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Diamondback Energy, Inc. is a United States–based company operating in the energy sector, within the oil and natural-gas exploration and production industry.
The company focuses on developing and operating onshore assets, primarily in the Permian Basin of Texas and New Mexico, one of the most productive hydrocarbon regions in North America. Founded in 2007 in Midland, Texas, Diamondback emerged during a transformative period marked by the rapid adoption of horizontal drilling and hydraulic fracturing technologies, which enabled independent operators to scale production with great efficiency.
Diamondback’s portfolio consists of crude oil, natural gas and natural-gas liquids (NGLs) production, with activities concentrated exclusively in the upstream segment. The company develops reservoirs in both the Midland and Delaware basins using advanced drilling technologies, multi-stage completions and high-precision production systems.
Its operations also integrate water management, gathering systems and proprietary infrastructure to support cost efficiency and operational reliability. The company’s operations are domestic, focused primarily in Texas with complementary assets in New Mexico. Its operational footprint includes drilling rigs, production facilities, gathering pipelines, fluid-management systems, logistics operations and reservoir-engineering units.
Diamondback applies data-driven planning and reservoir modeling to maximize resource recovery and maintain low operating costs per barrel.
Market factors shaping the company’s performance include global oil and gas price cycles, U.S. energy policy, technological advancements in drilling and completion, capital availability, water-sourcing requirements, regulatory developments, Permian Basin infrastructure constraints and competitive dynamics among independent shale producers.
Diamondback benefits from operating in a region known for favorable well economics and high productivity.
Diamondback Energy, Inc.’s shares trade on the Nasdaq under the ticker FANG.
History and when Diamondback Energy, Inc. was founded
Diamondback Energy was founded in 2007 in Midland, Texas, initially focused on acquiring and developing conventional oil assets in West Texas. Its founders recognized the growing potential of unconventional shale reservoirs and strategically positioned the company to capitalize on emerging drilling technologies.
Early efforts concentrated on assembling mineral positions in the Midland Basin and transitioning to horizontal-shale development. In 2012, Diamondback completed its initial public offering (IPO) on the Nasdaq, enabling capital expansion into high-quality acreage and accelerating development activities.
Throughout the 2010s, the company expanded its operational scale through a series of strategic acquisitions and technological improvements. A major milestone occurred in 2018 with the acquisition of Energen Corporation, substantially increasing Diamondback’s acreage and establishing the company as a major independent operator in the Permian Basin.
The company continued refining drilling efficiency, implementing next-generation completion designs and integrating infrastructure to support higher production levels. These advancements allowed Diamondback to emerge as one of the lowest-cost shale producers in the United States.
Between 2020 and 2024, Diamondback navigated oil-price volatility, supply-chain pressures and evolving regulatory and environmental expectations. The company focused on financial discipline, operational optimization, emissions-reduction initiatives and shareholder-return programs, including variable dividends and share buybacks. Investments in infrastructure self-sufficiency strengthened resilience during periods de stress in the broader energy market.
By 2024, Diamondback Energy had solidified its reputation as one of the leading independent exploration and production companies in the Permian Basin, supported by a disciplined capital strategy, technological sophistication and a high-quality asset base.
Additional Information
The Company Diamondback Energy Inc. (United States), is listed on Nasdaq with a market value of $ 42.60 Billions, having an equity of $ 45.63 Billions.
With a total of 732 employees, the company is listed in the sector of Energy and categorized in industry of Oil, Gas and Consumable Fuels.
In the last 12 months the Company had a revenue of $ 15.28 Billions, which generated a profit in the amount of $ 4.20 Billions.
As for its main indicators, the Company has a P/E ratio of 10.15, a P/BV ratio of 0.93 and in the last 12 months the dividend yield of FANG was at 2.71%.
The Company is traded internationally through the ticker FANG.
