares		299,025
Net income (loss)	305,202	$ 0	0	294,678	10,524
Balance at end of period at Jun. 30, 2017	$ 5,286,934	$ 981	$ 5,041,359	$ (224,716)	$ 469,310
Balance at end of period, shares at Jun. 30, 2017	98,128,877	98,128,877

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income (loss)	$ 305,202	$ (192,748)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Provision for deferred income taxes	2,334	0
Impairment of oil and natural gas properties	0	199,168
Asset retirement obligation accretion	673	500
Depreciation, depletion, and amortization	134,102	81,940
Amortization of debt issuance costs	1,811	1,340
Change in fair value of derivative instruments	(68,010)	15,283
Income from equity investment	(156)	(18)
Equity-based compensation expense	13,231	14,378
Gain on sale of assets, net	(67)	(28)
Changes in operating assets and liabilities:
Accounts receivable	(36,137)	2,434
Accounts receivable-related party	289	(15)
Restricted cash	500	0
Inventories	(3,059)	234
Prepaid expenses and other	(4,966)	574
Accounts payable and accrued liabilities	26,782	2,609
Accounts payable and accrued liabilities-related party	(2)	464
Accrued interest	(7,756)	(9)
Income tax payable	1,017	0
Revenues and royalties payable	28,643	(4,325)
Net cash provided by operating activities	394,431	121,781
Cash flows from investing activities:
Additions to oil and natural gas properties	(291,767)	(149,192)
Additions to oil and natural gas properties-related party	0	(469)
Additions to midstream assets	(4,444)	0
Purchase of other property and equipment	(13,825)	(1,224)
Acquisition of leasehold interests	(1,860,980)	(17,533)
Acquisition of mineral interests	(122,679)	(11,319)
Acquisition of midstream assets	50,279	0
Proceeds from sale of assets	1,295	161
Funds held in escrow	(121,391)	0
Equity investments	(188)	(800)
Net cash used in investing activities	(2,221,476)	(180,376)
Cash flows from financing activities:
Proceeds from borrowings under credit facility	266,000	17,000
Repayment under credit facility	(221,000)	(11,000)
Debt issuance costs	(1,605)	(66)
Public offering costs	(296)	(179)
Proceeds from public offerings	147,725	254,518
Proceeds from exercise of stock options	358	498
Distributions to non-controlling interest	(14,123)	(3,497)
Net cash provided by financing activities	177,059	257,274
Net increase (decrease) in cash and cash equivalents	(1,649,986)	198,679
Cash and cash equivalents at beginning of period	1,666,574	20,115
Cash and cash equivalents at end of period	16,588	218,794
Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest	26,500	18,823
Supplemental disclosure of non-cash transactions:
Change in accrued capital expenditures	93,415	(13,769)
Capitalized stock-based compensation	$ 4,244	$ 4,609
Common stock issued for oil and natural gas properties	809,173	0
Asset retirement obligations acquired	$ 2,180	$ 803

Description of the Business and

Description of the Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Basis of Presentation	DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION Organization and Description of the Business Diamondback Energy, Inc. (“Diamondback” or the “Company”), together with its subsidiaries, is an independent oil and gas company currently focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. Diamondback was incorporated in Delaware on December 30, 2011. The wholly-owned subsidiaries of Diamondback, as of June 30, 2017 , include Diamondback E&P LLC, a Delaware limited liability company, Diamondback O&G LLC, a Delaware limited liability company, Viper Energy Partners GP LLC, a Delaware limited liability company, and Rattler Midstream LLC (formerly known as White Fang Energy LLC), a Delaware limited liability company. The consolidated subsidiaries include these wholly-owned subsidiaries as well as Viper Energy Partners LP, a Delaware limited partnership (the “Partnership”), and the Partnership’s wholly-owned subsidiary Viper Energy Partners LLC, a Delaware limited liability company. Basis of Presentation The consolidated financial statements include the accounts of the Company and its subsidiaries after all significant intercompany balances and transactions have been eliminated upon consolidation. The Partnership is consolidated in the financial statements of the Company. As of June 30, 2017 , the Company owned approximately 74% of the common units of the Partnership and the Company’s wholly-owned subsidiary, Viper Energy Partners GP LLC, is the General Partner of the Partnership. These financial statements have been prepared by the Company without audit, pursuant to the rules and regulations of the SEC. They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for interim periods, on a basis consistent with the annual audited financial statements. All such adjustments are of a normal recurring nature. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations, although the Company believes the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10–Q should be read in conjunction with the Company’s most recent Annual Report on Form 10–K for the fiscal year ended December 31, 2016 , which contains a summary of the Company’s significant accounting policies and other disclosures.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates Certain amounts included in or affecting the Company’s consolidated financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the consolidated financial statements are prepared. These estimates and assumptions affect the amounts the Company reports for assets and liabilities and the Company’s disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates. The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Company’s estimates. Any effects on the Company’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, asset retirement obligations, the fair value determination of acquired assets and liabilities, equity-based compensation, fair value estimates of commodity derivatives and estimates of income taxes. New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers”. This update supersedes most of the existing revenue recognition requirements in GAAP and requires (i) an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services and (ii) requires expanded disclosures regarding the nature, amount, timing and certainty of revenue and cash flows from contracts with customers. The standard will be effective for annual and interim reporting periods beginning after December 15, 2017, with early application permitted for annual reporting period beginning after December 31, 2016. The standard allows for either full retrospective adoption, meaning the standard is applied to all periods presented in the financial statements, or modified retrospective adoption, meaning the standard is applied only to the most current period presented. The Company is currently evaluating the impact of this standard; however, it does not believe this standard will have a material impact on the Company’s consolidated financial statements. In July 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-11, “Inventory”. This update applies to all inventory that is not measured using last-in, first-out or the retail inventory method. Under this update, an entity should measure inventory at the lower of cost and net realizable value. This standard was effective for financial statements issued for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. This standard should be applied prospectively with early adoption permitted as of the beginning of an interim or annual reporting period. The Company adopted this standard prospectively effective January 1, 2017. The adoption of this standard had no impact on the Company’s financial position, results of operations or liquidity because the Company currently measures its inventory at the lower of cost or net realizable value. In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-17, “Income Taxes”. This update requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The standard was effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. This standard may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company adopted this standard prospectively effective January 1, 2017. The Company will present deferred tax liabilities and assets as noncurrent. In January 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-01, “Financial Instruments–Overall”. This update applies to any entity that holds financial assets or owes financial liabilities. This update requires equity investments (except for those accounted for under the equity method or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. This update will be effective for public entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. Entities should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. While this update will not have a direct impact on the Company, the Partnership will be required to mark its cost method investment to fair value with the adoption of this update. In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-02, “Leases”. This update applies to any entity that enters into a lease, with some specified scope exemptions. Under this update, a lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. While there were no major changes to the lessor accounting, changes were made to align key aspects with the revenue recognition guidance. This update will be effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. Entities will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company believes the primary impact of adopting this standard will be the recognition of assets and liabilities on the balance sheet for current operating leases. The Company is still evaluating the impact of this standard. In March 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-08, “Revenue from Contracts with Customers - Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”. Under this update, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update will be effective for annual and interim reporting periods beginning after December 15, 2017, with early application not permitted. This update allows for either full retrospective adoption, meaning this update is applied to all periods presented in the financial statements, or modified retrospective adoption, meaning this update is applied only to the most current period presented. The Company is in its initial evaluation of the impact of this standard. However, it does not expect that there will be a significant change in the manner of the Company’s revenue recognition. The Company expects that certain additional disclosures will be required upon adoption of this standard. The Company is still determining which adoption method it will use. In March 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-09, "Compensation - Stock Compensation". This update applies to all entities that issue equity-based payment awards to their employees. Under this update, there were several areas that were simplified including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This update was effective for financial statements issued for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company prospectively adopted this standard effective January 1, 2017. The Company revised its calculation of diluted earnings per share to exclude the amount of excess tax benefits that would be recognized in additional paid-in capital. The Company also adopted a policy to account for forfeitures as they occur. In April 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-10, “Revenue from Contracts with Customers - Identifying Performance Obligations and Licensing”. This update clarifies two principles of Accounting Standards Codification Topic 606: identifying performance obligations and the licensing implementation guidance. This standard has the same effective date as Accounting Standards Update 2016-08, the revenue recognition standard discussed above. The adoption of this standard is not expected to have a material impact on the Company's financial position, results of operations and liquidity. In May 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-12, “Revenue from Contracts with Customers - Narrow-Scope Improvements and Practical Expedients”. This update applies only to the following areas from Accounting Standards Codification Topic 606: assessing the collectability criterion and accounting for contracts that do not meet the criteria for step 1, presentation of sales taxes and other similar taxes collected from customers, non-cash consideration, contract modification at transition, completed contracts at transition and technical correction. This standard has the same effective date as Accounting Standards Update 2016-08, the revenue recognition standard discussed above. The adoption of this standard is not expected to have a material impact on the Company's financial position, results of operations and liquidity. In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-13, “Financial Instruments - Credit Losses”. This update affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. This update will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company does not believe the adoption of this standard will have a material impact on the Company’s consolidated financial statements since the Company does not have a history of credit losses. In August 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-15, “Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments”. This update apples to all entities that are required to present a statement of cash flows. This update provides guidance on eight specific cash flow issues: debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions and separately identifiable cash flows and application of the predominance principle. This update will be effective for financial statements issued for fiscal years beginning after December 31, 2017, including interim periods within those fiscal years with early adoption permitted. This update should be applied using the retrospective transition method. Adoption of this standard will only affect the presentation of the Company’s cash flows and will not have a material impact on the Company’s consolidated financial statements. In November 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-18, “Statement of Cash Flows - Restricted Cash”. This update affects entities that have restricted cash or restricted cash equivalents. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. This update will be applied retrospectively. The Company does not expect the adoption of this standard to have a material impact on the Company’s consolidated financial statements. In January 2017, the Financial Accounting Standards Board issued Accounting Standards Update 2017-01, “Business Combinations - Clarifying the Definition of a Business”. This update apples to all entities that must determine whether they acquired or sold a business. This update provides a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This update will be effective for financial statements issued for fiscal years beginning after December 31, 2017, including interim periods within those fiscal years. This update should be applied prospectively on or after the effective date. This update is not expected to have a material impact on the Company’s financial statements or results of operations. The adoption of this update will change the process that the Company uses to evaluate whether the Company has acquired a business or an asset. This update will be applied prospectively and will not have an effect on prior acquisitions.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	ACQUISITIONS On February 28, 2017, the Company completed its acquisition of certain oil and natural gas properties, midstream assets and other related assets in the Delaware Basin for an aggregate purchase price consisting of $1.74 billion in cash and 7.69 million shares of the Company’s common stock, of which approximately 1.15 million shares were placed in an indemnity escrow. This transaction includes the acquisition of (i) approximately 100,306 gross ( 80,339 net) acres primarily in Pecos and Reeves counties for approximately $2.5 billion and (ii) midstream assets for approximately $47.6 million . The Company used the net proceeds from its December 2016 equity offering, net proceeds from its December 2016 debt offering, cash on hand and other financing sources to fund the cash portion of the purchase price for this acquisition. The Company is in the process of identifying and determining the fair values of the assets and liabilities assumed, and as a result, the estimates for fair value at June 30, 2017 are subject to change. The following represents the preliminary estimated fair value of the assets and liabilities assumed on the acquisition date. The aggregate consideration transferred was $2.6 billion , subject to post-closing adjustments, resulting in no goodwill or bargain purchase gain. (in thousands) Proved oil and natural gas properties $ 387,571 Unevaluated oil and natural gas properties 2,122,415 Midstream assets 47,554 Prepaid capital costs 3,460 Oil inventory 839 Revenues payable (8,723 ) Asset retirement obligations (1,550 ) Total fair value of net assets $ 2,551,566 The Company has included in its consolidated statements of operations revenues of $48.0 million and direct operating expenses of $6.9 million for the period from February 28, 2017 to June 30, 2017 due to the acquisition. Pro Forma Financial Information The following unaudited summary pro forma consolidated statement of operations data of Diamondback for the three and six months June 30, 2017 and 2016 have been prepared to give effect to the February 28, 2017 acquisition as if it had occurred on January 1, 2016. The pro forma data are not necessarily indicative of financial results that would have been attained had the acquisitions occurred on January 1, 2016. The pro forma data also necessarily exclude various operation expenses related to the properties and the financial statements should not be viewed as indicative of operations in future periods. Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands, except per share amounts) Revenues $ 269,434 $ 135,752 $ 527,593 $ 238,416 Income (loss) from operations 132,308 (119,254 ) 263,060 (143,257 ) Net income (loss) 164,128 (139,958 ) 310,414 (169,270 ) Basic earnings per common share 1.61 (1.95 ) 3.24 (2.37 ) Diluted earnings per common share 1.61 (1.95 ) 3.24 (2.37 )

Viper Energy Partners LP

Viper Energy Partners LP	6 Months Ended
	Jun. 30, 2017
Noncontrolling Interest [Abstract]
Viper Energy Partners LP	VIPER ENERGY PARTNERS LP The Partnership is a publicly traded Delaware limited partnership, the common units of which are listed on the NASDAQ Global Market under the symbol “VNOM”. The Partnership was formed by Diamondback on February 27, 2014, to, among other things, own, acquire and exploit oil and natural gas properties in North America. The Partnership is currently focused on oil and natural gas properties in the Permian Basin. Viper Energy Partners GP LLC, a fully-consolidated subsidiary of Diamondback, serves as the general partner of, and holds a non-economic general partner interest in, the Partnership. As of June 30, 2017 , the Company owned approximately 74% of the common units of the Partnership. See Note 16–Subsequent Events for information regarding the Company’s current ownership interest in the Partnership. Partnership Agreement In connection with the closing of the Viper Offering, the General Partner and Diamondback entered into the first amended and restated agreement of limited partnership, dated June 23, 2014 (the “Partnership Agreement”). The Partnership Agreement requires the Partnership to reimburse the General Partner for all direct and indirect expenses incurred or paid on the Partnership’s behalf and all other expenses allocable to the Partnership or otherwise incurred by the General Partner in connection with operating the Partnership’s business. The Partnership Agreement does not set a limit on the amount of expenses for which the General Partner and its affiliates may be reimbursed. These expenses include salary, bonus, incentive compensation and other amounts paid to persons who perform services for the Partnership or on its behalf and expenses allocated to the General Partner by its affiliates. The General Partner is entitled to determine the expenses that are allocable to the Partnership. Tax Sharing In connection with the closing of the Viper Offering, the Partnership entered into a tax sharing agreement with Diamondback, dated June 23, 2014, pursuant to which the Partnership agreed to reimburse Diamondback for its share of state and local income and other taxes for which the Partnership’s results are included in a combined or consolidated tax return filed by Diamondback with respect to taxable periods including or beginning on June 23, 2014. The amount of any such reimbursement is limited to the tax the Partnership would have paid had it not been included in a combined group with Diamondback. Diamondback may use its tax attributes to cause its combined or consolidated group, of which the Partnership may be a member for this purpose, to owe less or no tax. In such a situation, the Partnership agreed to reimburse Diamondback for the tax the Partnership would have owed had the tax attributes not been available or used for the Partnership’s benefit, even though Diamondback had no cash tax expense for that period. Other Agreements See Note 11 —Related Party Transactions for information regarding the advisory services agreement the Partnership and the General Partner entered into with Wexford Capital LP (“Wexford”). The Partnership has entered into a secured revolving credit facility with Wells Fargo, as administrative agent sole book runner and lead arranger. See Note 8 —Debt for a description of this credit facility.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERTY AND EQUIPMENT Property and equipment includes the following: June 30, December 31, 2017 2016 (in thousands) Oil and natural gas properties: Subject to depletion $ 4,302,706 $ 3,429,742 Not subject to depletion 4,008,388 1,730,519 Gross oil and natural gas properties 8,311,094 5,160,261 Accumulated depletion (819,970 ) (687,685 ) Accumulated impairment (1,143,498 ) (1,143,498 ) Oil and natural gas properties, net 6,347,626 3,329,078 Midstream assets 95,491 8,362 Other property, equipment and land 71,978 58,290 Accumulated depreciation (6,348 ) (4,873 ) Property and equipment, net of accumulated depreciation, depletion, amortization and impairment $ 6,508,747 $ 3,390,857 Balance of acquisition costs not subject to depletion Incurred in 2017 $ 2,359,070 Incurred in 2016 $ 784,212 Incurred in 2015 $ 343,744 Incurred in 2014 $ 429,866 Incurred in 2013 $ 37,439 Incurred in 2012 $ 54,057 The Company uses the full cost method of accounting for its oil and natural gas properties. Under this method, all acquisition, exploration and development costs, including certain internal costs, are capitalized and amortized on a composite unit of production method based on proved oil, natural gas liquids and natural gas reserves. Internal costs capitalized to the full cost pool represent management’s estimate of costs incurred directly related to exploration and development activities such as geological and other administrative costs associated with overseeing the exploration and development activities. Costs, including related employee costs, associated with production and operation of the properties are charged to expense as incurred. All other internal costs not directly associated with exploration and development activities are charged to expense as they are incurred. Capitalized internal costs were approximately $5.1 million and $4.1 million for the three months ended June 30, 2017 and 2016 , respectively, and $10.2 million and $9.1 million for the six months ended June 30, 2017 and 2016 , respectively. Costs associated with unevaluated properties are excluded from the full cost pool until the Company has made a determination as to the existence of proved reserves. The inclusion of the Company’s unevaluated costs into the amortization base is expected to be completed within three to five years. Acquisition costs not currently being amortized are primarily related to unproved acreage that the Company plans to prove up through drilling. The Company has no plans to let any acreage expire. Sales of oil and natural gas properties, whether or not being amortized currently, are accounted for as adjustments of capitalized costs, with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil, natural gas liquids and natural gas. Under this method of accounting, the Company is required to perform a ceiling test each quarter. The test determines a limit, or ceiling, on the book value of the proved oil and natural gas properties. Net capitalized costs are limited to the lower of unamortized cost net of deferred income taxes, or the cost center ceiling. The cost center ceiling is defined as the sum of (a) estimated future net revenues, discounted at 10% per annum, from proved reserves, based on the trailing 12-month unweighted average of the first-day-of-the-month price, adjusted for any contract provisions or financial derivatives, if any, that hedge the Company’s oil and natural gas revenue, and excluding the estimated abandonment costs for properties with asset retirement obligations recorded on the balance sheet, (b) the cost of properties not being amortized, if any, and (c) the lower of cost or market value of unproved properties included in the cost being amortized, including related deferred taxes for differences between the book and tax basis of the oil and natural gas properties. If the net book value, including related deferred taxes, exceeds the ceiling, an impairment or non-cash writedown is required. As a result of the decline in prices, the Company recorded a non-cash impairment for the six months ended June 30, 2016 of $199.2 million , which is included in accumulated depletion, depreciation, amortization and impairment. The Company did no t record an impairment for the six months ended June 30, 2017 . The 2016 impairment charge affected the Company’s reported net income but did not reduce its cash flow. In addition to commodity prices, the Company’s production rates, levels of proved reserves, future development costs, transfers of unevaluated properties and other factors will determine its actual ceiling test calculation and impairment analysis in future periods. At June 30, 2017 , there was $6.8 million in exploration costs and development costs and $8.7 million in capitalized interest that are not subject to depletion. At December 31, 2016 , there were no exploration costs, development costs or capitalized interest that are not subject to depletion.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2017
Asset Retirement Obligation [Abstract]
Asset Retirement Obligations	ASSET RETIREMENT OBLIGATIONS The following table describes the changes to the Company’s asset retirement obligation liability for the following periods: Six Months Ended June 30, 2017 2016 (in thousands) Asset retirement obligations, beginning of period $ 17,422 $ 12,711 Additional liabilities incurred 990 250 Liabilities acquired 2,180 803 Liabilities settled (149 ) (369 ) Accretion expense 673 500 Revisions in estimated liabilities (2 ) 88 Asset retirement obligations, end of period 21,114 13,983 Less current portion 1,575 196 Asset retirement obligations - long-term $ 19,539 $ 13,787 The Company’s asset retirement obligations primarily relate to the future plugging and abandonment of wells and related facilities. The Company estimates the future plugging and abandonment costs of wells, the ultimate productive life of the properties, a risk-adjusted discount rate and an inflation factor in order to determine the current present value of this obligation. To the extent future revisions to these assumptions impact the present value of the existing asset retirement obligation liability, a corresponding adjustment is made to the oil and natural gas property balance. The current portion of the asset retirement obligation liability is included in other accrued liabilities in the Company’s consolidated balance sheets.

