Key Highlights

  • Viper Energy sits first with $661 million of operating income, a 58.1% (calculated) rise, and consolidated profit of $300 million.
  • Crescent Energy generated $1.35 billion of revenue, a 56% gain, but a derivative loss of $405.8 million pushed it into a $0.6 million net deficit.
  • Diamondback Energy's Top Line reached $5.431 billion, a 38.4% (calculated) gain, while attributable Net Income hit $1.603 billion.
  • Kosmos Energy's Deficit shrank to $43.0 million even as oil and gas sales climbed 31.9% (calculated), reaching $410.1 million.
  • Vitesse Energy's sales hit $83.0 million, a 23% rise, yet the result was a $36.4 million shortfall after a $58.6 million derivative hit.

Five Energy Producers Lined Up by Revenue Expansion

Results from filings and releases dated Nov 2, 2026 are sorted here by revenue growth against the prior-year quarter. Viper Energy (NASDAQ:VNOM) takes the lead; its total Operating Income reached $661 million, a 58.1% (calculated) increase. Crescent Energy (NYSE:CRGY) sits second at $1.35 billion, a 56% gain, while Diamondback Energy (NASDAQ:FANG) ranks third at $5.431 billion, a 38.4% (calculated) rise.

Fourth place is Kosmos Energy (NYSE:KOS), with $409.88 million across revenues and other income, up 31.7% (calculated). Vitesse Energy (NYSE:VTS) closes the set at $83.0 million, a 23% increase. Viper's yardstick is total operating income, a choice the article makes for its revenue figure, so the base is not identical to the rest.

Profitability on a net basis was limited to Viper and Diamondback. The other three, Crescent, Kosmos and Vitesse, recorded losses, each tied to a large derivative hit in the period.

1. Viper Energy: Royalty Income Drives a 58.1% Operating Income Rise

Operating income for the company totaled $661 million, with royalties making up $656 million of that. Consolidated net income reached $300 million, compared with a $197 million loss the year before, which contained a $360 million impairment. The portion attributable to Viper itself was $140 million, equal to $0.72 on a diluted Class A basis. Its holdings consist of mineral and royalty interests, mostly in the Permian Basin.

Daily output averaged 141,152 BOE, and the realized oil price before hedges stood at $87.65 a barrel. Two September acquisitions carry cash components that add up to roughly $809 million (calculated). For 2026, oil output guidance moved up to 67,250 through 67,750 barrels per day, and the $0.50 base payout is due Nov 19, 2026.

2. Crescent Energy: Derivative Losses Offset a Jump in Operating Income to $478.7 Million

Crescent's revenue came to $1.35 billion, while operating income climbed to $478.7 million, compared with $30.8 million before. Derivatives produced a $405.8 million loss, versus a $55.7 million gain a year earlier, and rising interest costs added to the pressure, leaving a $0.6 million net loss. Crescent's output moved to 328 thousand BOE per day from 253 thousand, chiefly as a result of a combination completed in December 2025.

Adjusted EBITDAX grew 62%, reaching $785.8 million; levered free Cash Flow advanced 79%, arriving at $366.7 million. The company carried $4.72 billion of long-term debt. An Oct 8, 2026 agreement calls for roughly $4.2 billion of cash to acquire Eagle Ford properties, with financing from about a $1.1 billion Equity sale plus a $1.5 billion term facility.

3. Diamondback Energy: Price and Volume Behind a 38.4% Sales Increase

Sales for the company reached $5.431 billion, rising from $3.924 billion, while profit tied to shareholders hit $1.603 billion, which equals $5.69 a diluted share. Oil output held steady at 525 thousand barrels per day versus the second quarter, with realized crude pricing at $87.30 a barrel. Its operations target Permian Basin hydrocarbons, with exploration and production as the core activities.

Free cash flow reached roughly $2.1 billion after $1.0 billion of cash capex. Directors lifted the yearly base payout by 7.3%, to $4.72 a share, and Buybacks totaled 1.3 million shares, worth about $251 million in the period. Oil guidance for the full year now points to around 524 thousand barrels per day, while capex sits between $3.95 billion and $4.00 billion.

4. Kosmos: A Derivatives Charge Keeps the Quarter in the Red

Kosmos posted a $43.0 million deficit, or $0.07 a share, far better than the $124.3 million ($0.26) loss of the earlier period. Oil and gas revenue totaled $410.1 million, while realized pricing averaged $71.39 a BOE, up from $56.39. The filing ties a $133.9 million derivatives charge to shifts in the forward oil price curve, and that charge kept the period negative.

Unit costs dropped to $17.72 a BOE, compared with $26.78. Net Debt stood at $2.47 billion, a 17.1% decline (calculated) from $2.98 billion as 2025 closed. Leadership anticipates lower net output in the final quarter and aims for about $2 billion of net debt by year-end 2027, assuming strip pricing.

5. Vitesse Energy: A Commodity Loss Overshadows a 23% Revenue Increase

Revenue climbed to $83.0 million from $67.4 million, although daily output slipped 7%, landing at 16,824 BOE/d. Pre-hedge realized pricing, at $53.59 a BOE, contributed $22.1 million, whereas reduced volumes took away $6.6 million. Its holdings are non-operated stakes, largely in the Williston Basin.

The shortfall reached $36.4 million, equal to $0.86 a share, after a $1.3 million loss the year before. Chiefly responsible was a $58.6 million commodity derivative loss, with $46.6 million of that unrealized. Directors declared a $0.4375 payout, and $84.5 million stayed open on the revolving line of credit.

Averages, Derivative Totals and Margin Gaps Among the Five

Mean growth across the five is 41.4% (calculated), while the distance separating Viper from Vitesse measures 35.1 percentage points (calculated). Summed revenue measures reach $7,936.1 million (calculated), and Diamondback represents 68.4% of that (calculated).

Derivative-related losses at Crescent, Kosmos and Vitesse total $598.3 million (calculated). On a calculated basis, Diamondback keeps 29.5 cents of each revenue dollar as net income, and Viper's consolidated net income equals 45.4% of its operating income. Because Viper's revenue line is operating income, these ratios offer only a loose comparison.

What to Watch Next: Payout Timing, Crescent's Eagle Ford Deal and Kosmos Ghana Drilling

Viper and Diamondback both make payments on Nov 19, 2026; Crescent's arrives Nov 30, 2026. Vitesse's upcoming distribution is scheduled for Dec 31, 2026, for holders recorded on Dec 15. Viper anticipates closing its $280 million Midland Basin purchase in the fourth quarter.

Crescent's Eagle Ford transaction is projected to finish during late 2026 or early 2027, pending antitrust waiting-period requirements. Kosmos materials reference a Ghana drilling program starting mid-2027, along with an exploration well due during January through June 2027, but they name no exact date.