Diamondback Energy

U.S. energy company

Diamondback Energy, Inc.

Company type| Public company

Traded as

* Nasdaq: FANG
* S&P 500 component
* Nasdaq-100 component

ISIN| US25278X1090
Industry| Petroleum industry
Headquarters| Midland, Texas, U.S.

Key people

|  Steven E. West, Chairman
Travis D. Stice, CEO
Daniel N. Wesson, COO
Kaes Van't Hof, CFO
Products|

* Petroleum
* Natural gas
* Natural gas liquids

Production output

| 375 thousand barrels of oil equivalent (2,290,000 GJ) per day (2021)
Revenue|  US$6.797 billion (2021)

Operating income

| 6,508,000,000 United States dollar (2022)

Net income

|  US$2.182 billion (2021)
Total assets|  US$22.898 billion (2021)
Total equity|  US$13.245 billion (2021)

Number of employees

| 870 (2021)
Website| www.diamondbackenergy.com
Footnotes / references
[1]

Diamondback Energy is a company engaged in hydrocarbon exploration headquartered in Midland, Texas.

As of December 31, 2020, the company had 1,788 million barrels of oil equivalent (1.094×1010 GJ) of estimated proved reserves, of which 52% was petroleum, 24% was natural gas, and 24% was natural gas liquids. The company's reserves are all in the Permian Basin.[1]

It is ranked 479th on the Fortune 500.[2]

## History[edit]

The company began operations in December 2007 with the acquisition of 4,174 net acres in the Permian Basin.[1]

In October 2012, the company became a public company via an initial public offering, issuing 12,500,000 shares of common stock at a price of $17.50 per share.[3][4]

In March 2017, the company acquired assets from Brigham Resources for $2.55 billion.[5][6]

In October 2018, the company acquired the assets of Ajax Resources for $1.25 billion.[7][8]

In November 2018, the company acquired Energen.[9]

In February 2021, the company acquired leasehold interests and assets from Guidon Resources for $375 million in cash and 10.68 million shares.[10][11]

In March 2021, the company acquired QEP Resources.[11][12]

A 2023 Bloomberg news story identified the company, as well as Permian Resources, as major contributors to the increase of flaring gas in the Permian oil field.[13]

## References[edit]

1. ^ a b c "Diamondback Energy, Inc. 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
2. ^ "Diamondback Energy". Fortune.
3. ^ "Diamondback Energy, Inc. Completes Initial Public Offering of Common Stock" (Press release). Globe Newswire. October 17, 2012.
4. ^ "Diamondback Energy IPO Is Complete". The Motley Fool. Associated Press. October 17, 2012.
5. ^ "Diamondback Energy, Inc. Announces Closing of Acquisition from Brigham Resources" (Press release). Globe Newswire. March 1, 2017.
6. ^ Garcia, Luis (March 2, 2017). "Brigham Resources Closes $2.55 Billion Permian Asset Sale to Diamondback". The Wall Street Journal.
7. ^ "Diamondback Energy, Inc. Announces Third Quarter 2018 Financial and Operating Results" (Press release). Globe Newswire. November 6, 2018.
8. ^ "Diamondback to acquire Ajax Resources in $1.25-billion deal". Oil & Gas Journal. August 10, 2018.
9. ^ "Diamondback Energy, Inc. Completes Acquisition of Energen Corporation" (Press release). Globe Newswire. November 29, 2018.
10. ^ "Diamondback Energy, Inc. Announces Closing of Acquisition from Guidon Operating LLC" (Press release). GlobeNewswire. February 26, 2021.
11. ^ a b Takahashi, Paul (March 17, 2021). "Midland oil and gas producer Diamondback Energy acquires rival QEP Resources". Houston Chronicle.
12. ^ "Diamondback Energy, Inc. Completes Acquisition of QEP Resources, Inc" (Press release). GlobeNewswire. March 17, 2021.
13. ^ Zachary Mider and Mitchell Ferman. Bloomberg reporters. (4 October 2023). "Flaring Ticks Up in Texas Oil Patch, Showing Limits of ESG Pressure". Yahoo Finance website Retrieved 4 Oct 2023.

## External links[edit]

* Official website
* Business data for Diamondback Energy, Inc.:

* Bloomberg
* Google
* Reuters
* SEC filings
* Yahoo!

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