Equity Method Investments

Equity Method Investments	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	EQUITY METHOD INVESTMENTS In October 2014, the Company paid $0.6 million for a 25% interest in HMW Fluid Management LLC, which was formed to develop, own and operate an integrated water management system to gather, store, process, treat, distribute and dispose of water to exploration and production companies operating in Midland, Martin and Andrews Counties, Texas. The board of this entity may also authorize the entity to offer these services to other counties in the Permian Basin and to pursue other business opportunities. During the six months ended June 30, 2017 and 2016 , the Company invested $0.2 million and $0.8 million , respectively, in this entity bringing its total investment to $6.7 million and $4.1 million at June 30, 2017 and 2016 , respectively. The Company will retain a minority interest after all commitments are received. The entity was formed as a limited liability company and maintains a specific ownership account for each investor, similar to a partnership capital account structure. Therefore, the Company accounts for this investment under the equity method of accounting.

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	DEBT Long-term debt consisted of the following as of the dates indicated: June 30, December 31, 2017 2016 (in thousands) 4.750 % Senior Notes due 2024 $ 500,000 $ 500,000 5.375 % Senior Notes due 2025 500,000 500,000 Unamortized debt issuance costs (13,985 ) (14,588 ) Revolving credit facility 84,000 — Partnership revolving credit facility 81,500 120,500 Total long-term debt $ 1,151,515 $ 1,105,912 2024 Senior Notes On October 28, 2016, the Company issued $500.0 million in aggregate principal amount of 4.750% Senior Notes due 2024 (the “2024 Senior Notes”). The 2024 Senior Notes bear interest at a rate of 4.750% per annum, payable semi-annually, in arrears on May 1 and November 1 of each year, commencing on May 1, 2017 and will mature on November 1, 2024. All of the Company’s existing and future restricted subsidiaries that guarantee its revolving credit facility or certain other debt guarantee the 2024 Senior Notes; provided, however, that the 2024 Senior Notes are not guaranteed by the Partnership, the General Partner, Viper Energy Partners LLC or Rattler Midstream LLC, and will not be guaranteed by any of the Company’s future unrestricted subsidiaries. The 2024 Senior Notes were issued under, and are governed by, an indenture among the Company, the subsidiary guarantors party thereto and Wells Fargo, as the trustee, as supplemented (the “2024 Indenture”). The 2024 Indenture contains certain covenants that, subject to certain exceptions and qualifications, among other things, limit the Company’s ability and the ability of the restricted subsidiaries to incur or guarantee additional indebtedness, make certain investments, declare or pay dividends or make other distributions on capital stock, prepay subordinated indebtedness, sell assets including capital stock of restricted subsidiaries, agree to payment restrictions affecting the Company’s restricted subsidiaries, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets, enter into transactions with affiliates, incur liens, engage in business other than the oil and natural gas business and designate certain of the Company’s subsidiaries as unrestricted subsidiaries. The Company may on any one or more occasions redeem some or all of the 2024 Senior Notes at any time on or after November 1, 2019 at the redemption prices (expressed as percentages of principal amount) of 103.563% for the 12-month period beginning on November 1, 2019, 102.375% for the 12-month period beginning on November 1, 2020, 101.188% for the 12-month period beginning on November 1, 2021 and 100.000% beginning on November 1, 2022 and at any time thereafter with any accrued and unpaid interest to, but not including, the date of redemption. Prior to November 1, 2019, the Company may on any one or more occasions redeem all or a portion of the 2024 Senior Notes at a price equal to 100% of the principal amount of the 2024 Senior Notes plus a “make-whole” premium and accrued and unpaid interest to the redemption date. In addition, any time prior to November 1, 2019, the Company may on any one or more occasions redeem the 2024 Senior Notes in an aggregate principal amount not to exceed 35% of the aggregate principal amount of the 2024 Senior Notes issued prior to such date at a redemption price of 104.750% , plus accrued and unpaid interest to the redemption date, with an amount equal to the net cash proceeds from certain equity offerings. In connection with the issuance of the 2024 Senior Notes, the Company and the subsidiary guarantors entered into a registration rights agreement (the “2024 Registration Rights Agreement”) with the initial purchasers on October 28, 2016, pursuant to which the Company agreed to file a registration statement with respect to an offer to exchange the 2024 Senior Notes for a new issue of substantially identical debt securities registered under the Securities Act. Under the 2024 Registration Rights Agreement, the Company also agreed to use its commercially reasonable efforts to have the registration statement declared effective by the SEC on or prior to the 360th day after the issue date of the 2024 Senior Notes and to keep the exchange offer open for not less than 30 days (or longer if required by applicable law). The Company may be required to file a shelf registration statement to cover resales of the 2024 Senior Notes under certain circumstances. If the Company fails to satisfy these obligations under the 2024 Registration Rights Agreement, it agreed to pay additional interest to the holders of the 2024 Senior Notes as specified in the 2024 Registration Rights Agreement. 2025 Senior Notes On December 20, 2016, the Company issued $500.0 million in aggregate principal amount of 5.375% Senior Notes due 2025 (the “2025 Senior Notes”). The 2025 Senior Notes bear interest at a rate of 5.375% per annum, payable semi-annually, in arrears on May 31 and November 30 of each year, commencing on May 31, 2017 and will mature on May 31, 2025. All of the Company’s existing and future restricted subsidiaries that guarantee its revolving credit facility or certain other debt guarantee the 2025 Senior Notes, provided, however, that the 2025 Senior Notes are not guaranteed by the Partnership, the General Partner, Viper Energy Partners LLC or Rattler Midstream LLC, and will not be guaranteed by any of the Company’s future unrestricted subsidiaries. The 2025 Senior Notes were issued under an indenture, dated as of December 20, 2016, among the Company, the guarantors party thereto and Wells Fargo Bank, as the trustee (the “2025 Indenture”). The 2025 Indenture contains certain covenants that, subject to certain exceptions and qualifications, among other things, limit the Company’s ability and the ability of the restricted subsidiaries to incur or guarantee additional indebtedness, make certain investments, declare or pay dividends or make other distributions on capital stock, prepay subordinated indebtedness, sell assets including capital stock of restricted subsidiaries, agree to payment restrictions affecting the Company’s restricted subsidiaries, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets, enter into transactions with affiliates, incur liens, engage in business other than the oil and natural gas business and designate certain of the Company’s subsidiaries as unrestricted subsidiaries. The Company may on any one or more occasions redeem some or all of the 2025 Senior Notes at any time on or after May 31, 2020 at the redemption prices (expressed as percentages of principal amount) of 104.031% for the 12-month period beginning on May 31, 2020, 102.688% for the 12-month period beginning on May 31, 2021, 101.344% for the 12-month period beginning on May 31, 2022 and 100.000% beginning on May 31, 2023 and at any time thereafter with any accrued and unpaid interest to, but not including, the date of redemption. Prior to May 31, 2020, the Company may on any one or more occasions redeem all or a portion of the 2025 Senior Notes at a price equal to 100% of the principal amount of the 2025 Senior Notes plus a “make-whole” premium and accrued and unpaid interest to the redemption date. In addition, any time prior to May 31, 2020, the Company may on any one or more occasions redeem the 2025 Senior Notes in an aggregate principal amount not to exceed 35% of the aggregate principal amount of the 2025 Senior Notes issued prior to such date at a redemption price of 105.375% , plus accrued and unpaid interest to the redemption date, with an amount equal to the net cash proceeds from certain equity offerings. In connection with the issuance of the 2025 Senior Notes, the Company and the subsidiary guarantors entered into a registration rights agreement (the “2025 Registration Rights Agreement”) with the initial purchasers on December 20, 2016, pursuant to which the Company agreed to file a registration statement with respect to an offer to exchange the 2025 Senior Notes for a new issue of substantially identical debt securities registered under the Securities Act. Under the 2025 Registration Rights Agreement, the Company also agreed to use its commercially reasonable efforts to have the registration statement declared effective by the SEC on or prior to the 360th day after the issue date of the 2025 Senior Notes and to keep the exchange offer open for not less than 30 days (or longer if required by applicable law). The Company may be required to file a shelf registration statement to cover resales of the 2025 Senior Notes under certain circumstances. If the Company fails to satisfy these obligations under the 2025 Registration Rights Agreement, it agreed to pay additional interest to the holders of the 2025 Senior Notes as specified in the 2025 Registration Rights Agreement. On April 26, 2017, the Company filed with the SEC its Registration Statement on Form S-4 relating to the exchange offers of the 2024 Senior Notes and the 2025 Senior Notes for substantially identical debt securities registered under the Securities Act. The Company’s Credit Facility On June 9, 2014, Diamondback O&G LLC, as borrower, entered into a first amendment and on November 13, 2014, Diamondback O&G LLC entered into a second amendment to the second amended and restated credit agreement, dated November 1, 2013 (the “credit agreement”). The first amendment modified certain provisions of the credit agreement to, among other things, allow one or more of the Company’s subsidiaries to be designated as “Unrestricted Subsidiaries” that are not subject to certain restrictions contained in the credit agreement. In connection with the Viper Offering, the Partnership, the General Partner and Viper Energy Partners LLC were designated as unrestricted subsidiaries under the credit agreement. As of June 30, 2017 , the credit agreement was guaranteed by Diamondback, Diamondback E&P LLC and Rattler Midstream LLC and will also be guaranteed by any future restricted subsidiaries of Diamondback. The credit agreement is also secured by substantially all of the assets of Diamondback O&G LLC, the Company and the other guarantors. The second amendment increased the maximum amount of the credit facility to $2.0 billion , modified the dates and deadlines of the credit agreement relating to the scheduled borrowing base redeterminations based on the Company’s oil and natural gas reserves and other factors and added new provisions that allow the Company to elect a commitment amount that is less than its borrowing base as determined by the lenders. The borrowing base is scheduled to be re-determined semi-annually with effective dates of May 1st and November 1st. In addition, the Company may request up to three additional redeterminations of the borrowing base during any 12 -month period. As of June 30, 2017 , the borrowing base was set at $1.5 billion , of which the Company had elected a commitment amount of $750.0 million , and the Company had $84.0 million in outstanding borrowings. The outstanding borrowings under the credit agreement bear interest at a rate elected by the Company that is equal to an alternative base rate (which is equal to the greatest of the prime rate, the Federal Funds effective rate plus 0.5% and 3-month LIBOR plus 1.0% ) or LIBOR, in each case plus the applicable margin. The applicable margin ranges from 0.50% to 1.50% in the case of the alternative base rate and from 1.50% to 2.50% in the case of LIBOR, in each case depending on the amount of the loan outstanding in relation to the borrowing base. The Company is obligated to pay a quarterly commitment fee ranging from 0.375% to 0.500% per year on the unused portion of the borrowing base, which fee is also dependent on the amount of the loan outstanding in relation to the borrowing base. Loan principal may be optionally repaid from time to time without premium or penalty (other than customary LIBOR breakage), and is required to be repaid (a) to the extent that the loan amount exceeds the borrowing base, whether due to a borrowing base redetermination or otherwise (in some cases subject to a cure period), (b) in an amount equal to the net cash proceeds from the sale of property when a borrowing base deficiency or event of default exists under the credit agreement and (c) at the maturity date of November 1, 2018. The credit agreement contains various affirmative, negative and financial maintenance covenants. These covenants, among other things, limit additional indebtedness, additional liens, sales of assets, mergers and consolidations, dividends and distributions, transactions with affiliates and entering into certain swap agreements and require the maintenance of the financial ratios described below. Financial Covenant Required Ratio Ratio of total debt to EBITDAX Not greater than 4.0 to 1.0 Ratio of current assets to liabilities, as defined in the credit agreement Not less than 1.0 to 1.0 The covenant prohibiting additional indebtedness, as amended in December 2016, allows for the issuance of unsecured debt of up to $1.0 billion in the form of senior or senior subordinated notes and, in connection with any such issuance, the reduction of the borrowing base by 25% of the stated principal amount of each such issuance. A borrowing base reduction in connection with such issuance may require a portion of the outstanding principal of the loan to be repaid. As of June 30, 2017 , the Company had $1.0 billion in aggregate principal amount of senior unsecured notes outstanding. As of June 30, 2017 and December 31, 2016 , the Company was in compliance with all financial covenants under its revolving credit facility, as then in effect. The lenders may accelerate all of the indebtedness under the Company’s revolving credit facility upon the occurrence and during the continuance of any event of default. The credit agreement contains customary events of default, including non-payment, breach of covenants, materially incorrect representations, cross-default, bankruptcy and change of control. There are no cure periods for events of default due to non-payment of principal and breaches of negative and financial covenants, but non-payment of interest and breaches of certain affirmative covenants are subject to customary cure periods. The Partnership’s Credit Agreement The Partnership entered into a $500.0 million secured revolving credit agreement, dated as of July 8, 2014, as amended, with Wells Fargo, as the administrative agent, sole book runner and lead arranger, and certain other lenders party thereto. The borrowing base is scheduled to be re-determined semi-annually with effective dates of April 1st and October 1st. In addition, the Partnership may request up to three additional redeterminations of the borrowing base during any 12 -month period. As of June 30, 2017 , the borrowing base was set at $315.0 million and the Partnership had $81.5 million in outstanding borrowings under the credit agreement. The outstanding borrowings under the credit agreement bear interest at a rate elected by the Partnership that is equal to an alternative base rate (which is equal to the greatest of the prime rate, the Federal Funds effective rate plus 0.5% and 3-month LIBOR plus 1.0% ) or LIBOR, in each case plus the applicable margin. The applicable margin ranges from 1.00% to 2.00% in the case of the alternative base rate and from 2.00% to 3.00% in the case of LIBOR, in each case depending on the amount of the loan outstanding in relation to the borrowing base. The Partnership is obligated to pay a quarterly commitment fee ranging from 0.375% to 0.500% per year on the unused portion of the borrowing base, which fee is also dependent on the amount of the loan outstanding in relation to the borrowing base. Loan principal may be optionally repaid from time to time without premium or penalty (other than customary LIBOR breakage), and is required to be repaid (a) to the extent that the loan amount exceeds the borrowing base, whether due to a borrowing base redetermination or otherwise (in some cases subject to a cure period) and (b) at the maturity date of July 8, 2019. The loan is secured by substantially all of the assets of the Partnership and its subsidiaries. The credit agreement contains various affirmative, negative and financial maintenance covenants. These covenants, among other things, limit additional indebtedness, purchases of margin stock, additional liens, sales of assets, mergers and consolidations, dividends and distributions, transactions with affiliates and entering into certain swap agreements and require the maintenance of the financial ratios described below. Financial Covenant Required Ratio Ratio of total debt to EBITDAX Not greater than 4.0 to 1.0 Ratio of current assets to liabilities, as defined in the credit agreement Not less than 1.0 to 1.0 The covenant prohibiting additional indebtedness allows for the issuance of unsecured debt of up to $250.0 million in the form of senior unsecured notes and, in connection with any such issuance, the reduction of the borrowing base by 25% of the stated principal amount of each such issuance. A borrowing base reduction in connection with such issuance may require a portion of the outstanding principal of the loan to be repaid. The lenders may accelerate all of the indebtedness under the Partnership’s credit agreement upon the occurrence and during the continuance of any event of default. The Partnership’s credit agreement contains customary events of default, including non-payment, breach of covenants, materially incorrect representations, cross-default, bankruptcy and change of control. There are no cure periods for events of default due to non-payment of principal and breaches of negative and financial covenants, but non-payment of interest and breaches of certain affirmative covenants are subject to customary cure periods.

