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Shale producer DiamondBack's fourth-quarter adj. profit rises

Feb 22 (Reuters) - Shale oil and gas producer DiamondBack Energy Inc on Monday reported a rise in fourth-quarter adjusted profit compared to the third quarter, as commodity prices rebounded above pre-pandemic levels on vaccine hopes.

DiamondBack, which postponed its earnings last week due to harsh winter weather in Texas, said its adjusted earnings rose to $130 million, or 82 cents per share, in the quarter ended Dec. 31, from $98 million, or 62 cents per share in the third quarter. (Reporting by Shariq Khan in Bengaluru; Editing by Maju Samuel)

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