Diamondback Energy plans to be the Permian Basin’s top consolidator with a focus on shareholder returns post-merger with Endeavor Energy. Shares fell 3.6% after lower-than-expected profits due to Brent crude price drops. The company aims to reduce debt, share count, and may increase buybacks if market conditions worsen. Diamondback lowered its capital budget amidst uncertain oil price forecasts.

Read more at Yahoo Finance: Diamondback says it should be Permian’s ‘consolidator of choice’ as oil outlook dims