Capital Stock and Earnings Per

Capital Stock and Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Capital Stock and Earnings Per Share	CAPITAL STOCK AND EARNINGS PER SHARE In January 2016, the Company completed an underwritten public offering of 4,600,000 shares of common stock, which included 600,000 shares of common stock issued pursuant to an option to purchase additional shares granted to the underwriter. The stock was sold to the underwriter at $55.33 per share and the Company received proceeds of approximately $254.5 million from the sale of these shares of common stock, net of offering expenses and underwriting discounts and commissions. Diamondback completed no other equity offerings during the six months ended June 30, 2017 and 2016 . Partnership Equity Offering In January 2017, the Partnership completed an underwritten public offering of 9,775,000 common units, which included 1,275,000 common units issued pursuant to an option to purchase additional common units granted to the underwriters. The Partnership received net proceeds from this offering of approximately $147.6 million , after deducting underwriting discounts and commissions and estimated offering expenses, of which Partnership used $120.5 million to repay the outstanding borrowings under its revolving credit agreement and intends to use the remaining net proceeds for general partnership purposes, which may include additional acquisitions. Earnings Per Share The Company’s basic earnings per share amounts have been computed based on the weighted-average number of shares of common stock outstanding for the period. Diluted earnings per share include the effect of potentially dilutive shares outstanding for the period. Additionally, for the diluted earnings per share computation, the per share earnings of the Partnership are included in the consolidated earnings per share computation based on the consolidated group’s holdings of the subsidiary. A reconciliation of the components of basic and diluted earnings per common share is presented in the table below: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands, except per share amounts) Net income (loss) attributable to common stock $ 158,405 $ (155,490 ) $ 294,678 $ (188,402 ) Weighted average common shares outstanding Basic weighted average common units outstanding 98,142 71,719 95,665 71,372 Effect of dilutive securities: Potential common shares issuable 212 — 260 — Diluted weighted average common shares outstanding 98,354 71,719 95,925 71,372 Basic net income (loss) attributable to common stock $ 1.61 $ (2.17 ) $ 3.08 $ (2.64 ) Diluted net income (loss) attributable to common stock $ 1.61 $ (2.17 ) $ 3.07 $ (2.64 ) For the three months ended June 30, 2017 and 2016 , there were 64,411 shares and 25,591 shares, respectively, and during the six months ended June 30, 2017 and 2016 , there were 0 shares and 174,279 shares, respectively, that were not included in the computation of diluted earnings per share because their inclusion would have been anti-dilutive for the periods presented. These shares could dilute basic earnings per share in future periods.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Based Compensation	EQUITY-BASED COMPENSATION The following table presents the effects of the equity compensation plans and related costs: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) General and administrative expenses $ 6,168 $ 6,029 $ 13,231 $ 14,378 Equity-based compensation capitalized pursuant to full cost method of accounting for oil and natural gas properties 1,901 1,845 4,244 4,609 Stock Options The following table presents the Company’s stock option activity under the Company’s Equity Incentive Plan (“Equity Plan”) for the six months ended June 30, 2017 . Weighted Average Exercise Remaining Intrinsic Options Price Term Value (in years) (in thousands) Outstanding at December 31, 2016 15,750 $ 22.72 Exercised (15,750 ) $ 22.72 Outstanding at June 30, 2017 — $ — 0.00 $ — The aggregate intrinsic value of stock options that were exercised during the six months ended June 30, 2017 and 2016 was $1.2 million and $1.3 million , respectively. Restricted Stock Units The following table presents the Company’s restricted stock units activity under the Equity Plan during the six months ended June 30, 2017 . Restricted Stock Weighted Average Grant-Date Unvested at December 31, 2016 206,004 $ 70.33 Granted 87,641 $ 107.97 Vested (109,528 ) $ 75.44 Forfeited (759 ) $ 85.15 Unvested at June 30, 2017 183,358 $ 85.21 The aggregate fair value of restricted stock units that vested during the six months ended June 30, 2017 and 2016 was $11.4 million and $8.2 million , respectively. As of June 30, 2017 , the Company’s unrecognized compensation cost related to unvested restricted stock awards and units was $10.5 million . Such cost is expected to be recognized over a weighted-average period of 1.5 years. Performance Based Restricted Stock Units To provide long-term incentives for the executive officers to deliver competitive returns to the Company’s stockholders, the Company has granted performance-based restricted stock units to eligible employees. The ultimate number of shares awarded from these conditional restricted stock units is based upon measurement of total stockholder return of the Company’s common stock (“TSR”) as compared to a designated peer group during a two -year or three -year performance period. In February 2017, eligible employees received performance restricted stock unit awards totaling 37,440 units from which a minimum of 0% and a maximum of 200% units could be awarded. The awards have a performance period of January 1, 2017 to December 31, 2018 and cliff vest at December 31, 2018. Eligible employees received additional performance restricted stock unit awards totaling 74,880 units from which a minimum of 0% and a maximum of 200% units could be awarded. The awards have a performance period of January 1, 2017 to December 31, 2019 and cliff vest at December 31, 2019. The fair value of each performance restricted stock unit is estimated at the date of grant using a Monte Carlo simulation, which results in an expected percentage of units to be earned during the performance period. The following table presents a summary of the grant-date fair values of performance restricted stock units granted and the related assumptions for the February 2017 awards. 2017 Two-Year Performance Period Three-Year Performance Period Grant-date fair value $ 162.13 $ 168.73 Risk-free rate 1.27 % 1.59 % Company volatility 39.32 % 41.14 % The following table presents the Company’s performance restricted stock units activity under the Equity Plan for the six months ended June 30, 2017 . Performance Restricted Stock Units Weighted Average Grant-Date Fair Value Unvested at December 31, 2016 252,471 $ 103.06 Granted 118,169 $ 166.53 Unvested at June 30, 2017 (1) 370,640 $ 123.29 (1) A maximum of 741,280 units could be awarded based upon the Company’s final TSR ranking. As of June 30, 2017 , the Company’s unrecognized compensation cost related to unvested performance based restricted stock awards and units was $25.6 million . Such cost is expected to be recognized over a weighted-average period of 1.8 years. Phantom Units Under the Viper LTIP, the Board of Directors of the General Partner is authorized to issue phantom units to eligible employees. The Partnership estimates the fair value of phantom units as the closing price of the Partnership’s common units on the grant date of the award, which is expensed over the applicable vesting period. Upon vesting the phantom units entitle the recipient one common unit of the Partnership for each phantom unit. The following table presents the phantom unit activity under the Viper LTIP for the six months ended June 30, 2017 . Phantom Units Weighted Average Grant-Date Unvested at December 31, 2016 21,048 $ 16.23 Granted 3,126 $ 17.49 Vested (13,816 ) $ 16.05 Unvested at June 30, 2017 10,358 $ 16.85 The aggregate fair value of phantom units that vested during the six months ended June 30, 2017 was $0.2 million . As of June 30, 2017 , the unrecognized compensation cost related to unvested phantom units was $0.2 million . Such cost is expected to be recognized over a weighted-average period of 1.3 years.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Immediately upon the completion of the Company’s initial public offering on October 17, 2012, Wexford beneficially owned approximately 44% of the Company’s outstanding common stock. As of December 31, 2016, Wexford beneficially owned less than 1% of the Company’s outstanding common stock. The Chairman of the Board of Directors of both the Company and the General Partner was a partner at Wexford until his retirement from Wexford effective December 31, 2016. Another partner at Wexford serves as a member of the Board of Directors of the General Partner. Beginning January 1, 2017, Wexford and entities affiliated with Wexford are no longer considered related parties of the Company and any expenses after December 31, 2016 are no longer classified as related party expenses. Related Party Revenue and Expenses During the three months ended June 30, 2016 , the Company paid $1.3 million in lease operating expenses and $0.6 million in general and administrative expenses to related parties. During the three months ended June 30, 2016 , the Company received less than $0.1 million in other income from related parties. During the six months ended June 30, 2016 , the Company paid $1.6 million in lease operating expenses and $1.0 million in general and administrative expenses to related parties. During the six months ended June 30, 2016 , the Company received $0.1 million in other income from related parties. Advisory Services Agreement - The Company The Company entered into an advisory services agreement (the “Advisory Services Agreement”) with Wexford, dated as of October 11, 2012, under which Wexford provides the Company with general financial and strategic advisory services related to the business in return for an annual fee of $0.5 million , plus reasonable out-of-pocket expenses. The Advisory Services Agreement had an initial term of two years commencing on October 18, 2012, and continues for additional one -year periods unless terminated in writing by either party at least ten days prior to the expiration of the then current term. The Company incurred total costs of $0.1 million and $0.3 million during the three months and six months ended June 30, 2016 , respectively, under the Advisory Services Agreement. Advisory Services Agreement - The Partnership In connection with the closing of the Viper Offering, the Partnership and the General Partner entered into an advisory services agreement (the “Viper Advisory Services Agreement”) with Wexford, dated as of June 23, 2014, under which Wexford provides the Partnership and the General Partner with general financial and strategic advisory services related to the business in return for an annual fee of $0.5 million , plus reasonable out-of-pocket expenses. The Viper Advisory Services Agreement had an initial term of two years commencing on June 23, 2014, and will continue for additional one -year periods unless terminated in writing by either party at least ten days prior to the expiration of the then current term. The Partnership did no t incur any costs during the three months and six months ended June 30, 2017 or June 30, 2016 under the Viper Advisory Services Agreement. Midland Corporate Lease Effective May 15, 2011, the Company occupied corporate office space in Midland, Texas under a lease with an initial five -year term, which was extended for an additional ten -years in November 2014. The office space is owned by Fasken, which is controlled by an affiliate of Wexford. The Company paid rent of $0.4 million and $0.7 million for the three months and six months ended June 30, 2016 , respectively. Field Office Lease The Company leased field office space in Midland, Texas from an unrelated third party commencing on March 1, 2011. On March 1, 2014, the building was purchased by WT Commercial Portfolio, LLC, which is controlled by an affiliate of Wexford. The term of the lease expires on February 28, 2018. During the third quarter of 2014, the Company entered into a sublease with Bison, in which Bison leased the field office space on the same terms as the Company’s lease for the remainder of the lease term. The Company paid rent of less than $0.1 million during both the three months and six months ended June 30, 2016 . The Company received payments of less than $0.1 million and $0.1 million from Bison in respect of this sublease during the three months and six months ended June 30, 2016 , respectively. During the second quarter of 2017, the sublease between the Company and Bison as well as the original lease between the Company and WT Commercial Portfolio, LLC were terminated. The Partnership - Lease Bonus During both the three months and six months ended June 30, 2017 , the Company paid the Partnership $0.1 million in lease bonus payments to extend the term of two leases, reflecting an average bonus of $7,459 per acre. During the three months and six months ended June 30, 2016 , the Company paid the Partnership $0.2 million and $0.3 million , respectively, in lease bonus payments to extend the term of four leases, reflecting an average bonus of $1,519 per acre.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	The Company’s effective income tax rates were 1.1% and 0.2% for the six months ended June 30, 2017 and 2016 , respectively. Total income tax expense for the six months ended June 30, 2017 differed from amounts computed by applying the United States federal statutory tax rate to pre-tax income primarily due to current and deferred state income taxes and the change in valuation allowance that offsets the Company’s federal net deferred tax asset position. The Company incurs state income tax obligations in Texas, the primary state in which it operates, pursuant to the Texas margin tax. Any positive net taxable income generated by the Company for federal income tax purposes for the six months ended June 30, 2017 is expected to be offset by federal net operating loss (“NOL”) carryforwards, for which a full valuation allowance has been provided. During the six months ended June 30, 2017 , the Company reduced its valuation allowance against its federal NOL by $56.8 million , bringing the total valuation allowance to $30.2 million . The valuation allowance reduces the Company’s deferred assets to a zero value, as management does not believe that it is more-likely-than-not that this portion of the Company's NOLs are realizable. Management believes that the balance of the Company's NOLs are realizable only to the extent of future taxable income primarily related to the excess of book carrying value of properties over their respective tax bases. No other sources of future taxable income are considered in this judgment.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES All derivative financial instruments are recorded at fair value. The Company has not designated its derivative instruments as hedges for accounting purposes and, as a result, marks its derivative instruments to fair value and recognizes the cash and non-cash changes in fair value in the combined consolidated statements of operations under the caption “Gain (loss) on derivative instruments, net.” The Company has used fixed price swap contracts, fixed price basis swap contracts and costless collars with corresponding put and call options to reduce price volatility associated with certain of its oil and natural gas sales. With respect to the Company’s fixed price swap contracts and fixed price basis swap contracts, the counterparty is required to make a payment to the Company if the settlement price for any settlement period is less than the swap or basis price, and the Company is required to make a payment to the counterparty if the settlement price for any settlement period is greater than the swap or basis price. The Company has fixed price basis swaps for the spread between the WTI Midland price and the WTI Cushing price. Under the Company’s costless collar contracts, the counterparty is required to make a payment to the Company if the settlement price for any settlement period is less than the put option price, and the Company is required to make a payment to the counterparty if the settlement price for any settlement period is greater than the call option price. If the settlement price is between the put and the call price, there is no payment required. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing and with natural gas derivative settlements based on the New York Mercantile Exchange Henry Hub pricing. By using derivative instruments to hedge exposure to changes in commodity prices, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk. The Company’s counterparties are participants in the secured second amended and restated credit agreement, which is secured by substantially all of the assets of the guarantor subsidiaries; therefore, the Company is not required to post any collateral. The Company does not require collateral from its counterparties. The Company has entered into derivative instruments only with counterparties that are also lenders in our credit facility and have been deemed an acceptable credit risk. As of June 30, 2017 , the Company had the following outstanding derivative contracts. When aggregating multiple contracts, the weighted average contract price is disclosed. 2017 2018 2019 Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Oil Swaps 2,576,000 $ 53.40 4,919,000 $ 51.30 730,000 $ 49.65 Oil Basis Swaps 4,416,000 $ (0.72 ) 5,475,000 $ (0.88 ) 0 $ — Natural Gas Swaps 5,520,000 $ 3.25 5,000,000 $ 3.21 0 $ — Floor Ceiling Volume Fixed Price (per Bbl) Volume Fixed Price (per Bbl) July 2017 - December 2017 Costless Collars 3,128,000 $ 47.12 1,564,000 $ 56.45 January 2018 - March 2018 Costless Collars 540,000 $ 47.00 270,000 $ 56.34 Balance sheet offsetting of derivative assets and liabilities The fair value of swaps is generally determined using established index prices and other sources which are based upon, among other things, futures prices and time to maturity. These fair values are recorded by netting asset and liability positions that are with the same counterparty and are subject to contractual terms which provide for net settlement. The following tables present the gross amounts of recognized derivative assets and liabilities, the amounts offset under master netting arrangements with counterparties and the resulting net amounts presented in the Company’s consolidated balance sheets as of June 30, 2017 and December 31, 2016 . June 30, 2017 December 31, 2016 (in thousands) Gross amounts of assets presented in the Consolidated Balance Sheet $ 46,111 $ 709 Net amounts of assets presented in the Consolidated Balance Sheet 46,111 709 Gross amounts of liabilities presented in the Consolidated Balance Sheet — 22,608 Net amounts of liabilities presented in the Consolidated Balance Sheet $ — $ 22,608 The net amounts are classified as current or noncurrent based on their anticipated settlement dates. The net fair value of the Company’s derivative assets and liabilities and their locations on the consolidated balance sheet are as follows: June 30, 2017 December 31, 2016 (in thousands) Current assets: derivative instruments $ 41,732 $ — Noncurrent assets: derivative instruments 4,379 709 Total assets $ 46,111 $ 709 Current liabilities: derivative instruments $ — $ 22,608 Total liabilities $ — $ 22,608 None of the Company’s derivatives have been designated as hedges. As such, all changes in fair value are immediately recognized in earnings. The following table summarizes the gains and losses on derivative instruments included in the consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Change in fair value of open non-hedge derivative instruments $ 28,635 $ (11,592 ) $ 68,010 $ (15,283 ) Gain (loss) on settlement of non-hedge derivative instruments 4,685 (533 ) 3,011 4,584 Gain (loss) on derivative instruments $ 33,320 $ (12,125 ) $ 71,021 $ (10,699 )

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The Company’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The Company uses appropriate valuation techniques based on available inputs to measure the fair values of its assets and liabilities. Level 1 - Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Level 2 - Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 - Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Assets and Liabilities Measured at Fair Value on a Recurring Basis Certain assets and liabilities are reported at fair value on a recurring basis, including the Company’s derivative instruments. The fair values of the Company’s fixed price swaps, fixed price basis swaps and costless collars are measured internally using established commodity futures price strips for the underlying commodity provided by a reputable third party, the contracted notional volumes, and time to maturity. These valuations are Level 2 inputs. The following table provides fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 . June 30, 2017 December 31, 2016 (in thousands) Fixed price swaps: Quoted prices in active markets level 1 $ — $ — Significant other observable inputs level 2 46,111 23,317 Significant unobservable inputs level 3 — — Total $ 46,111 $ 23,317 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The following table provides the fair value of financial instruments that are not recorded at fair value in the consolidated balance sheets. June 30, 2017 December 31, 2016 Carrying Carrying Amount Fair Value Amount Fair Value (in thousands) Debt: Revolving credit facility $ 84,000 $ 84,000 $ — $ — 4.750% Senior Notes due 2024 500,000 498,750 500,000 491,250 5.375% Senior Notes due 2025 500,000 511,250 500,000 502,850 Partnership revolving credit facility 81,500 81,500 120,500 120,500 The fair value of the revolving credit facility approximates its carrying value based on borrowing rates available to the Company for bank loans with similar terms and maturities and is classified as Level 2 in the fair value hierarchy. The fair value of the Senior Notes was determined using the June 30, 2017 quoted market price, a Level 1 classification in the fair value hierarchy. The fair value of the Partnership’s revolving credit facility approximates its carrying value based on borrowing rates available to us for bank loans with similar terms and maturities and is classified as Level 2 in the fair value hierarchy.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company could be subject to various possible loss contingencies which arise primarily from interpretation of federal and state laws and regulations affecting the natural gas and crude oil industry. Such contingencies include differing interpretations as to the prices at which natural gas and crude oil sales may be made, the prices at which royalty owners may be paid for production from their leases, environmental issues and other matters. Management believes it has complied with the various laws and regulations, administrative rulings and interpretations.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS Commodity Contracts Subsequent to June 30, 2017 , the Company entered into new fixed price swaps. The Company’s derivative contracts are based upon reported settlement prices on commodity exchanges, with crude oil derivative settlements based on New York Mercantile Exchange West Texas Intermediate pricing. The following tables present the derivative contracts entered into by the Company subsequent to June 30, 2017 . When aggregating multiple contracts, the weighted average contract price is disclosed. Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) January 2018 - December 2018 Oil Swaps 2,920,000 $ 48.92 January 2019 - December 2019 Oil Swaps 730,000 $ 49.65 The Partnership’s Equity Offering and Repayment of Outstanding Borrowings under the Partnership’s Revolving Credit Facility In July 2017, the Partnership completed an underwritten public offering of 16,100,000 common units, which included 2,100,000 common units issued pursuant to an option to purchase additional common units granted to the underwriters. In this offering, the Company purchased 700,000 common units, an affiliate of the General Partner purchased 3,000,000 common units and certain officers and directors of the Company and the General Partner purchased an aggregate of 114,000 common units, in each case directly from the underwriters. Following this offering, the Company had an approximate 64% limited partner interest in the Partnership. The Partnership received net proceeds from this offering of approximately $232.6 million , after deducting underwriting discounts and commissions and estimated offering expenses, of which the Partnership used $152.8 million to repay all of the then-outstanding borrowings under the Partnership’s revolving credit facility and intends to use the remaining net proceeds to fund a portion of the purchase price for pending acquisitions and for general partnership purposes, which may include additional acquisitions. Senior Notes Exchange Offer As required under the terms of the registration rights agreements relating to the 2024 Senior Notes and the 2025 Senior Notes, the Company filed with the SEC its Registration Statement on Form S-4, as amended (the “Registration Statement”), relating to the exchange offers of the 2024 Senior Notes and the 2025 Senior Notes for substantially identical notes registered under the Securities Act (the “Exchange Offers”). The Registration Statement was declared effective by the SEC on June 21, 2017 and the Company closed the Exchange Offers on July 27, 2017, in which all privately placed 2024 Senior Notes and 2025 Senior Notes were exchanged for substantially identical notes registered under the Securities Act.

