Diamondback Energy Inc on Aug. 8 reported $158.0 million, or $1.59 per share, in adjusted net income for the second quarter, compared to $137.4 million, or $1.40 per share, in the prior-year period.

The S&P Global Market Intelligence consensus normalized earnings estimate for the second quarter was $1.64 per share.

Net income totaled $219.1 million, compared to $158.4 million in the second quarter a year ago.

Total revenue came in at $526.3 million in the second quarter, compared to $269.4 million in the prior-year period.

Average daily production totaled 112,592 barrels of oil equivalent per day in the second quarter, compared to 76,977 boe/d in the prior-year period.

The company also announced that it agreed to purchase all leasehold interests and related assets of Ajax Resources LLC for $900 million in cash and 2.58 million shares of Diamondback common stock. The acquisition is expected to close by October and is projected to bring the company's leasehold interests in the Permian Basin to approximately 230,000 net surface acres.

Diamondback also increased its production guidance to a range of 115,000 boe/d to 119,000 boe/d, up 4% from the prior range's midpoint. In addition, it narrowed its CapEX guidance from a range of $1.3 billion to $1.5 billion to a spread of $1.4 billion to $1.5 billion.