Diamondback Energy (NASDAQ: FANG) — Company Overview, News & Financial Data
Diamondback Energy focuses on the exploration and production of oil and gas in the Permian Basin, prioritizing sustainability.
Diamondback Energy
Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, exploration, and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin of West Texas. Headquartered in Midland, Texas, the company concentrates its operational activities primarily on horizontal drilling and production across multiple productive intervals within the Wolfcamp, Spraberry, and Bone Spring formations across both the Midland and Delaware sub-basins. Through continuous development, hydraulic fracturing, and associated midstream logistics, the company produces crude oil, natural gas liquids, and natural gas to supply domestic and international energy markets.
Snapshot
Operations
Products and/or services of Diamondback Energy
- Crude Oil Production: Extraction and sale of unrefined liquid petroleum from horizontal wells targeting tight oil reservoirs in West Texas, representing the primary revenue generator across Midland and Delaware Basin operations.
- Natural Gas Liquids Extraction: Recovery and marketing of liquid hydrocarbon products, including ethane, propane, butane, and natural gasoline, separated during specialized processing of natural gas streams produced from unconventional Permian Basin horizontal wells.
- Natural Gas Production: Gathering, processing, and pipeline transmission of produced casinghead and natural gas streams extracted alongside crude oil from horizontal wellbores in West Texas Permian Basin operations.
- Midland Basin Operations: Exploration, horizontal drilling, and hydraulic fracturing targeting stacked unconventional intervals, specifically the Spraberry and Wolfcamp formations, utilizing multi-well pads across extensive leasehold acreage in West Texas.
- Delaware Basin Operations: Horizontal well development, well completion, and oil extraction targeting the Bone Spring and Wolfcamp formations in the western portion of the Permian Basin spanning West Texas and New Mexico.
- Midstream and Mineral Interests: Management of gathering systems, saltwater disposal pipelines, surface infrastructure, and mineral royalty interests through subsidiary entities to support upstream fluid handling and generate fee-based revenue.
Diamondback Energy executive team
- Mr. Travis D. SticeExecutive Chairman of the Board
- Mr. Matthew Kaes Van't HofCEO & Director
- Mr. Daniel N. WessonExecutive VP & COO
- Ms. Teresa L. Dick CPAChief Accounting Officer, Executive VP & Assistant Secretary
- Mr. P. Matt ZmigroskyExecutive VP, Chief Legal & Administrative Officer and Secretary
- Mr. Jere W. Thompson IIIExecutive VP & CFO
- Mr. David L. CannonSenior Vice President of Geoscience & Technology
- Mr. Greg DolezalSenior VP & Chief Information Officer
- Mr. Adam T. LawlisVice President of Investor Relations
- Mr. Johnny D. DosseyVice President of Marketing