Guarantor Financial Statements

Guarantor Financial Statements	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Financial Statements	GUARANTOR FINANCIAL STATEMENTS As of June 30, 2017 , Diamondback E&P LLC and Diamondback O&G LLC (the “Guarantor Subsidiaries”) are guarantors under the indentures relating to the 2024 Senior Notes and the 2025 Senior Notes. In connection with the issuance of the 2024 Senior Notes and the 2025 Senior Notes, the Partnership, the General Partner, Viper Energy Partners LLC and Rattler Midstream LLC were designated as Non-Guarantor Subsidiaries. The following presents condensed consolidated financial information for the Company (which for purposes of this Note 17 is referred to as the “Parent”), the Guarantor Subsidiaries and the Non–Guarantor Subsidiaries on a consolidated basis. Elimination entries presented are necessary to combine the entities. The information is presented in accordance with the requirements of Rule 3-10 under the SEC’s Regulation S-X. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the Guarantor Subsidiaries operated as independent entities. The Company has not presented separate financial and narrative information for each of the Guarantor Subsidiaries because it believes such financial and narrative information would not provide any additional information that would be material in evaluating the sufficiency of the Guarantor Subsidiaries. Condensed Consolidated Balance Sheet June 30, 2017 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 896 $ 14,078 $ 1,614 $ — $ 16,588 Accounts receivable — 143,529 11,098 — 154,627 Accounts receivable - related party — 8 3,224 (3,224 ) 8 Intercompany receivable 3,000,954 572,954 — (3,573,908 ) — Inventories — 4,925 — — 4,925 Other current assets 301 44,697 191 — 45,189 Total current assets 3,002,151 780,191 16,127 (3,577,132 ) 221,337 Property and equipment: Oil and natural gas properties, at cost, full cost method of accounting — 7,424,971 886,537 (414 ) 8,311,094 Midstream assets — 95,491 — — 95,491 Other property, equipment and land — 71,978 — — 71,978 Accumulated depletion, depreciation, amortization and impairment — (1,811,340 ) (166,467 ) 7,991 (1,969,816 ) Net property and equipment — 5,781,100 720,070 7,577 6,508,747 Derivative instruments — 4,379 — — 4,379 Investment in subsidiaries 2,811,248 — — (2,811,248 ) — Deferred income taxes 321 — — — 321 Other assets — 13,942 35,083 — 49,025 Total assets $ 5,813,720 $ 6,579,612 $ 771,280 $ (6,380,803 ) $ 6,783,809 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable-trade $ 4 $ 27,756 $ 4 $ — $ 27,764 Intercompany payable — 3,577,132 — (3,577,132 ) — Other current liabilities 7,422 286,287 1,693 — 295,402 Total current liabilities 7,426 3,891,175 1,697 (3,577,132 ) 323,166 Long-term debt 986,015 84,000 81,500 — 1,151,515 Asset retirement obligations — 19,539 — — 19,539 Deferred income taxes 2,655 — — — 2,655 Total liabilities 996,096 3,994,714 83,197 (3,577,132 ) 1,496,875 Commitments and contingencies Stockholders’ equity 4,817,624 2,584,898 688,083 (3,272,981 ) 4,817,624 Non-controlling interest — — — 469,310 469,310 Total equity 4,817,624 2,584,898 688,083 (2,803,671 ) 5,286,934 Total liabilities and equity $ 5,813,720 $ 6,579,612 $ 771,280 $ (6,380,803 ) $ 6,783,809 Condensed Consolidated Balance Sheet December 31, 2016 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 1,643,226 $ 14,135 $ 9,213 $ — $ 1,666,574 Restricted cash — — 500 — 500 Accounts receivable — 109,782 10,043 — 119,825 Accounts receivable - related party — 297 3,470 (3,470 ) 297 Intercompany receivable 3,060,566 359,502 — (3,420,068 ) — Inventories — 1,983 — — 1,983 Other current assets 481 2,319 187 — 2,987 Total current assets 4,704,273 488,018 23,413 (3,423,538 ) 1,792,166 Property and equipment: Oil and natural gas properties, at cost, full cost method of accounting — 4,400,002 760,818 (559 ) 5,160,261 Midstream assets — 8,362 — — 8,362 Other property, equipment and land — 58,290 — — 58,290 Accumulated depletion, depreciation, amortization and impairment — (1,695,701 ) (148,948 ) 8,593 (1,836,056 ) Net property and equipment — 2,770,953 611,870 8,034 3,390,857 Funds held in escrow — 121,391 — — 121,391 Derivative instruments — 709 — — 709 Investment in subsidiaries (15,500 ) — — 15,500 — Other assets — 9,291 35,266 — 44,557 Total assets $ 4,688,773 $ 3,390,362 $ 670,549 $ (3,400,004 ) $ 5,349,680 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable-trade $ 30 $ 45,838 $ 1,780 $ — $ 47,648 Accounts payable-related party 1 — — — 1 Intercompany payable — 3,423,538 — (3,423,538 ) — Other current liabilities 5,868 155,454 371 — 161,693 Total current liabilities 5,899 3,624,830 2,151 (3,423,538 ) 209,342 Long-term debt 985,412 — 120,500 — 1,105,912 Asset retirement obligations — 16,134 — — 16,134 Total liabilities 991,311 3,640,964 122,651 (3,423,538 ) 1,331,388 Commitments and contingencies Stockholders’ equity 3,697,462 (250,602 ) 547,898 (297,296 ) 3,697,462 Non-controlling interest — — — 320,830 320,830 Total equity 3,697,462 (250,602 ) 547,898 23,534 4,018,292 Total liabilities and equity $ 4,688,773 $ 3,390,362 $ 670,549 $ (3,400,004 ) $ 5,349,680 Condensed Consolidated Statement of Operations Three Months Ended June 30, 2017 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Revenues: Oil sales $ — $ 206,113 $ — $ 31,771 $ 237,884 Natural gas sales — 10,739 — 1,954 12,693 Natural gas liquid sales — 14,649 — 2,208 16,857 Royalty income — — 35,933 (35,933 ) — Lease bonus income — — 689 (106 ) 583 Midstream services — 1,417 — — 1,417 Total revenues — 232,918 36,622 (106 ) 269,434 Costs and expenses: Lease operating expenses — 28,989 — — 28,989 Production and ad valorem taxes — 13,106 2,773 — 15,879 Gathering and transportation — 2,871 144 — 3,015 Midstream services — 1,828 — — 1,828 Depreciation, depletion and amortization — 65,091 9,672 410 75,173 General and administrative expenses 6,432 4,521 1,554 (615 ) 11,892 Asset retirement obligation accretion — 350 — — 350 Total costs and expenses 6,432 116,756 14,143 (205 ) 137,126 Income (loss) from operations (6,432 ) 116,162 22,479 99 132,308 Other income (expense) Interest expense (6,325 ) (1,277 ) (643 ) — (8,245 ) Other income — 8,626 313 (615 ) 8,324 Gain on derivative instruments, net — 33,320 — — 33,320 Total other income (expense), net (6,325 ) 40,669 (330 ) (615 ) 33,399 Income (loss) before income taxes (12,757 ) 156,831 22,149 (516 ) 165,707 Provision for income taxes 1,579 — — — 1,579 Net income (loss) (14,336 ) 156,831 22,149 (516 ) 164,128 Net income attributable to non-controlling interest — — — 5,723 5,723 Net income (loss) attributable to Diamondback Energy, Inc. $ (14,336 ) $ 156,831 $ 22,149 $ (6,239 ) $ 158,405 Condensed Consolidated Statement of Operations Three Months Ended June 30, 2016 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Revenues: Oil sales $ — $ 85,812 $ — $ 15,513 $ 101,325 Natural gas sales — 3,571 — 538 4,109 Natural gas liquid sales — 6,264 — 785 7,049 Royalty income — — 16,836 (16,836 ) — Lease bonus income — — 196 (196 ) — Total revenues — 95,647 17,032 (196 ) 112,483 Costs and expenses: Lease operating expenses — 18,677 — — 18,677 Production and ad valorem taxes — 6,756 1,403 — 8,159 Gathering and transportation — 2,341 91 — 2,432 Depreciation, depletion and amortization — 34,107 6,584 (820 ) 39,871 Impairment of oil and natural gas properties — 146,894 21,458 — 168,352 General and administrative expenses 6,067 2,250 1,207 — 9,524 Asset retirement obligation accretion — 254 — — 254 Total costs and expenses 6,067 211,279 30,743 (820 ) 247,269 Income (loss) from operations (6,067 ) (115,632 ) (13,711 ) 624 (134,786 ) Other income (expense) Interest expense (8,844 ) (719 ) (456 ) — (10,019 ) Other income 63 217 147 (250 ) 177 Loss on derivative instruments, net — (12,125 ) — — (12,125 ) Total other expense, net (8,781 ) (12,627 ) (309 ) (250 ) (21,967 ) Income (loss) before income taxes (14,848 ) (128,259 ) (14,020 ) 374 (156,753 ) Provision for income taxes 368 — — — 368 Net income (loss) (15,216 ) (128,259 ) (14,020 ) 374 (157,121 ) Net loss attributable to non-controlling interest — — — (1,631 ) (1,631 ) Net income (loss) attributable to Diamondback Energy, Inc. $ (15,216 ) $ (128,259 ) $ (14,020 ) $ 2,005 $ (155,490 ) Condensed Consolidated Statement of Operations Six Months Ended June 30, 2017 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Revenues: Oil sales $ — $ 384,343 $ — $ 60,615 $ 444,958 Natural gas sales — 19,314 — 3,301 22,615 Natural gas liquid sales — 28,292 — 4,067 32,359 Royalty income — — 67,983 (67,983 ) — Lease bonus income — — 2,291 (106 ) 2,185 Midstream services — 2,547 — — 2,547 Total revenues — 434,496 70,274 (106 ) 504,664 Costs and expenses: Lease operating expenses — 55,615 — — 55,615 Production and ad valorem taxes — 26,761 4,843 — 31,604 Gathering and transportation — 5,347 287 — 5,634 Midstream services — 2,682 — — 2,682 Depreciation, depletion and amortization — 115,982 17,519 601 134,102 General and administrative expenses 13,540 9,630 3,696 (1,230 ) 25,636 Asset retirement obligation accretion — 673 — — 673 Total costs and expenses 13,540 216,690 26,345 (629 ) 255,946 Income (loss) from operations (13,540 ) 217,806 43,929 523 248,718 Other income (expense) Interest expense (17,133 ) (2,082 ) (1,255 ) — (20,470 ) Other income 1,092 9,480 127 (1,230 ) 9,469 Gain on derivative instruments, net — 71,021 — — 71,021 Total other income (expense), net (16,041 ) 78,419 (1,128 ) (1,230 ) 60,020 Income (loss) before income taxes (29,581 ) 296,225 42,801 (707 ) 308,738 Provision for income taxes 3,536 — — — 3,536 Net income (loss) (33,117 ) 296,225 42,801 (707 ) 305,202 Net income attributable to non-controlling interest — — — 10,524 10,524 Net income (loss) attributable to Diamondback Energy, Inc. $ (33,117 ) $ 296,225 $ 42,801 $ (11,231 ) $ 294,678 Condensed Consolidated Statement of Operations Six Months Ended June 30, 2016 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Revenues: Oil sales $ — $ 151,907 $ — $ 28,438 $ 180,345 Natural gas sales — 6,980 — 1,151 8,131 Natural gas liquid sales — 10,155 — 1,333 11,488 Royalty income — — 30,922 (30,922 ) — Lease bonus income — — 304 (304 ) — Total revenues — 169,042 31,226 (304 ) 199,964 Costs and expenses: Lease operating expenses — 36,900 — — 36,900 Production and ad valorem taxes — 13,416 2,705 — 16,121 Gathering and transportation — 5,042 177 2 5,221 Depreciation, depletion and amortization — 69,235 14,734 (2,029 ) 81,940 Impairment of oil and natural gas properties — 151,699 47,469 — 199,168 General and administrative expenses 14,374 5,173 2,956 — 22,503 Asset retirement obligation accretion — 500 — — 500 Total costs and expenses 14,374 281,965 68,041 (2,027 ) 362,353 Income (loss) from operations (14,374 ) (112,923 ) (36,815 ) 1,723 (162,389 ) Other income (expense) Interest expense (17,702 ) (1,444 ) (886 ) — (20,032 ) Other income 120 524 346 (250 ) 740 Loss on derivative instruments, net — (10,699 ) — — (10,699 ) Total other expense, net (17,582 ) (11,619 ) (540 ) (250 ) (29,991 ) Income (loss) before income taxes (31,956 ) (124,542 ) (37,355 ) 1,473 (192,380 ) Provision for income taxes 368 — — — 368 Net income (loss) (32,324 ) (124,542 ) (37,355 ) 1,473 (192,748 ) Net loss attributable to non-controlling interest — — — (4,346 ) (4,346 ) Net income (loss) attributable to Diamondback Energy, Inc. $ (32,324 ) $ (124,542 ) $ (37,355 ) $ 5,819 $ (188,402 ) Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2017 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ (25,139 ) $ 358,123 $ 61,447 $ — $ 394,431 Cash flows from investing activities: Additions to oil and natural gas properties — (291,767 ) — — (291,767 ) Additions to midstream assets — (4,444 ) — — (4,444 ) Purchase of other property and equipment — (13,825 ) — — (13,825 ) Acquisition of leasehold interests — (1,860,980 ) — — (1,860,980 ) Acquisition of mineral interests — — (122,679 ) — (122,679 ) Acquisition of midstream assets — (50,279 ) — — (50,279 ) Proceeds from sale of assets — 1,295 — — 1,295 Funds held in escrow — 121,391 — — 121,391 Equity investments — (188 ) — — (188 ) Intercompany transfers (1,657,407 ) 1,657,407 — — — Net cash used in investing activities (1,657,407 ) (441,390 ) (122,679 ) — (2,221,476 ) Cash flows from financing activities: Proceeds from borrowing on credit facility — 162,000 104,000 — 266,000 Repayment on credit facility — (78,000 ) (143,000 ) — (221,000 ) Debt issuance costs (635 ) (790 ) (180 ) — (1,605 ) Public offering costs (79 ) — (217 ) — (296 ) Proceeds from public offerings — — 147,725 — 147,725 Distribution from subsidiary 40,572 — — (40,572 ) — Exercise of stock options 358 — — — 358 Distribution to non-controlling interest — — (54,695 ) 40,572 (14,123 ) Net cash provided by financing activities 40,216 83,210 53,633 — 177,059 Net decrease in cash and cash equivalents (1,642,330 ) (57 ) (7,599 ) — (1,649,986 ) Cash and cash equivalents at beginning of period 1,643,226 14,135 9,213 — 1,666,574 Cash and cash equivalents at end of period $ 896 $ 14,078 $ 1,614 $ — $ 16,588 Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2016 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ (18,829 ) $ 110,609 $ 30,001 $ — $ 121,781 Cash flows from investing activities: Additions to oil and natural gas properties — (149,661 ) — — (149,661 ) Purchase of other property and equipment — (1,224 ) — — (1,224 ) Acquisition of leasehold interests — (17,533 ) — — (17,533 ) Acquisition of mineral interests — — (11,319 ) — (11,319 ) Proceeds from sale of assets — 161 — — 161 Equity investments — (800 ) — — (800 ) Intercompany transfers (60,712 ) 60,712 — — — Net cash used in investing activities (60,712 ) (108,345 ) (11,319 ) — (180,376 ) Cash flows from financing activities: Proceeds from borrowing on credit facility — — 17,000 — 17,000 Repayment on credit facility — (11,000 ) — — (11,000 ) Debt issuance costs — (46 ) (20 ) — (66 ) Public offering costs (179 ) — — — (179 ) Proceeds from public offerings 254,518 — — — 254,518 Distribution from subsidiary 26,560 — — (26,560 ) — Exercise of stock options 498 — — — 498 Distribution to non-controlling interest — — (30,057 ) 26,560 (3,497 ) Intercompany transfers (11,000 ) 11,000 — — — Net cash provided by (used in) financing activities 270,397 (46 ) (13,077 ) — 257,274 Net increase in cash and cash equivalents 190,856 2,218 5,605 — 198,679 Cash and cash equivalents at beginning of period 148 19,428 539 — 20,115 Cash and cash equivalents at end of period $ 191,004 $ 21,646 $ 6,144 $ — $ 218,794

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates Certain amounts included in or affecting the Company’s consolidated financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the consolidated financial statements are prepared. These estimates and assumptions affect the amounts the Company reports for assets and liabilities and the Company’s disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates. The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Company’s estimates. Any effects on the Company’s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, asset retirement obligations, the fair value determination of acquired assets and liabilities, equity-based compensation, fair value estimates of commodity derivatives and estimates of income taxes.
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of the Company and its subsidiaries after all significant intercompany balances and transactions have been eliminated upon consolidation.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers”. This update supersedes most of the existing revenue recognition requirements in GAAP and requires (i) an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services and (ii) requires expanded disclosures regarding the nature, amount, timing and certainty of revenue and cash flows from contracts with customers. The standard will be effective for annual and interim reporting periods beginning after December 15, 2017, with early application permitted for annual reporting period beginning after December 31, 2016. The standard allows for either full retrospective adoption, meaning the standard is applied to all periods presented in the financial statements, or modified retrospective adoption, meaning the standard is applied only to the most current period presented. The Company is currently evaluating the impact of this standard; however, it does not believe this standard will have a material impact on the Company’s consolidated financial statements. In July 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-11, “Inventory”. This update applies to all inventory that is not measured using last-in, first-out or the retail inventory method. Under this update, an entity should measure inventory at the lower of cost and net realizable value. This standard was effective for financial statements issued for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. This standard should be applied prospectively with early adoption permitted as of the beginning of an interim or annual reporting period. The Company adopted this standard prospectively effective January 1, 2017. The adoption of this standard had no impact on the Company’s financial position, results of operations or liquidity because the Company currently measures its inventory at the lower of cost or net realizable value. In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-17, “Income Taxes”. This update requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The standard was effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. This standard may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company adopted this standard prospectively effective January 1, 2017. The Company will present deferred tax liabilities and assets as noncurrent. In January 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-01, “Financial Instruments–Overall”. This update applies to any entity that holds financial assets or owes financial liabilities. This update requires equity investments (except for those accounted for under the equity method or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. This update will be effective for public entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. Entities should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. While this update will not have a direct impact on the Company, the Partnership will be required to mark its cost method investment to fair value with the adoption of this update. In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-02, “Leases”. This update applies to any entity that enters into a lease, with some specified scope exemptions. Under this update, a lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. While there were no major changes to the lessor accounting, changes were made to align key aspects with the revenue recognition guidance. This update will be effective for public entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. Entities will be required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company believes the primary impact of adopting this standard will be the recognition of assets and liabilities on the balance sheet for current operating leases. The Company is still evaluating the impact of this standard. In March 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-08, “Revenue from Contracts with Customers - Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”. Under this update, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update will be effective for annual and interim reporting periods beginning after December 15, 2017, with early application not permitted. This update allows for either full retrospective adoption, meaning this update is applied to all periods presented in the financial statements, or modified retrospective adoption, meaning this update is applied only to the most current period presented. The Company is in its initial evaluation of the impact of this standard. However, it does not expect that there will be a significant change in the manner of the Company’s revenue recognition. The Company expects that certain additional disclosures will be required upon adoption of this standard. The Company is still determining which adoption method it will use. In March 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-09, "Compensation - Stock Compensation". This update applies to all entities that issue equity-based payment awards to their employees. Under this update, there were several areas that were simplified including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This update was effective for financial statements issued for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company prospectively adopted this standard effective January 1, 2017. The Company revised its calculation of diluted earnings per share to exclude the amount of excess tax benefits that would be recognized in additional paid-in capital. The Company also adopted a policy to account for forfeitures as they occur. In April 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-10, “Revenue from Contracts with Customers - Identifying Performance Obligations and Licensing”. This update clarifies two principles of Accounting Standards Codification Topic 606: identifying performance obligations and the licensing implementation guidance. This standard has the same effective date as Accounting Standards Update 2016-08, the revenue recognition standard discussed above. The adoption of this standard is not expected to have a material impact on the Company's financial position, results of operations and liquidity. In May 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-12, “Revenue from Contracts with Customers - Narrow-Scope Improvements and Practical Expedients”. This update applies only to the following areas from Accounting Standards Codification Topic 606: assessing the collectability criterion and accounting for contracts that do not meet the criteria for step 1, presentation of sales taxes and other similar taxes collected from customers, non-cash consideration, contract modification at transition, completed contracts at transition and technical correction. This standard has the same effective date as Accounting Standards Update 2016-08, the revenue recognition standard discussed above. The adoption of this standard is not expected to have a material impact on the Company's financial position, results of operations and liquidity. In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-13, “Financial Instruments - Credit Losses”. This update affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. This update will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The Company does not believe the adoption of this standard will have a material impact on the Company’s consolidated financial statements since the Company does not have a history of credit losses. In August 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-15, “Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments”. This update apples to all entities that are required to present a statement of cash flows. This update provides guidance on eight specific cash flow issues: debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions and separately identifiable cash flows and application of the predominance principle. This update will be effective for financial statements issued for fiscal years beginning after December 31, 2017, including interim periods within those fiscal years with early adoption permitted. This update should be applied using the retrospective transition method. Adoption of this standard will only affect the presentation of the Company’s cash flows and will not have a material impact on the Company’s consolidated financial statements. In November 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-18, “Statement of Cash Flows - Restricted Cash”. This update affects entities that have restricted cash or restricted cash equivalents. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. This update will be applied retrospectively. The Company does not expect the adoption of this standard to have a material impact on the Company’s consolidated financial statements. In January 2017, the Financial Accounting Standards Board issued Accounting Standards Update 2017-01, “Business Combinations - Clarifying the Definition of a Business”. This update apples to all entities that must determine whether they acquired or sold a business. This update provides a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This update will be effective for financial statements issued for fiscal years beginning after December 31, 2017, including interim periods within those fiscal years. This update should be applied prospectively on or after the effective date. This update is not expected to have a material impact on the Company’s financial statements or results of operations. The adoption of this update will change the process that the Company uses to evaluate whether the Company has acquired a business or an asset. This update will be applied prospectively and will not have an effect on prior acquisitions.
Fair Value Measurement	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value. The Company’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The Company uses appropriate valuation techniques based on available inputs to measure the fair values of its assets and liabilities. Level 1 - Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets as of the reporting date. Level 2 - Observable market-based inputs or unobservable inputs that are corroborated by market data. These are inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 - Unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2017
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information [Table Text Block]	The following unaudited summary pro forma consolidated statement of operations data of Diamondback for the three and six months June 30, 2017 and 2016 have been prepared to give effect to the February 28, 2017 acquisition as if it had occurred on January 1, 2016. The pro forma data are not necessarily indicative of financial results that would have been attained had the acquisitions occurred on January 1, 2016. The pro forma data also necessarily exclude various operation expenses related to the properties and the financial statements should not be viewed as indicative of operations in future periods. Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands, except per share amounts) Revenues $ 269,434 $ 135,752 $ 527,593 $ 238,416 Income (loss) from operations 132,308 (119,254 ) 263,060 (143,257 ) Net income (loss) 164,128 (139,958 ) 310,414 (169,270 ) Basic earnings per common share 1.61 (1.95 ) 3.24 (2.37 ) Diluted earnings per common share 1.61 (1.95 ) 3.24 (2.37 )
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The following represents the preliminary estimated fair value of the assets and liabilities assumed on the acquisition date. The aggregate consideration transferred was $2.6 billion , subject to post-closing adjustments, resulting in no goodwill or bargain purchase gain. (in thousands) Proved oil and natural gas properties $ 387,571 Unevaluated oil and natural gas properties 2,122,415 Midstream assets 47,554 Prepaid capital costs 3,460 Oil inventory 839 Revenues payable (8,723 ) Asset retirement obligations (1,550 ) Total fair value of net assets $ 2,551,566

