On May 7, Diamondback Energy Inc. (NASDAQ: FANG) detailed its financial results for the first-quarter 2014, which ended March 31, the company said. Net income was $23.6 million, the company said, noting that this had increased over fourth-quarter 2013’s $20.1 million.
Revenues for the quarter were also higher, at $98 million vs. fourth-quarter 2013’s $75.9 million, the company said.
Capex for drilling, completions and infrastructure was about $86.4 million, while $312.2 million was spent on leasehold acquisitions, Diamondback said.
Regarding liquidity, on March 31 the company had $137 million drawn ...