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment includes the following: June 30, December 31, 2017 2016 (in thousands) Oil and natural gas properties: Subject to depletion $ 4,302,706 $ 3,429,742 Not subject to depletion 4,008,388 1,730,519 Gross oil and natural gas properties 8,311,094 5,160,261 Accumulated depletion (819,970 ) (687,685 ) Accumulated impairment (1,143,498 ) (1,143,498 ) Oil and natural gas properties, net 6,347,626 3,329,078 Midstream assets 95,491 8,362 Other property, equipment and land 71,978 58,290 Accumulated depreciation (6,348 ) (4,873 ) Property and equipment, net of accumulated depreciation, depletion, amortization and impairment $ 6,508,747 $ 3,390,857 Balance of acquisition costs not subject to depletion Incurred in 2017 $ 2,359,070 Incurred in 2016 $ 784,212 Incurred in 2015 $ 343,744 Incurred in 2014 $ 429,866 Incurred in 2013 $ 37,439 Incurred in 2012 $ 54,057

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2017
Asset Retirement Obligation [Abstract]
Asset Retirement Obligations	The following table describes the changes to the Company’s asset retirement obligation liability for the following periods: Six Months Ended June 30, 2017 2016 (in thousands) Asset retirement obligations, beginning of period $ 17,422 $ 12,711 Additional liabilities incurred 990 250 Liabilities acquired 2,180 803 Liabilities settled (149 ) (369 ) Accretion expense 673 500 Revisions in estimated liabilities (2 ) 88 Asset retirement obligations, end of period 21,114 13,983 Less current portion 1,575 196 Asset retirement obligations - long-term $ 19,539 $ 13,787

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Line of Credit Facility [Line Items]
Schedule of long-term debt	Long-term debt consisted of the following as of the dates indicated: June 30, December 31, 2017 2016 (in thousands) 4.750 % Senior Notes due 2024 $ 500,000 $ 500,000 5.375 % Senior Notes due 2025 500,000 500,000 Unamortized debt issuance costs (13,985 ) (14,588 ) Revolving credit facility 84,000 — Partnership revolving credit facility 81,500 120,500 Total long-term debt $ 1,151,515 $ 1,105,912
Financial Covenants	The credit agreement contains various affirmative, negative and financial maintenance covenants. These covenants, among other things, limit additional indebtedness, additional liens, sales of assets, mergers and consolidations, dividends and distributions, transactions with affiliates and entering into certain swap agreements and require the maintenance of the financial ratios described below. Financial Covenant Required Ratio Ratio of total debt to EBITDAX Not greater than 4.0 to 1.0 Ratio of current assets to liabilities, as defined in the credit agreement Not less than 1.0 to 1.0
Partnership Credit Facility [Member]
Line of Credit Facility [Line Items]
Financial Covenants	Financial Covenant Required Ratio Ratio of total debt to EBITDAX Not greater than 4.0 to 1.0 Ratio of current assets to liabilities, as defined in the credit agreement Not less than 1.0 to 1.0

Capital Stock and Earnings Pe30

Capital Stock and Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of reconciliation of basic and diluted net income per share	A reconciliation of the components of basic and diluted earnings per common share is presented in the table below: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands, except per share amounts) Net income (loss) attributable to common stock $ 158,405 $ (155,490 ) $ 294,678 $ (188,402 ) Weighted average common shares outstanding Basic weighted average common units outstanding 98,142 71,719 95,665 71,372 Effect of dilutive securities: Potential common shares issuable 212 — 260 — Diluted weighted average common shares outstanding 98,354 71,719 95,925 71,372 Basic net income (loss) attributable to common stock $ 1.61 $ (2.17 ) $ 3.08 $ (2.64 ) Diluted net income (loss) attributable to common stock $ 1.61 $ (2.17 ) $ 3.07 $ (2.64 )

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The effects of stock-based compensation plans and related costs	The following table presents the effects of the equity compensation plans and related costs: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) General and administrative expenses $ 6,168 $ 6,029 $ 13,231 $ 14,378 Equity-based compensation capitalized pursuant to full cost method of accounting for oil and natural gas properties 1,901 1,845 4,244 4,609
Schedule of stock/unit option activity	The following table presents the Company’s stock option activity under the Company’s Equity Incentive Plan (“Equity Plan”) for the six months ended June 30, 2017 . Weighted Average Exercise Remaining Intrinsic Options Price Term Value (in years) (in thousands) Outstanding at December 31, 2016 15,750 $ 22.72 Exercised (15,750 ) $ 22.72 Outstanding at June 30, 2017 — $ — 0.00 $ —
Summary of restricted stock units	The following table presents the Company’s restricted stock units activity under the Equity Plan during the six months ended June 30, 2017 . Restricted Stock Weighted Average Grant-Date Unvested at December 31, 2016 206,004 $ 70.33 Granted 87,641 $ 107.97 Vested (109,528 ) $ 75.44 Forfeited (759 ) $ 85.15 Unvested at June 30, 2017 183,358 $ 85.21
Summary of grant-date fair values of performance restricted stock units granted and related assumptions	The following table presents a summary of the grant-date fair values of performance restricted stock units granted and the related assumptions for the February 2017 awards. 2017 Two-Year Performance Period Three-Year Performance Period Grant-date fair value $ 162.13 $ 168.73 Risk-free rate 1.27 % 1.59 % Company volatility 39.32 % 41.14 %
Schedule of performance restricted stock units activity	The following table presents the Company’s performance restricted stock units activity under the Equity Plan for the six months ended June 30, 2017 . Performance Restricted Stock Units Weighted Average Grant-Date Fair Value Unvested at December 31, 2016 252,471 $ 103.06 Granted 118,169 $ 166.53 Unvested at June 30, 2017 (1) 370,640 $ 123.29 (1) A maximum of 741,280 units could be awarded based upon the Company’s final TSR ranking.
Viper Energy Partners LP Long Term Incentive Plan [Member] | Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Nonvested Share Activity [Table Text Block]	The following table presents the phantom unit activity under the Viper LTIP for the six months ended June 30, 2017 . Phantom Units Weighted Average Grant-Date Unvested at December 31, 2016 21,048 $ 16.23 Granted 3,126 $ 17.49 Vested (13,816 ) $ 16.05 Unvested at June 30, 2017 10,358 $ 16.85

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	As of June 30, 2017 , the Company had the following outstanding derivative contracts. When aggregating multiple contracts, the weighted average contract price is disclosed. 2017 2018 2019 Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Oil Swaps 2,576,000 $ 53.40 4,919,000 $ 51.30 730,000 $ 49.65 Oil Basis Swaps 4,416,000 $ (0.72 ) 5,475,000 $ (0.88 ) 0 $ — Natural Gas Swaps 5,520,000 $ 3.25 5,000,000 $ 3.21 0 $ — Floor Ceiling Volume Fixed Price (per Bbl) Volume Fixed Price (per Bbl) July 2017 - December 2017 Costless Collars 3,128,000 $ 47.12 1,564,000 $ 56.45 January 2018 - March 2018 Costless Collars 540,000 $ 47.00 270,000 $ 56.34 The following tables present the derivative contracts entered into by the Company subsequent to June 30, 2017 . When aggregating multiple contracts, the weighted average contract price is disclosed. Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) January 2018 - December 2018 Oil Swaps 2,920,000 $ 48.92 January 2019 - December 2019 Oil Swaps 730,000 $ 49.65
Schedule of netting offsets of derivative assets and liabilities	The following tables present the gross amounts of recognized derivative assets and liabilities, the amounts offset under master netting arrangements with counterparties and the resulting net amounts presented in the Company’s consolidated balance sheets as of June 30, 2017 and December 31, 2016 . June 30, 2017 December 31, 2016 (in thousands) Gross amounts of assets presented in the Consolidated Balance Sheet $ 46,111 $ 709 Net amounts of assets presented in the Consolidated Balance Sheet 46,111 709 Gross amounts of liabilities presented in the Consolidated Balance Sheet — 22,608 Net amounts of liabilities presented in the Consolidated Balance Sheet $ — $ 22,608
Schedule of derivative instruments included in the consolidated balance sheet	The net fair value of the Company’s derivative assets and liabilities and their locations on the consolidated balance sheet are as follows: June 30, 2017 December 31, 2016 (in thousands) Current assets: derivative instruments $ 41,732 $ — Noncurrent assets: derivative instruments 4,379 709 Total assets $ 46,111 $ 709 Current liabilities: derivative instruments $ — $ 22,608 Total liabilities $ — $ 22,608
Summary of derivative contract gains and losses included in the consolidated statements of operations	The following table summarizes the gains and losses on derivative instruments included in the consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 (in thousands) Change in fair value of open non-hedge derivative instruments $ 28,635 $ (11,592 ) $ 68,010 $ (15,283 ) Gain (loss) on settlement of non-hedge derivative instruments 4,685 (533 ) 3,011 4,584 Gain (loss) on derivative instruments $ 33,320 $ (12,125 ) $ 71,021 $ (10,699 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair value measurement information for financial instruments measured on a recurring basis	The following table provides fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 . June 30, 2017 December 31, 2016 (in thousands) Fixed price swaps: Quoted prices in active markets level 1 $ — $ — Significant other observable inputs level 2 46,111 23,317 Significant unobservable inputs level 3 — — Total $ 46,111 $ 23,317
Fair value measurement information for financial instruments measured on a nonrecurring basis	The following table provides the fair value of financial instruments that are not recorded at fair value in the consolidated balance sheets. June 30, 2017 December 31, 2016 Carrying Carrying Amount Fair Value Amount Fair Value (in thousands) Debt: Revolving credit facility $ 84,000 $ 84,000 $ — $ — 4.750% Senior Notes due 2024 500,000 498,750 500,000 491,250 5.375% Senior Notes due 2025 500,000 511,250 500,000 502,850 Partnership revolving credit facility 81,500 81,500 120,500 120,500

Subsequent Events (Tables)

Subsequent Events (Tables)	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Schedule of derivative instruments	As of June 30, 2017 , the Company had the following outstanding derivative contracts. When aggregating multiple contracts, the weighted average contract price is disclosed. 2017 2018 2019 Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) Oil Swaps 2,576,000 $ 53.40 4,919,000 $ 51.30 730,000 $ 49.65 Oil Basis Swaps 4,416,000 $ (0.72 ) 5,475,000 $ (0.88 ) 0 $ — Natural Gas Swaps 5,520,000 $ 3.25 5,000,000 $ 3.21 0 $ — Floor Ceiling Volume Fixed Price (per Bbl) Volume Fixed Price (per Bbl) July 2017 - December 2017 Costless Collars 3,128,000 $ 47.12 1,564,000 $ 56.45 January 2018 - March 2018 Costless Collars 540,000 $ 47.00 270,000 $ 56.34 The following tables present the derivative contracts entered into by the Company subsequent to June 30, 2017 . When aggregating multiple contracts, the weighted average contract price is disclosed. Volume (Bbls/MMBtu) Fixed Price Swap (per Bbl/MMBtu) January 2018 - December 2018 Oil Swaps 2,920,000 $ 48.92 January 2019 - December 2019 Oil Swaps 730,000 $ 49.65

Guarantor Financial Statements

Guarantor Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Balance Sheet	Condensed Consolidated Balance Sheet June 30, 2017 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 896 $ 14,078 $ 1,614 $ — $ 16,588 Accounts receivable — 143,529 11,098 — 154,627 Accounts receivable - related party — 8 3,224 (3,224 ) 8 Intercompany receivable 3,000,954 572,954 — (3,573,908 ) — Inventories — 4,925 — — 4,925 Other current assets 301 44,697 191 — 45,189 Total current assets 3,002,151 780,191 16,127 (3,577,132 ) 221,337 Property and equipment: Oil and natural gas properties, at cost, full cost method of accounting — 7,424,971 886,537 (414 ) 8,311,094 Midstream assets — 95,491 — — 95,491 Other property, equipment and land — 71,978 — — 71,978 Accumulated depletion, depreciation, amortization and impairment — (1,811,340 ) (166,467 ) 7,991 (1,969,816 ) Net property and equipment — 5,781,100 720,070 7,577 6,508,747 Derivative instruments — 4,379 — — 4,379 Investment in subsidiaries 2,811,248 — — (2,811,248 ) — Deferred income taxes 321 — — — 321 Other assets — 13,942 35,083 — 49,025 Total assets $ 5,813,720 $ 6,579,612 $ 771,280 $ (6,380,803 ) $ 6,783,809 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable-trade $ 4 $ 27,756 $ 4 $ — $ 27,764 Intercompany payable — 3,577,132 — (3,577,132 ) — Other current liabilities 7,422 286,287 1,693 — 295,402 Total current liabilities 7,426 3,891,175 1,697 (3,577,132 ) 323,166 Long-term debt 986,015 84,000 81,500 — 1,151,515 Asset retirement obligations — 19,539 — — 19,539 Deferred income taxes 2,655 — — — 2,655 Total liabilities 996,096 3,994,714 83,197 (3,577,132 ) 1,496,875 Commitments and contingencies Stockholders’ equity 4,817,624 2,584,898 688,083 (3,272,981 ) 4,817,624 Non-controlling interest — — — 469,310 469,310 Total equity 4,817,624 2,584,898 688,083 (2,803,671 ) 5,286,934 Total liabilities and equity $ 5,813,720 $ 6,579,612 $ 771,280 $ (6,380,803 ) $ 6,783,809 Condensed Consolidated Balance Sheet December 31, 2016 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 1,643,226 $ 14,135 $ 9,213 $ — $ 1,666,574 Restricted cash — — 500 — 500 Accounts receivable — 109,782 10,043 — 119,825 Accounts receivable - related party — 297 3,470 (3,470 ) 297 Intercompany receivable 3,060,566 359,502 — (3,420,068 ) — Inventories — 1,983 — — 1,983 Other current assets 481 2,319 187 — 2,987 Total current assets 4,704,273 488,018 23,413 (3,423,538 ) 1,792,166 Property and equipment: Oil and natural gas properties, at cost, full cost method of accounting — 4,400,002 760,818 (559 ) 5,160,261 Midstream assets — 8,362 — — 8,362 Other property, equipment and land — 58,290 — — 58,290 Accumulated depletion, depreciation, amortization and impairment — (1,695,701 ) (148,948 ) 8,593 (1,836,056 ) Net property and equipment — 2,770,953 611,870 8,034 3,390,857 Funds held in escrow — 121,391 — — 121,391 Derivative instruments — 709 — — 709 Investment in subsidiaries (15,500 ) — — 15,500 — Other assets — 9,291 35,266 — 44,557 Total assets $ 4,688,773 $ 3,390,362 $ 670,549 $ (3,400,004 ) $ 5,349,680 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable-trade $ 30 $ 45,838 $ 1,780 $ — $ 47,648 Accounts payable-related party 1 — — — 1 Intercompany payable — 3,423,538 — (3,423,538 ) — Other current liabilities 5,868 155,454 371 — 161,693 Total current liabilities 5,899 3,624,830 2,151 (3,423,538 ) 209,342 Long-term debt 985,412 — 120,500 — 1,105,912 Asset retirement obligations — 16,134 — — 16,134 Total liabilities 991,311 3,640,964 122,651 (3,423,538 ) 1,331,388 Commitments and contingencies Stockholders’ equity 3,697,462 (250,602 ) 547,898 (297,296 ) 3,697,462 Non-controlling interest — — — 320,830 320,830 Total equity 3,697,462 (250,602 ) 547,898 23,534 4,018,292 Total liabilities and equity $ 4,688,773 $ 3,390,362 $ 670,549 $ (3,400,004 ) $ 5,349,680
Condensed Consolidated Statement of Operations	Condensed Consolidated Statement of Operations Three Months Ended June 30, 2017 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Revenues: Oil sales $ — $ 206,113 $ — $ 31,771 $ 237,884 Natural gas sales — 10,739 — 1,954 12,693 Natural gas liquid sales — 14,649 — 2,208 16,857 Royalty income — — 35,933 (35,933 ) — Lease bonus income — — 689 (106 ) 583 Midstream services — 1,417 — — 1,417 Total revenues — 232,918 36,622 (106 ) 269,434 Costs and expenses: Lease operating expenses — 28,989 — — 28,989 Production and ad valorem taxes — 13,106 2,773 — 15,879 Gathering and transportation — 2,871 144 — 3,015 Midstream services — 1,828 — — 1,828 Depreciation, depletion and amortization — 65,091 9,672 410 75,173 General and administrative expenses 6,432 4,521 1,554 (615 ) 11,892 Asset retirement obligation accretion — 350 — — 350 Total costs and expenses 6,432 116,756 14,143 (205 ) 137,126 Income (loss) from operations (6,432 ) 116,162 22,479 99 132,308 Other income (expense) Interest expense (6,325 ) (1,277 ) (643 ) — (8,245 ) Other income — 8,626 313 (615 ) 8,324 Gain on derivative instruments, net — 33,320 — — 33,320 Total other income (expense), net (6,325 ) 40,669 (330 ) (615 ) 33,399 Income (loss) before income taxes (12,757 ) 156,831 22,149 (516 ) 165,707 Provision for income taxes 1,579 — — — 1,579 Net income (loss) (14,336 ) 156,831 22,149 (516 ) 164,128 Net income attributable to non-controlling interest — — — 5,723 5,723 Net income (loss) attributable to Diamondback Energy, Inc. $ (14,336 ) $ 156,831 $ 22,149 $ (6,239 ) $ 158,405 Condensed Consolidated Statement of Operations Three Months Ended June 30, 2016 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Revenues: Oil sales $ — $ 85,812 $ — $ 15,513 $ 101,325 Natural gas sales — 3,571 — 538 4,109 Natural gas liquid sales — 6,264 — 785 7,049 Royalty income — — 16,836 (16,836 ) — Lease bonus income — — 196 (196 ) — Total revenues — 95,647 17,032 (196 ) 112,483 Costs and expenses: Lease operating expenses — 18,677 — — 18,677 Production and ad valorem taxes — 6,756 1,403 — 8,159 Gathering and transportation — 2,341 91 — 2,432 Depreciation, depletion and amortization — 34,107 6,584 (820 ) 39,871 Impairment of oil and natural gas properties — 146,894 21,458 — 168,352 General and administrative expenses 6,067 2,250 1,207 — 9,524 Asset retirement obligation accretion — 254 — — 254 Total costs and expenses 6,067 211,279 30,743 (820 ) 247,269 Income (loss) from operations (6,067 ) (115,632 ) (13,711 ) 624 (134,786 ) Other income (expense) Interest expense (8,844 ) (719 ) (456 ) — (10,019 ) Other income 63 217 147 (250 ) 177 Loss on derivative instruments, net — (12,125 ) — — (12,125 ) Total other expense, net (8,781 ) (12,627 ) (309 ) (250 ) (21,967 ) Income (loss) before income taxes (14,848 ) (128,259 ) (14,020 ) 374 (156,753 ) Provision for income taxes 368 — — — 368 Net income (loss) (15,216 ) (128,259 ) (14,020 ) 374 (157,121 ) Net loss attributable to non-controlling interest — — — (1,631 ) (1,631 ) Net income (loss) attributable to Diamondback Energy, Inc. $ (15,216 ) $ (128,259 ) $ (14,020 ) $ 2,005 $ (155,490 ) Condensed Consolidated Statement of Operations Six Months Ended June 30, 2017 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Revenues: Oil sales $ — $ 384,343 $ — $ 60,615 $ 444,958 Natural gas sales — 19,314 — 3,301 22,615 Natural gas liquid sales — 28,292 — 4,067 32,359 Royalty income — — 67,983 (67,983 ) — Lease bonus income — — 2,291 (106 ) 2,185 Midstream services — 2,547 — — 2,547 Total revenues — 434,496 70,274 (106 ) 504,664 Costs and expenses: Lease operating expenses — 55,615 — — 55,615 Production and ad valorem taxes — 26,761 4,843 — 31,604 Gathering and transportation — 5,347 287 — 5,634 Midstream services — 2,682 — — 2,682 Depreciation, depletion and amortization — 115,982 17,519 601 134,102 General and administrative expenses 13,540 9,630 3,696 (1,230 ) 25,636 Asset retirement obligation accretion — 673 — — 673 Total costs and expenses 13,540 216,690 26,345 (629 ) 255,946 Income (loss) from operations (13,540 ) 217,806 43,929 523 248,718 Other income (expense) Interest expense (17,133 ) (2,082 ) (1,255 ) — (20,470 ) Other income 1,092 9,480 127 (1,230 ) 9,469 Gain on derivative instruments, net — 71,021 — — 71,021 Total other income (expense), net (16,041 ) 78,419 (1,128 ) (1,230 ) 60,020 Income (loss) before income taxes (29,581 ) 296,225 42,801 (707 ) 308,738 Provision for income taxes 3,536 — — — 3,536 Net income (loss) (33,117 ) 296,225 42,801 (707 ) 305,202 Net income attributable to non-controlling interest — — — 10,524 10,524 Net income (loss) attributable to Diamondback Energy, Inc. $ (33,117 ) $ 296,225 $ 42,801 $ (11,231 ) $ 294,678 Condensed Consolidated Statement of Operations Six Months Ended June 30, 2016 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Revenues: Oil sales $ — $ 151,907 $ — $ 28,438 $ 180,345 Natural gas sales — 6,980 — 1,151 8,131 Natural gas liquid sales — 10,155 — 1,333 11,488 Royalty income — — 30,922 (30,922 ) — Lease bonus income — — 304 (304 ) — Total revenues — 169,042 31,226 (304 ) 199,964 Costs and expenses: Lease operating expenses — 36,900 — — 36,900 Production and ad valorem taxes — 13,416 2,705 — 16,121 Gathering and transportation — 5,042 177 2 5,221 Depreciation, depletion and amortization — 69,235 14,734 (2,029 ) 81,940 Impairment of oil and natural gas properties — 151,699 47,469 — 199,168 General and administrative expenses 14,374 5,173 2,956 — 22,503 Asset retirement obligation accretion — 500 — — 500 Total costs and expenses 14,374 281,965 68,041 (2,027 ) 362,353 Income (loss) from operations (14,374 ) (112,923 ) (36,815 ) 1,723 (162,389 ) Other income (expense) Interest expense (17,702 ) (1,444 ) (886 ) — (20,032 ) Other income 120 524 346 (250 ) 740 Loss on derivative instruments, net — (10,699 ) — — (10,699 ) Total other expense, net (17,582 ) (11,619 ) (540 ) (250 ) (29,991 ) Income (loss) before income taxes (31,956 ) (124,542 ) (37,355 ) 1,473 (192,380 ) Provision for income taxes 368 — — — 368 Net income (loss) (32,324 ) (124,542 ) (37,355 ) 1,473 (192,748 ) Net loss attributable to non-controlling interest — — — (4,346 ) (4,346 ) Net income (loss) attributable to Diamondback Energy, Inc. $ (32,324 ) $ (124,542 ) $ (37,355 ) $ 5,819 $ (188,402 )
Condensed Consolidated Statement of Cash Flows	Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2017 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ (25,139 ) $ 358,123 $ 61,447 $ — $ 394,431 Cash flows from investing activities: Additions to oil and natural gas properties — (291,767 ) — — (291,767 ) Additions to midstream assets — (4,444 ) — — (4,444 ) Purchase of other property and equipment — (13,825 ) — — (13,825 ) Acquisition of leasehold interests — (1,860,980 ) — — (1,860,980 ) Acquisition of mineral interests — — (122,679 ) — (122,679 ) Acquisition of midstream assets — (50,279 ) — — (50,279 ) Proceeds from sale of assets — 1,295 — — 1,295 Funds held in escrow — 121,391 — — 121,391 Equity investments — (188 ) — — (188 ) Intercompany transfers (1,657,407 ) 1,657,407 — — — Net cash used in investing activities (1,657,407 ) (441,390 ) (122,679 ) — (2,221,476 ) Cash flows from financing activities: Proceeds from borrowing on credit facility — 162,000 104,000 — 266,000 Repayment on credit facility — (78,000 ) (143,000 ) — (221,000 ) Debt issuance costs (635 ) (790 ) (180 ) — (1,605 ) Public offering costs (79 ) — (217 ) — (296 ) Proceeds from public offerings — — 147,725 — 147,725 Distribution from subsidiary 40,572 — — (40,572 ) — Exercise of stock options 358 — — — 358 Distribution to non-controlling interest — — (54,695 ) 40,572 (14,123 ) Net cash provided by financing activities 40,216 83,210 53,633 — 177,059 Net decrease in cash and cash equivalents (1,642,330 ) (57 ) (7,599 ) — (1,649,986 ) Cash and cash equivalents at beginning of period 1,643,226 14,135 9,213 — 1,666,574 Cash and cash equivalents at end of period $ 896 $ 14,078 $ 1,614 $ — $ 16,588 Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2016 (In thousands) Non– Guarantor Guarantor Parent Subsidiaries Subsidiaries Eliminations Consolidated Net cash provided by (used in) operating activities $ (18,829 ) $ 110,609 $ 30,001 $ — $ 121,781 Cash flows from investing activities: Additions to oil and natural gas properties — (149,661 ) — — (149,661 ) Purchase of other property and equipment — (1,224 ) — — (1,224 ) Acquisition of leasehold interests — (17,533 ) — — (17,533 ) Acquisition of mineral interests — — (11,319 ) — (11,319 ) Proceeds from sale of assets — 161 — — 161 Equity investments — (800 ) — — (800 ) Intercompany transfers (60,712 ) 60,712 — — — Net cash used in investing activities (60,712 ) (108,345 ) (11,319 ) — (180,376 ) Cash flows from financing activities: Proceeds from borrowing on credit facility — — 17,000 — 17,000 Repayment on credit facility — (11,000 ) — — (11,000 ) Debt issuance costs — (46 ) (20 ) — (66 ) Public offering costs (179 ) — — — (179 ) Proceeds from public offerings 254,518 — — — 254,518 Distribution from subsidiary 26,560 — — (26,560 ) — Exercise of stock options 498 — — — 498 Distribution to non-controlling interest — — (30,057 ) 26,560 (3,497 ) Intercompany transfers (11,000 ) 11,000 — — — Net cash provided by (used in) financing activities 270,397 (46 ) (13,077 ) — 257,274 Net increase in cash and cash equivalents 190,856 2,218 5,605 — 198,679 Cash and cash equivalents at beginning of period 148 19,428 539 — 20,115 Cash and cash equivalents at end of period $ 191,004 $ 21,646 $ 6,144 $ — $ 218,794

Description of the Business a36

Description of the Business and Basis of Presentation (Details)	Jun. 30, 2017
Viper Energy Partners LP [Member]
Noncontrolling Interest [Line Items]
Interest in Viper Energy Partners LP (percentage)	74.00%

Acquisitions (Details)

Acquisitions (Details) $ / shares in Units, shares in Thousands, $ in Thousands	Feb. 28, 2017USD ($)ashares	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares
Business Acquisition [Line Items]
Acquisition of leasehold interests					$ 1,860,980	$ 17,533
Acquisition of midstream assets					4,444	0
Oil and Gas Revenue		$ 269,434	$ 112,483		504,664	199,964
Business Acquisition, Pro Forma Revenue			135,752		527,593	238,416
Operating Income (Loss)		132,308	(134,786)		248,718	(162,389)
Business Acquisition, Pro Forma Income (Loss) from Operations			(119,254)		263,060	(143,257)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		$ 164,128	(157,121)		305,202	(192,748)
Business Acquisition, Pro Forma Net Income (Loss)			$ (139,958)		$ 310,414	$ (169,270)
Basic (in dollars per share) | $ / shares		$ 1.61	$ (2.17)		$ 3.08	$ (2.64)
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares			(1.95)		3.24	(2.37)
Diluted (in dollars per share) | $ / shares		$ 1.61	(2.17)		3.07	(2.64)
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares			$ (1.95)		$ 3.24	$ (2.37)
Delaware Basin Interests [Member]
Business Acquisition [Line Items]
Payments to acquire leasehold interests and related assets	$ 1,740,000
Number of shares issued to acquire leasehold interests and related assets | shares	7,690
Shares Held in Escrow | shares	1,150
Gross acres acquired | a	100,306
Net acres acquired | a	80,339
Acquisition of leasehold interests	$ 2,500,000
Acquisition of midstream assets	$ 47,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Proved Oil and Gas Properties		$ 387,571		$ 387,571	$ 387,571
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Unevaluated Oil and Natural Gas Properties		2,122,415		2,122,415	2,122,415
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Midstream Assets		47,554		47,554	47,554
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Prepaid Costs		3,460		3,460	3,460
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Oil Inventory		839		839	839
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Revenues Payable		(8,723)		(8,723)	(8,723)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Asset Retirement Obligation		(1,550)		(1,550)	(1,550)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 2,551,566		2,551,566	$ 2,551,566
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				48,000
Business Combination, Pro Forma Information, Direct Operating Expenses since Acquisition Date, Actual				$ 6,900

Viper Energy Partners LP (Detai

Viper Energy Partners LP (Details)	Jun. 30, 2017
Viper Energy Partners LP [Member]
Noncontrolling Interest [Line Items]
Interest in Viper Energy Partners LP (percentage)	74.00%

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Oil and natural gas properties:
Not subject to depletion	$ 4,008,388		$ 4,008,388		$ 1,730,519
Gross oil and natural gas properties	8,311,094		8,311,094		5,160,261
Midstream assets	95,491		95,491		8,362
Other property, equipment and land	71,978		71,978		58,290
Accumulated depletion and depreciation	(1,969,816)		(1,969,816)		(1,836,056)
Net property and equipment	6,508,747		6,508,747		3,390,857
Capitalized internal costs	5,079	$ 4,100	10,215	$ 9,124
Impairment of oil and natural gas properties	0	$ 168,352	0	$ 199,168
Exploration costs or development costs not subject to depletion	6,819		6,819		0
Capitalized interest not subject to depletion	8,660		$ 8,660		0
Minimum [Member]
Oil and natural gas properties:
Timing of inclusion of costs in amortization calculation			3 years
Maximum [Member]
Oil and natural gas properties:
Timing of inclusion of costs in amortization calculation			5 years
Oil and Gas Properties [Member]
Oil and natural gas properties:
Subject to depletion	4,302,706		$ 4,302,706		3,429,742
Not subject to depletion	4,008,388		4,008,388		1,730,519
Gross oil and natural gas properties	8,311,094		8,311,094		5,160,261
Accumulated impairment	(1,143,498)		(1,143,498)		(1,143,498)
Oil and natural gas properties, net	6,347,626		6,347,626		3,329,078
Accumulated depletion and depreciation	(819,970)		(819,970)		(687,685)
Balance of acquisition costs not subject to depletion			2,359,070		784,212	$ 343,744	$ 429,866	$ 37,439	$ 54,057
Other Property and Equipment, Net [Member]
Oil and natural gas properties:
Other property, equipment and land	71,978		71,978		58,290
Accumulated depletion and depreciation	$ (6,348)		$ (6,348)		$ (4,873)

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Changes in ARO liability
Asset retirement obligations, beginning of period			$ 17,422	$ 12,711
Additional liabilities incurred			990	250
Liabilities acquired			2,180	803
Liabilities settled			(149)	(369)
Accretion expense	$ 350	$ 254	673	500
Revisions in estimated liabilities			(2)	88
Asset retirement obligations, end of period	21,114	13,983	21,114	13,983
Less current portion	1,575	196	1,575	196
Asset retirement obligations - long-term	$ 19,539	$ 13,787	$ 19,539	$ 13,787	$ 16,134

Equity Method Investments (Deta

Equity Method Investments (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Oct. 31, 2014	Jun. 30, 2017	Jun. 30, 2016
Schedule of Equity Method Investments [Line Items]
Equity investments		$ 188	$ 800
HMW Fluid Management LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity investments	$ 600	188	800
Equity Method Investment, Ownership Percentage	25.00%
Equity Method Investments		$ 6,694	$ 4,146

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Dec. 20, 2016	Oct. 28, 2016
Debt Instrument [Line Items]
Long-term Debt	$ 1,151,515	$ 1,105,912
Debt Issuance Cost	(13,985)	(14,588)
Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 500,000	$ 500,000
Stated interest rate (percentage)	4.75%	4.75%		4.75%
Senior Unsecured Notes due 2025 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 500,000	$ 500,000
Stated interest rate (percentage)	5.375%	5.375%	5.375%
Company Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 84,000	$ 0
Partnership Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 81,500	$ 120,500

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Dec. 20, 2016	Oct. 28, 2016
Senior Unsecured Notes due 2024 [Member]
Debt Instrument [Line Items]
Aggregate principal amount				$ 500
Stated interest rate (percentage)	4.75%	4.75%		4.75%
Debt Instrument, Redemption Price, Percentage	100.00%
Senior Unsecured Notes due 2024 [Member] | Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	103.563%
Debt Instrument, Redemption Period, Start Date	Nov. 1, 2019
Debt Instrument, Redemption Period, End Date	Oct. 31, 2020
Senior Unsecured Notes due 2024 [Member] | Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	102.375%
Debt Instrument, Redemption Period, Start Date	Nov. 1, 2020
Debt Instrument, Redemption Period, End Date	Oct. 31, 2021
Senior Unsecured Notes due 2024 [Member] | Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	101.188%
Debt Instrument, Redemption Period, Start Date	Nov. 1, 2021
Debt Instrument, Redemption Period, End Date	Oct. 31, 2022
Senior Unsecured Notes due 2024 [Member] | Debt Instrument, Redemption, Period Four [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Instrument, Redemption Period, Start Date	Nov. 1, 2022
Senior Unsecured Notes due 2024 [Member] | Debt Instrument, Redemption, Period Five [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	104.75%
Debt Instrument, Redemption Period, Start Date	Oct. 28, 2016
Debt Instrument, Redemption Period, End Date	Oct. 31, 2019
Senior Unsecured Notes due 2025 [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 500
Stated interest rate (percentage)	5.375%	5.375%	5.375%
Debt Instrument, Redemption Price, Percentage	100.00%
Senior Unsecured Notes due 2025 [Member] | Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	104.031%
Debt Instrument, Redemption Period, Start Date	May 31, 2020
Debt Instrument, Redemption Period, End Date	May 30, 2021
Senior Unsecured Notes due 2025 [Member] | Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	102.688%
Debt Instrument, Redemption Period, Start Date	May 31, 2021
Debt Instrument, Redemption Period, End Date	May 30, 2022
Senior Unsecured Notes due 2025 [Member] | Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	101.344%
Debt Instrument, Redemption Period, Start Date	May 31, 2022
Debt Instrument, Redemption Period, End Date	May 30, 2023
Senior Unsecured Notes due 2025 [Member] | Debt Instrument, Redemption, Period Four [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Instrument, Redemption Period, Start Date	May 31, 2023
Senior Unsecured Notes due 2025 [Member] | Debt Instrument, Redemption, Period Five [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	105.375%
Debt Instrument, Redemption Period, Start Date	Dec. 20, 2016
Debt Instrument, Redemption Period, End Date	May 30, 2020
Maximum [Member] | Senior Unsecured Notes due 2024 [Member] | Debt Instrument, Redemption, Period Five [Member]
Debt Instrument [Line Items]
Debt Instrument Percentage Eligible for Redemption	35.00%
Maximum [Member] | Senior Unsecured Notes due 2025 [Member] | Debt Instrument, Redemption, Period Five [Member]
Debt Instrument [Line Items]
Debt Instrument Percentage Eligible for Redemption	35.00%

Debt - Credit Facility - Wells

Debt - Credit Facility - Wells Fargo Bank (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)redetermindation	Dec. 31, 2016USD ($)
Company Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 2,000,000
Number of additional redeterminations that may be requested | redetermindation	3
Period of redeterminations (in months)	12 months
Current borrowing base	$ 1,500,000
Elected borrowing base	750,000
Financial covenant, maximum issuance of unsecured debt	$ 1,000,000
Financial covenant, reduction of borrowing base (percentage)	25.00%
Long-term Debt, Gross	$ 84,000	$ 0
Company Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Quarterly commitment fee percentage based on unused portion of borrowing base	0.375%
Company Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Quarterly commitment fee percentage based on unused portion of borrowing base	0.50%
Company Credit Facility [Member] | Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	0.50%
Company Credit Facility [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	1.00%
Company Credit Facility [Member] | LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	1.50%
Company Credit Facility [Member] | LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	2.50%
Company Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	0.50%
Company Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	1.50%
Senior Notes [Member]
Line of Credit Facility [Line Items]
Long-term Debt, Gross	$ 1,000,000

Debt - Partnership Credit Facil

Debt - Partnership Credit Facility - Wells Fargo Bank (Details) - Partnership Credit Facility [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)redetermindation	Dec. 31, 2016USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 500,000
Number of additional redeterminations that may be requested | redetermindation	3
Period of redeterminations (in months)	12 months
Current borrowing base	$ 315,000
Long-term Debt, Gross	81,500	$ 120,500
Financial covenant, maximum issuance of unsecured debt	$ 250,000
Financial covenant, reduction of borrowing base (percentage)	25.00%
Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	0.50%
LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	1.00%
Minimum [Member]
Line of Credit Facility [Line Items]
Quarterly commitment fee percentage based on unused portion of borrowing base	0.375%
Minimum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	2.00%
Minimum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	1.00%
Maximum [Member]
Line of Credit Facility [Line Items]
Quarterly commitment fee percentage based on unused portion of borrowing base	0.50%
Maximum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	3.00%
Maximum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (percentage)	2.00%

Debt - Financial Covenant Table

Debt - Financial Covenant Table (Details)	Jun. 30, 2017
Company Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Ratio of total debt to EBITDAX	4
Company Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Ratio of current assets to liabilities, as defined in the credit agreement	1
Partnership Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Ratio of total debt to EBITDAX	4
Partnership Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Ratio of current assets to liabilities, as defined in the credit agreement	1

Capital Stock and Earnings Pe47

Capital Stock and Earnings Per Share - Capital Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		6 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jun. 30, 2017	Jun. 30, 2016
Class of Stock [Line Items]
Repayments of Lines of Credit			$ 221,000	$ 11,000
Partnership Credit Facility [Member]
Class of Stock [Line Items]
Repayments of Lines of Credit	$ 120,500
Follow-on Public Offering [Member]
Class of Stock [Line Items]
Shares issued upon public offering		4,600,000
Stock price per share at public offering (in dollars per share)		$ 55.33
Sale of Stock, Consideration Received on Transaction		$ 254,500
Follow-on Public Offering [Member] | Viper Energy Partners LP [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	9,775,000
Sale of Stock, Consideration Received on Transaction	$ 147,600
Over-Allotment Option [Member]
Class of Stock [Line Items]
Shares issued upon public offering		600,000
Over-Allotment Option [Member] | Viper Energy Partners LP [Member]
Class of Stock [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	1,275,000

Capital Stock and Earnings Pe48

Capital Stock and Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Basic:
Net income (loss) attributable to common stock	$ 158,405	$ (155,490)	$ 294,678	$ (188,402)
Basic weighted average common units outstanding	98,142,000	71,719,000	95,665,000	71,372,000
Basic net income (loss) attributable to common stock	$ 1.61	$ (2.17)	$ 3.08	$ (2.64)
Effect of Dilutive Securities:
Dilutive effect of potential common shares issuable (in shares)	212,000	0	260,000	0
Diluted:
Diluted weighted average common shares outstanding	98,354,000	71,719,000	95,925,000	71,372,000
Diluted net income (loss) attributable to common stock	$ 1.61	$ (2.17)	$ 3.07	$ (2.64)
Antidilutive securities excluded from earnings per share (in shares)	64,411	25,591	0	174,279

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Stock-Based Compensation Plans and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation capitalized pursuant to full cost method of accounting for oil and natural gas properties	$ 1,901	$ 1,845	$ 4,244	$ 4,609
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
General and administrative expenses	$ 6,168	$ 6,029	$ 13,231	$ 14,378

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock/Unit Option Activity (Details) - Equity Plan [Member] - Stock/Unit Options [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Number of Options (in shares)
Outstanding at December 31, 2016	15,750
Exercised	(15,750)
Outstanding at June 30, 2017	0
Weighted Average Exercise Price (in dollars per share)
Outstanding at December 31, 2016	$ 22.72
Exercised	22.72
Outstanding at June 30, 2017	$ 0
Outstanding, period end, remaining term (in years)	0 years
Outstanding, period end, intrinsic value	$ 0
Options exercised, intrinsic value	$ 1,200	$ 1,300

Equity-Based Compensation - Res

Equity-Based Compensation - Restricted Stock Units (Details) - Equity Plan [Member] - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Awards & Units (in shares)
Unvested at December 31, 2016	206,004
Granted	87,641
Vested	(109,528)
Forfeited	(759)
Unvested at June 30, 2017	183,358
Weighted Average Grant-Date Fair Value (in dollars per share)
Unvested at December 31, 2016	$ 70.33
Granted	107.97
Vested	75.44
Forfeited	85.15
Unvested at June 30, 2017	$ 85.21
Aggregate fair value of share-based awards that vested	$ 11.4	$ 8.2
Unrecognized compensation cost related to unvested awards	$ 10.5
Unrecognized compensation cost, period of recognition (in years)	1 year 6 months

Equity-Based Compensation - Per

Equity-Based Compensation - Performance Restricted Stock Activity (Details) - Equity Plan [Member] - Performance Shares [Member] - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	6 Months Ended
		Feb. 28, 2017	Jun. 30, 2017
Awards & Units (in shares)
Unvested at December 31, 2016			252,471
Granted			118,169
Unvested at June 30, 2017	[1]		370,640
Weighted Average Grant-Date Fair Value (in dollars per share)
Unvested at December 31, 2016			$ 103.06
Granted			166.53
Unvested at June 30, 2017			$ 123.29
Share Based Compensation Arrangement by Share Based Payment Maximum Award Potential			741,280
Unrecognized compensation cost related to unvested awards			$ 25.6
Unrecognized compensation cost, period of recognition (in years)			1 year 9 months 11 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to be awarded, percent of initial awards received		0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized to be awarded, percent of initial awards received		200.00%
Two-Year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares, performance period		2 years
Awards & Units (in shares)
Granted		37,440
Weighted Average Grant-Date Fair Value (in dollars per share)
Granted		$ 162.13
Three-Year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares, performance period		3 years
Awards & Units (in shares)
Granted		74,880
Weighted Average Grant-Date Fair Value (in dollars per share)
Granted		$ 168.73
[1]	A maximum of 741,280 units could be awarded based upon the Company’s final TSR ranking.

Equity-Based Compensation - Val

Equity-Based Compensation - Valuation Assumptions (Details) - Equity Plan [Member] - Performance Shares [Member] - $ / shares	1 Months Ended	6 Months Ended
	Feb. 28, 2017	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		$ 166.53
Two-Year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	$ 162.13
Risk-free rate (percentage)	1.27%
Company volatility (percentage)	39.32%
Three-Year [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	$ 168.73
Risk-free rate (percentage)	1.59%
Company volatility (percentage)	41.14%

Equity-Based Compensation - Pha

Equity-Based Compensation - Phantom Units (Details) - Viper Energy Partners LP Long Term Incentive Plan [Member] - Phantom Share Units (PSUs) [Member] $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Awards & Units (in shares)
Unvested at December 31, 2016 | shares	21,048
Granted | shares	3,126
Vested | shares	(13,816)
Unvested at June 30, 2017 | shares	10,358
Weighted Average Grant-Date Fair Value (in dollars per share)
Unvested at December 31, 2016 | $ / shares	$ 16.23
Granted | $ / shares	17.49
Vested | $ / shares	16.05
Unvested at June 30, 2017 | $ / shares	$ 16.85
Aggregate fair value of share-based awards that vested | $	$ 0.2
Unrecognized compensation cost related to unvested awards | $	$ 0.2
Unrecognized compensation cost, period of recognition (in years)	1 year 3 months 15 days

Related Party Transactions - Re

Related Party Transactions - Related Party Transactions (Details)	Jun. 23, 2014USD ($)	Oct. 11, 2012USD ($)	May 15, 2011	Nov. 30, 2014	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016	Oct. 17, 2012
Related Party Transaction [Line Items]
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party						$ 561,000		$ 1,003,000
Related Party Other Income								96,000
Operating Leases [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party						1,324,000		1,590,000
Bison Drilling and Field Services LLC [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties								96,000
Wexford [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Affiliate Beneficial Ownership, Outstanding Common Stock, Percentage										44.00%
Wexford [Member] | Advisory Services Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Annual Fee for Advisory Services with Related Party		$ 500,000
Related Party Transaction, Original Term for Advisory Services with Related Party		2 years
Related Party Transaction, Renewal Term for Advisory Services with Related Party		1 year
Related Party Transaction, Minimum Period for Cancellation of Renewal Term		10 days
Payments for Operating Activities						125,000		250,000
Viper Energy Partners LP [Member]
Related Party Transaction [Line Items]
Payments for Operating Activities					$ 104,000	196,000	$ 106,000	$ 304,000
Number of leases extended							2	4
Average price per acre							$ 7,459	$ 1,519
Viper Energy Partners LP [Member] | Wexford [Member] | Advisory Services Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Annual Fee for Advisory Services with Related Party	$ 500,000
Related Party Transaction, Original Term for Advisory Services with Related Party	2 years
Related Party Transaction, Renewal Term for Advisory Services with Related Party	1 year
Related Party Transaction, Minimum Period for Cancellation of Renewal Term	10 days
Payments for Operating Activities					$ 0	0	$ 0	0
Maximum [Member]
Related Party Transaction [Line Items]
Related Party Other Income						54,000
Maximum [Member] | Bison Drilling and Field Services LLC [Member]
Related Party Transaction [Line Items]
Revenue from Related Parties						54,000
Maximum [Member] | Wexford [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Affiliate Beneficial Ownership, Outstanding Common Stock, Percentage									1.00%
Maximum [Member] | WT Commercial Portfolio, LLC [Member]
Related Party Transaction [Line Items]
Payments for Operating Activities						50,000		84,000
Corporate Office Space [Member] | Fasken [Member]
Related Party Transaction [Line Items]
Payments for Operating Activities						$ 352,000		$ 701,000
Operating Lease, Term of Lease, Related Party			5 years	10 years

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate	1.10%	0.20%
Decrease in Valuation Allowances	$ 56.8
Valuation Allowance	$ 30.2

Derivatives - Open Derivative P

Derivatives - Open Derivative Positions (Details)	6 Months Ended
	Jun. 30, 2017MMBTU$ / bbl$ / MMBTUbbl
Oil Swaps 2017 [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	2,576,000
Fixed Swap Price (in dollars per bbl) | $ / bbl	53.40
Oil Swaps 2018 [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	4,919,000
Fixed Swap Price (in dollars per bbl) | $ / bbl	51.30
Oil Swaps 2019 [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	730,000
Fixed Swap Price (in dollars per bbl) | $ / bbl	49.65
Oil Basis Swaps 2017 [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	4,416,000
Fixed Swap Price (in dollars per bbl) | $ / bbl	(0.72)
Oil Basis Swaps 2018 [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	5,475,000
Fixed Swap Price (in dollars per bbl) | $ / bbl	(0.88)
Oil Basis Swaps 2019 [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	0
Fixed Swap Price (in dollars per bbl) | $ / bbl	0
Natural Gas Swaps 2017 [Member]
Derivative [Line Items]
Volume (MMBtu) | MMBTU	5,520,000
Fixed Swap Price (in dollars per bbl) | $ / MMBTU	3.25
Natural Gas Swaps 2018 [Member]
Derivative [Line Items]
Volume (MMBtu) | MMBTU	5,000,000
Fixed Swap Price (in dollars per bbl) | $ / MMBTU	3.21
Natural Gas Swaps 2019 [Member]
Derivative [Line Items]
Volume (MMBtu) | MMBTU	0
Fixed Swap Price (in dollars per bbl) | $ / MMBTU	0
Costless Collars 2017 [Member]
Derivative [Line Items]
Derivative, Floor Price | $ / bbl	47.12
Derivative, Ceiling Price | $ / bbl	56.45
Costless Collars 2017 [Member] | Minimum [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	3,128,000
Costless Collars 2017 [Member] | Maximum [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	1,564,000
Costless Collars 2018 [Member]
Derivative [Line Items]
Derivative, Floor Price | $ / bbl	47
Derivative, Ceiling Price | $ / bbl	56.34
Costless Collars 2018 [Member] | Minimum [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	540,000
Costless Collars 2018 [Member] | Maximum [Member]
Derivative [Line Items]
Volume (Bbls) | bbl	270,000

Derivatives - Offsetting Deriva

Derivatives - Offsetting Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross amounts of assets presented in the Consolidated Balance Sheet	$ 46,111	$ 709
Net amounts of assets presented in the Consolidated Balance Sheet	46,111	709
Gross amounts of liabilities presented in the Consolidated Balance Sheet	0	22,608
Net amounts of liabilities presented in the Consolidated Balance Sheet	$ 0	$ 22,608

Derivatives - Balance Sheet Loc

Derivatives - Balance Sheet Location (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Current assets: derivative instruments	$ 41,732	$ 0
Noncurrent assets: derivative instruments	4,379	709
Total assets	46,111	709
Current liabilities: derivative instruments	0	22,608
Total liabilities	$ 0	$ 22,608

Derivatives - Gains and Losses

Derivatives - Gains and Losses on Derivative Instruments Included in Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Change in fair value of open non-hedge derivative instruments	$ 28,635	$ (11,592)	$ 68,010	$ (15,283)
Gain (loss) on settlement of non-hedge derivative instruments	4,685	(533)	3,011	4,584
Gain (loss) on derivative instruments	$ 33,320	$ (12,125)	$ 71,021	$ (10,699)

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Measurements (Details) - Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Fixed price swaps	$ 46,111	$ 23,317
Fair Value, Inputs, Level 1 [Member]
Assets:
Fixed price swaps	0	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Fixed price swaps	46,111	23,317
Significant Unobservable Inputs Level 3 [Member]
Assets:
Fixed price swaps	$ 0	$ 0

Fair Value Measurements - Nonre

Fair Value Measurements - Nonrecurring Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Dec. 20, 2016	Oct. 28, 2016
Senior Unsecured Notes due 2024 [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Stated interest rate (percentage)	4.75%	4.75%		4.75%
Senior Unsecured Notes due 2025 [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Stated interest rate (percentage)	5.375%	5.375%	5.375%
Reported Value Measurement [Member] | Company Credit Facility [Member] | Nonrecurring [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Revolving credit facility	$ 84,000	$ 0
Reported Value Measurement [Member] | Senior Unsecured Notes due 2024 [Member] | Nonrecurring [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Senior Notes	500,000	500,000
Reported Value Measurement [Member] | Senior Unsecured Notes due 2025 [Member] | Nonrecurring [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Senior Notes	500,000	500,000
Reported Value Measurement [Member] | Partnership Credit Facility [Member] | Nonrecurring [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Revolving credit facility	81,500	120,500
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Senior Unsecured Notes due 2024 [Member] | Nonrecurring [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Senior Notes	498,750	491,250
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Senior Unsecured Notes due 2025 [Member] | Nonrecurring [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Senior Notes	511,250	502,850
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Company Credit Facility [Member] | Nonrecurring [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Revolving credit facility	84,000	0
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Partnership Credit Facility [Member] | Nonrecurring [Member]
Fair value of assets and liabilities measured on a recurring and nonrecurring basis
Revolving credit facility	$ 81,500	$ 120,500

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	1 Months Ended			6 Months Ended
	Jul. 28, 2017USD ($)$ / bblsharesbbl	Jan. 31, 2017USD ($)shares	Jan. 31, 2016USD ($)	Jun. 30, 2017USD ($)$ / bblbbl	Jun. 30, 2016USD ($)
Subsequent Event [Line Items]
Repayments of Lines of Credit | $				$ 221,000	$ 11,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Interest in Viper Energy Partners LP (percentage)	64.00%
Viper Energy Partners LP [Member]
Subsequent Event [Line Items]
Interest in Viper Energy Partners LP (percentage)				74.00%
Partnership Credit Facility [Member]
Subsequent Event [Line Items]
Repayments of Lines of Credit | $		$ 120,500
Partnership Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Repayments of Lines of Credit | $	$ 152,800
Follow-on Public Offering [Member]
Subsequent Event [Line Items]
Sale of Stock, Consideration Received on Transaction | $			$ 254,500
Follow-on Public Offering [Member] | Viper Energy Partners LP [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction		9,775,000
Sale of Stock, Consideration Received on Transaction | $		$ 147,600
Follow-on Public Offering [Member] | Viper Energy Partners LP [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	16,100,000
Sale of Stock, Consideration Received on Transaction | $	$ 232,600
Over-Allotment Option [Member] | Viper Energy Partners LP [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction		1,275,000
Over-Allotment Option [Member] | Viper Energy Partners LP [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	2,100,000
Diamondback Energy, Inc. [Member] | Over-Allotment Option [Member] | Viper Energy Partners LP [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	700,000
Affiliated Entity [Member] | Over-Allotment Option [Member] | Viper Energy Partners LP [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	3,000,000
Executive Officer [Member] | Over-Allotment Option [Member] | Viper Energy Partners LP [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	114,000
Oil Swaps 2018 [Member]
Subsequent Event [Line Items]
Volume (Bbls) | bbl				4,919,000
Fixed Swap Price (in dollars per bbl) | $ / bbl				51.30
Oil Swaps 2018 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Volume (Bbls) | bbl	2,920,000
Fixed Swap Price (in dollars per bbl) | $ / bbl	48.92
Oil Swaps 2019 [Member]
Subsequent Event [Line Items]
Volume (Bbls) | bbl				730,000
Fixed Swap Price (in dollars per bbl) | $ / bbl				49.65
Oil Swaps 2019 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Volume (Bbls) | bbl	730,000
Fixed Swap Price (in dollars per bbl) | $ / bbl	49.65

Guarantor Financial Statement64

Guarantor Financial Statements - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 16,588	$ 1,666,574	$ 218,794	$ 20,115
Restricted cash	0	500
Accounts receivable	154,627	119,825
Accounts receivable - related party	8	297
Intercompany receivable	0	0
Inventories	4,925	1,983
Other current assets	45,189	2,987
Total current assets	221,337	1,792,166
Property and equipment:
Oil and natural gas properties, at cost, based on the full cost method of accounting	8,311,094	5,160,261
Midstream assets	95,491	8,362
Other property, equipment and land	71,978	58,290
Accumulated depletion, depreciation, amortization and impairment	(1,969,816)	(1,836,056)
Net property and equipment	6,508,747	3,390,857
Funds held in escrow	0	121,391
Derivative instruments	4,379	709
Investment in subsidiaries	0	0
Deferred income taxes	321	0
Other assets	49,025	44,557
Total assets	6,783,809	5,349,680
Current liabilities:
Accounts payable-trade	27,764	47,648
Accounts payable-related party	0	1
Intercompany payable	0	0
Other current liabilities	295,402	161,693
Total current liabilities	323,166	209,342
Long-term debt	1,151,515	1,105,912
Asset retirement obligations	19,539	16,134	13,787
Deferred income taxes	2,655	0
Total liabilities	1,496,875	1,331,388
Commitments and contingencies
Stockholders’ equity	4,817,624	3,697,462
Non-controlling interest	469,310	320,830
Total equity	5,286,934	4,018,292	2,186,552	2,108,973
Total liabilities and equity	6,783,809	5,349,680
Eliminations [Member]
Current assets:
Cash and cash equivalents	0	0	0	0
Restricted cash		0
Accounts receivable	0	0
Accounts receivable - related party	(3,224)	(3,470)
Intercompany receivable	(3,573,908)	(3,420,068)
Inventories	0	0
Other current assets	0	0
Total current assets	(3,577,132)	(3,423,538)
Property and equipment:
Oil and natural gas properties, at cost, based on the full cost method of accounting	(414)	(559)
Midstream assets	0	0
Other property, equipment and land	0	0
Accumulated depletion, depreciation, amortization and impairment	7,991	8,593
Net property and equipment	7,577	8,034
Funds held in escrow		0
Derivative instruments	0	0
Investment in subsidiaries	(2,811,248)	15,500
Deferred income taxes	0
Other assets	0	0
Total assets	(6,380,803)	(3,400,004)
Current liabilities:
Accounts payable-trade	0	0
Accounts payable-related party		0
Intercompany payable	(3,577,132)	(3,423,538)
Other current liabilities	0	0
Total current liabilities	(3,577,132)	(3,423,538)
Long-term debt	0	0
Asset retirement obligations	0	0
Deferred income taxes	0
Total liabilities	(3,577,132)	(3,423,538)
Commitments and contingencies
Stockholders’ equity	(3,272,981)	(297,296)
Non-controlling interest	469,310	320,830
Total equity	(2,803,671)	23,534
Total liabilities and equity	(6,380,803)	(3,400,004)
Parent Company [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents	896	1,643,226	191,004	148
Restricted cash		0
Accounts receivable	0	0
Accounts receivable - related party	0	0
Intercompany receivable	3,000,954	3,060,566
Inventories	0	0
Other current assets	301	481
Total current assets	3,002,151	4,704,273
Property and equipment:
Oil and natural gas properties, at cost, based on the full cost method of accounting	0	0
Midstream assets	0	0
Other property, equipment and land	0	0
Accumulated depletion, depreciation, amortization and impairment	0	0
Net property and equipment	0	0
Funds held in escrow		0
Derivative instruments	0	0
Investment in subsidiaries	2,811,248	(15,500)
Deferred income taxes	321
Other assets	0	0
Total assets	5,813,720	4,688,773
Current liabilities:
Accounts payable-trade	4	30
Accounts payable-related party		1
Intercompany payable	0	0
Other current liabilities	7,422	5,868
Total current liabilities	7,426	5,899
Long-term debt	986,015	985,412
Asset retirement obligations	0	0
Deferred income taxes	2,655
Total liabilities	996,096	991,311
Commitments and contingencies
Stockholders’ equity	4,817,624	3,697,462
Non-controlling interest	0	0
Total equity	4,817,624	3,697,462
Total liabilities and equity	5,813,720	4,688,773
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents	14,078	14,135	21,646	19,428
Restricted cash		0
Accounts receivable	143,529	109,782
Accounts receivable - related party	8	297
Intercompany receivable	572,954	359,502
Inventories	4,925	1,983
Other current assets	44,697	2,319
Total current assets	780,191	488,018
Property and equipment:
Oil and natural gas properties, at cost, based on the full cost method of accounting	7,424,971	4,400,002
Midstream assets	95,491	8,362
Other property, equipment and land	71,978	58,290
Accumulated depletion, depreciation, amortization and impairment	(1,811,340)	(1,695,701)
Net property and equipment	5,781,100	2,770,953
Funds held in escrow		121,391
Derivative instruments	4,379	709
Investment in subsidiaries	0	0
Deferred income taxes	0
Other assets	13,942	9,291
Total assets	6,579,612	3,390,362
Current liabilities:
Accounts payable-trade	27,756	45,838
Accounts payable-related party		0
Intercompany payable	3,577,132	3,423,538
Other current liabilities	286,287	155,454
Total current liabilities	3,891,175	3,624,830
Long-term debt	84,000	0
Asset retirement obligations	19,539	16,134
Deferred income taxes	0
Total liabilities	3,994,714	3,640,964
Commitments and contingencies
Stockholders’ equity	2,584,898	(250,602)
Non-controlling interest	0	0
Total equity	2,584,898	(250,602)
Total liabilities and equity	6,579,612	3,390,362
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents	1,614	9,213	$ 6,144	$ 539
Restricted cash		500
Accounts receivable	11,098	10,043
Accounts receivable - related party	3,224	3,470
Intercompany receivable	0	0
Inventories	0	0
Other current assets	191	187
Total current assets	16,127	23,413
Property and equipment:
Oil and natural gas properties, at cost, based on the full cost method of accounting	886,537	760,818
Midstream assets	0	0
Other property, equipment and land	0	0
Accumulated depletion, depreciation, amortization and impairment	(166,467)	(148,948)
Net property and equipment	720,070	611,870
Funds held in escrow		0
Derivative instruments	0	0
Investment in subsidiaries	0	0
Deferred income taxes	0
Other assets	35,083	35,266
Total assets	771,280	670,549
Current liabilities:
Accounts payable-trade	4	1,780
Accounts payable-related party		0
Intercompany payable	0	0
Other current liabilities	1,693	371
Total current liabilities	1,697	2,151
Long-term debt	81,500	120,500
Asset retirement obligations	0	0
Deferred income taxes	0
Total liabilities	83,197	122,651
Commitments and contingencies
Stockholders’ equity	688,083	547,898
Non-controlling interest	0	0
Total equity	688,083	547,898
Total liabilities and equity	$ 771,280	$ 670,549

Guarantor Financial Statement65

Guarantor Financial Statements - Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Oil sales	$ 237,884	$ 101,325	$ 444,958	$ 180,345
Natural gas sales	12,693	4,109	22,615	8,131
Natural gas liquid sales	16,857	7,049	32,359	11,488
Royalty income	0	0	0	0
Lease bonus income	583	0	2,185	0
Midstream services	1,417	0	2,547	0
Total revenues	269,434	112,483	504,664	199,964
Costs and expenses:
Lease operating expenses	28,989	18,677	55,615	36,900
Production and ad valorem taxes	15,879	8,159	31,604	16,121
Gathering and transportation	3,015	2,432	5,634	5,221
Midstream services	1,828	0	2,682	0
Depreciation, depletion and amortization	75,173	39,871	134,102	81,940
Impairment of oil and natural gas properties	0	168,352	0	199,168
General and administrative expenses	11,892	9,524	25,636	22,503
Asset retirement obligation accretion	350	254	673	500
Total costs and expenses	137,126	247,269	255,946	362,353
Income (loss) from operations	132,308	(134,786)	248,718	(162,389)
Other income (expense):
Interest expense	(8,245)	(10,019)	(20,470)	(20,032)
Other income	8,324	177	9,469	740
Gain (loss) on derivative instruments, net	33,320	(12,125)	71,021	(10,699)
Total other income (expense), net	33,399	(21,967)	60,020	(29,991)
Income (loss) before income taxes	165,707	(156,753)	308,738	(192,380)
Provision for income taxes	1,579	368	3,536	368
Net income (loss)	164,128	(157,121)	305,202	(192,748)
Net income (loss) attributable to non-controlling interest	5,723	(1,631)	10,524	(4,346)
Net income (loss) attributable to Diamondback Energy, Inc.	158,405	(155,490)	294,678	(188,402)
Eliminations [Member]
Revenues:
Oil sales	31,771	15,513	60,615	28,438
Natural gas sales	1,954	538	3,301	1,151
Natural gas liquid sales	2,208	785	4,067	1,333
Royalty income	(35,933)	(16,836)	(67,983)	(30,922)
Lease bonus income	(106)	(196)	(106)	(304)
Midstream services	0		0
Total revenues	(106)	(196)	(106)	(304)
Costs and expenses:
Lease operating expenses	0	0	0	0
Production and ad valorem taxes	0	0	0	0
Gathering and transportation	0	0	0	2
Midstream services	0		0
Depreciation, depletion and amortization	410	(820)	601	(2,029)
Impairment of oil and natural gas properties		0		0
General and administrative expenses	(615)	0	(1,230)	0
Asset retirement obligation accretion	0	0	0	0
Total costs and expenses	(205)	(820)	(629)	(2,027)
Income (loss) from operations	99	624	523	1,723
Other income (expense):
Interest expense	0	0	0	0
Other income	(615)	(250)	(1,230)	(250)
Gain (loss) on derivative instruments, net	0	0	0	0
Total other income (expense), net	(615)	(250)	(1,230)	(250)
Income (loss) before income taxes	(516)	374	(707)	1,473
Provision for income taxes	0	0	0	0
Net income (loss)	(516)	374	(707)	1,473
Net income (loss) attributable to non-controlling interest	5,723	(1,631)	10,524	(4,346)
Net income (loss) attributable to Diamondback Energy, Inc.	(6,239)	2,005	(11,231)	5,819
Parent Company [Member] | Reportable Legal Entities [Member]
Revenues:
Oil sales	0	0	0	0
Natural gas sales	0	0	0	0
Natural gas liquid sales	0	0	0	0
Royalty income	0	0	0	0
Lease bonus income	0	0	0	0
Midstream services	0		0
Total revenues	0	0	0	0
Costs and expenses:
Lease operating expenses	0	0	0	0
Production and ad valorem taxes	0	0	0	0
Gathering and transportation	0	0	0	0
Midstream services	0		0
Depreciation, depletion and amortization	0	0	0	0
Impairment of oil and natural gas properties		0		0
General and administrative expenses	6,432	6,067	13,540	14,374
Asset retirement obligation accretion	0	0	0	0
Total costs and expenses	6,432	6,067	13,540	14,374
Income (loss) from operations	(6,432)	(6,067)	(13,540)	(14,374)
Other income (expense):
Interest expense	(6,325)	(8,844)	(17,133)	(17,702)
Other income	0	63	1,092	120
Gain (loss) on derivative instruments, net	0	0	0	0
Total other income (expense), net	(6,325)	(8,781)	(16,041)	(17,582)
Income (loss) before income taxes	(12,757)	(14,848)	(29,581)	(31,956)
Provision for income taxes	1,579	368	3,536	368
Net income (loss)	(14,336)	(15,216)	(33,117)	(32,324)
Net income (loss) attributable to non-controlling interest	0	0	0	0
Net income (loss) attributable to Diamondback Energy, Inc.	(14,336)	(15,216)	(33,117)	(32,324)
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenues:
Oil sales	206,113	85,812	384,343	151,907
Natural gas sales	10,739	3,571	19,314	6,980
Natural gas liquid sales	14,649	6,264	28,292	10,155
Royalty income	0	0	0	0
Lease bonus income	0	0	0	0
Midstream services	1,417		2,547
Total revenues	232,918	95,647	434,496	169,042
Costs and expenses:
Lease operating expenses	28,989	18,677	55,615	36,900
Production and ad valorem taxes	13,106	6,756	26,761	13,416
Gathering and transportation	2,871	2,341	5,347	5,042
Midstream services	1,828		2,682
Depreciation, depletion and amortization	65,091	34,107	115,982	69,235
Impairment of oil and natural gas properties		146,894		151,699
General and administrative expenses	4,521	2,250	9,630	5,173
Asset retirement obligation accretion	350	254	673	500
Total costs and expenses	116,756	211,279	216,690	281,965
Income (loss) from operations	116,162	(115,632)	217,806	(112,923)
Other income (expense):
Interest expense	(1,277)	(719)	(2,082)	(1,444)
Other income	8,626	217	9,480	524
Gain (loss) on derivative instruments, net	33,320	(12,125)	71,021	(10,699)
Total other income (expense), net	40,669	(12,627)	78,419	(11,619)
Income (loss) before income taxes	156,831	(128,259)	296,225	(124,542)
Provision for income taxes	0	0	0	0
Net income (loss)	156,831	(128,259)	296,225	(124,542)
Net income (loss) attributable to non-controlling interest	0	0	0	0
Net income (loss) attributable to Diamondback Energy, Inc.	156,831	(128,259)	296,225	(124,542)
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenues:
Oil sales	0	0	0	0
Natural gas sales	0	0	0	0
Natural gas liquid sales	0	0	0	0
Royalty income	35,933	16,836	67,983	30,922
Lease bonus income	689	196	2,291	304
Midstream services	0		0
Total revenues	36,622	17,032	70,274	31,226
Costs and expenses:
Lease operating expenses	0	0	0	0
Production and ad valorem taxes	2,773	1,403	4,843	2,705
Gathering and transportation	144	91	287	177
Midstream services	0		0
Depreciation, depletion and amortization	9,672	6,584	17,519	14,734
Impairment of oil and natural gas properties		21,458		47,469
General and administrative expenses	1,554	1,207	3,696	2,956
Asset retirement obligation accretion	0	0	0	0
Total costs and expenses	14,143	30,743	26,345	68,041
Income (loss) from operations	22,479	(13,711)	43,929	(36,815)
Other income (expense):
Interest expense	(643)	(456)	(1,255)	(886)
Other income	313	147	127	346
Gain (loss) on derivative instruments, net	0	0	0	0
Total other income (expense), net	(330)	(309)	(1,128)	(540)
Income (loss) before income taxes	22,149	(14,020)	42,801	(37,355)
Provision for income taxes	0	0	0	0
Net income (loss)	22,149	(14,020)	42,801	(37,355)
Net income (loss) attributable to non-controlling interest	0	0	0	0
Net income (loss) attributable to Diamondback Energy, Inc.	$ 22,149	$ (14,020)	$ 42,801	$ (37,355)

Guarantor Financial Statement66

Guarantor Financial Statements - Cash Flow Statement (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Net cash provided (used in) by operating activities	$ 394,431	$ 121,781
Cash flows from investing activities:
Additions to oil and natural gas properties	(291,767)	(149,661)
Additions to midstream assets	(4,444)	0
Purchase of other property and equipment	(13,825)	(1,224)
Acquisition of leasehold interests	(1,860,980)	(17,533)
Acquisition of mineral interests	(122,679)	(11,319)
Acquisition of midstream assets	(50,279)	0
Proceeds from sale of assets	1,295	161
Funds held in escrow	121,391	0
Equity investments	(188)	(800)
Intercompany transfers	0	0
Net cash used in investing activities	(2,221,476)	(180,376)
Cash flows from financing activities:
Proceeds from borrowings under credit facility	266,000	17,000
Repayment on credit facility	(221,000)	(11,000)
Debt issuance costs	(1,605)	(66)
Public offering costs	(296)	(179)
Proceeds from public offerings	147,725	254,518
Distribution from subsidiary	0	0
Proceeds from exercise of stock options	358	498
Distributions to non-controlling interest	(14,123)	(3,497)
Intercompany transfers		0
Net cash provided by financing activities	177,059	257,274
Net increase (decrease) in cash and cash equivalents	(1,649,986)	198,679
Cash and cash equivalents at beginning of period	1,666,574	20,115
Cash and cash equivalents at end of period	16,588	218,794
Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided (used in) by operating activities	0	0
Cash flows from investing activities:
Additions to oil and natural gas properties	0	0
Additions to midstream assets	0
Purchase of other property and equipment	0	0
Acquisition of leasehold interests	0	0
Acquisition of mineral interests	0	0
Acquisition of midstream assets	0
Proceeds from sale of assets	0	0
Funds held in escrow	0
Equity investments	0	0
Intercompany transfers	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Proceeds from borrowings under credit facility	0	0
Repayment on credit facility	0	0
Debt issuance costs	0	0
Public offering costs	0	0
Proceeds from public offerings	0	0
Distribution from subsidiary	(40,572)	(26,560)
Proceeds from exercise of stock options	0	0
Distributions to non-controlling interest	40,572	26,560
Intercompany transfers		0
Net cash provided by financing activities	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Parent Company [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided (used in) by operating activities	(25,139)	(18,829)
Cash flows from investing activities:
Additions to oil and natural gas properties	0	0
Additions to midstream assets	0
Purchase of other property and equipment	0	0
Acquisition of leasehold interests	0	0
Acquisition of mineral interests	0	0
Acquisition of midstream assets	0
Proceeds from sale of assets	0	0
Funds held in escrow	0
Equity investments	0	0
Intercompany transfers	(1,657,407)	(60,712)
Net cash used in investing activities	(1,657,407)	(60,712)
Cash flows from financing activities:
Proceeds from borrowings under credit facility	0	0
Repayment on credit facility	0	0
Debt issuance costs	(635)	0
Public offering costs	(79)	(179)
Proceeds from public offerings	0	254,518
Distribution from subsidiary	40,572	26,560
Proceeds from exercise of stock options	358	498
Distributions to non-controlling interest	0	0
Intercompany transfers		(11,000)
Net cash provided by financing activities	40,216	270,397
Net increase (decrease) in cash and cash equivalents	(1,642,330)	190,856
Cash and cash equivalents at beginning of period	1,643,226	148
Cash and cash equivalents at end of period	896	191,004
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided (used in) by operating activities	358,123	110,609
Cash flows from investing activities:
Additions to oil and natural gas properties	(291,767)	(149,661)
Additions to midstream assets	(4,444)
Purchase of other property and equipment	(13,825)	(1,224)
Acquisition of leasehold interests	(1,860,980)	(17,533)
Acquisition of mineral interests	0	0
Acquisition of midstream assets	(50,279)
Proceeds from sale of assets	1,295	161
Funds held in escrow	121,391
Equity investments	(188)	(800)
Intercompany transfers	1,657,407	60,712
Net cash used in investing activities	(441,390)	(108,345)
Cash flows from financing activities:
Proceeds from borrowings under credit facility	162,000	0
Repayment on credit facility	(78,000)	(11,000)
Debt issuance costs	(790)	(46)
Public offering costs	0	0
Proceeds from public offerings	0	0
Distribution from subsidiary	0	0
Proceeds from exercise of stock options	0	0
Distributions to non-controlling interest	0	0
Intercompany transfers		11,000
Net cash provided by financing activities	83,210	(46)
Net increase (decrease) in cash and cash equivalents	(57)	2,218
Cash and cash equivalents at beginning of period	14,135	19,428
Cash and cash equivalents at end of period	14,078	21,646
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided (used in) by operating activities	61,447	30,001
Cash flows from investing activities:
Additions to oil and natural gas properties	0	0
Additions to midstream assets	0
Purchase of other property and equipment	0	0
Acquisition of leasehold interests	0	0
Acquisition of mineral interests	(122,679)	(11,319)
Acquisition of midstream assets	0
Proceeds from sale of assets	0	0
Funds held in escrow	0
Equity investments	0	0
Intercompany transfers	0	0
Net cash used in investing activities	(122,679)	(11,319)
Cash flows from financing activities:
Proceeds from borrowings under credit facility	104,000	17,000
Repayment on credit facility	(143,000)	0
Debt issuance costs	(180)	(20)
Public offering costs	(217)	0
Proceeds from public offerings	147,725	0
Distribution from subsidiary	0	0
Proceeds from exercise of stock options	0	0
Distributions to non-controlling interest	(54,695)	(30,057)
Intercompany transfers		0
Net cash provided by financing activities	53,633	(13,077)
Net increase (decrease) in cash and cash equivalents	(7,599)	5,605
Cash and cash equivalents at beginning of period	9,213	539
Cash and cash equivalents at end of period	$ 1,614	$ 6,144