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Diamondback Energy Inc   (FANG)
Other Ticker:  
 
    Sector  Energy    Industry Oil And Gas Production
   Industry Oil And Gas Production
   Sector  Energy
 

Diamondback Energy Inc's Customers Performance

FANG

 
FANG's Source of Revenues In the Q4, Diamondback Energy Inc 's corporate clients experienced a decline by -11.18 % in their costs of revenue, compared to a year ago, sequentially costs of revenue grew by 0.32 %. During the corresponding time, Diamondback Energy Inc recorded revenue increase by 9.75 % year on year, sequentially revenue fell by -4.79 %. While revenue at the Diamondback Energy Inc 's corporate clients fell by -13.25 % year on year, sequentially revenue grew by 80 %.

List of FANG Customers




Customers of Diamondback Energy Inc saw their costs of revenue decline by -11.18 % in Q4 compare to a year ago, sequentially costs of revenue grew by 0.32 %, for the same period Diamondback Energy Inc recorded revenue increase by 9.75 % year on year, sequentially revnue fell by -4.79 %.

List of FANG Customers


   
Customers Net Income grew in Q4 by Customers Net margin grew to
121.81 % 5.36 %



Diamondback Energy Inc's Customers, Q4 2023 Revenue Growth By Industry
Customers in Construction Raw Materials Industry -55.46 %   
Customers in Oil And Gas Production Industry -24.4 %   
Customers in Oil & Gas Integrated Operations Industry -14.26 %   
Customers in Oil Refineries Industry -5.08 %   
Customers in Property & Casualty Insurance Industry      12.26 %
Customers in Investment Services Industry      10.44 %
Customers in Electric Utilities Industry -0.74 %   
Customers in Natural Gas Utilities Industry -5.13 %   
     
• Customers Valuation • Customers Mgmt. Effect.


Diamondback Energy Inc's Comment on Sales, Marketing and Customers



We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. Three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%).

We have entered into an oil purchase agreement with Shell Trading (US) Company in which we agreed to sell specified quantities of oil to Shell Trading (US) Company. Our agreement with Shell Trading (US) Company has an initial term of five years ending September 30, 2018. The agreement may also be terminated by Shell Trading (US) Company by written notice to us in the event that Shell Trading (US) Company’s contract for transportation on the pipeline is terminated. Our maximum delivery obligation under this agreement is 8,000 gross barrels per day. We have a one-time right to elect to decrease the contract quantity by not more than 20% of the then-current quantity. This decreased contract quantity, if elected, would be effective for the remainder of the term of the agreement. Shell Trading (US) Company has agreed to pay to us the price per barrel of oil based on the arithmetic average of the daily settlement price for “Light Sweet Crude Oil” Prompt Month future contracts reported by the NYMEX over the one-month period, as adjusted based on adjustment formulas specified in the agreement. If we fail to deliver the required quantities of oil under the agreement during any three-month period following the service commencement date, we have agreed to pay Shell Trading (US) Company a deficiency payment, which is calculated by multiplying (i) the volume of oil that we failed to deliver as required under the agreement during such period by (ii) Magellan’s Longhorn Spot tariff rate in effect for transportation from Crane, Texas to the Houston Ship Channel for the period of time for which such deficiency volume is calculated.






Diamondback Energy Inc's Comment on Sales, Marketing and Customers


We typically sell production to a relatively small number of customers, as is customary in the exploration, development and production business. Three purchasers each accounted for more than 10% of our revenue: Shell Trading (US) Company (45%); Koch Supply & Trading LP (15%); and Enterprise Crude Oil LLC (13%).

We have entered into an oil purchase agreement with Shell Trading (US) Company in which we agreed to sell specified quantities of oil to Shell Trading (US) Company. Our agreement with Shell Trading (US) Company has an initial term of five years ending September 30, 2018. The agreement may also be terminated by Shell Trading (US) Company by written notice to us in the event that Shell Trading (US) Company’s contract for transportation on the pipeline is terminated. Our maximum delivery obligation under this agreement is 8,000 gross barrels per day. We have a one-time right to elect to decrease the contract quantity by not more than 20% of the then-current quantity. This decreased contract quantity, if elected, would be effective for the remainder of the term of the agreement. Shell Trading (US) Company has agreed to pay to us the price per barrel of oil based on the arithmetic average of the daily settlement price for “Light Sweet Crude Oil” Prompt Month future contracts reported by the NYMEX over the one-month period, as adjusted based on adjustment formulas specified in the agreement. If we fail to deliver the required quantities of oil under the agreement during any three-month period following the service commencement date, we have agreed to pay Shell Trading (US) Company a deficiency payment, which is calculated by multiplying (i) the volume of oil that we failed to deliver as required under the agreement during such period by (ii) Magellan’s Longhorn Spot tariff rate in effect for transportation from Crane, Texas to the Houston Ship Channel for the period of time for which such deficiency volume is calculated.










FANG's vs. Customers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Diamondback Energy Inc 35,209.21 8,412.00 3,336.00 870
Centerpoint Energy Inc 18,029.80 8,696.00 917.00 12,901
Conocophillips 153,930.13 56,141.00 10,957.00 9,900
Devon Energy Corp 32,157.61 15,412.00 3,825.00 1,600
Empire Petroleum Corporation 107.24 40.08 -12.47 0
Entergy Corporation 22,435.92 12,147.41 2,362.31 12,369
Exxon Mobil Corporation 470,843.91 344,582.00 37,354.00 63,000
Marathon Oil Corporation 17,203.27 6,697.00 1,554.00 1,531
Nisource Inc 12,366.64 0.00 0.00 0
Occidental Petroleum Corporation 78,254.63 28,257.00 5,619.00 11,678
Sunoco Lp 6,444.56 23,068.00 824.00 22,500
Valero Energy Corp 60,515.50 144,766.00 9,149.00 9,813
Williams Companies Inc 47,603.35 10,907.00 3,303.00 4,783
Xcel Energy Inc 29,654.60 25,652.00 1,771.00 11,321
Public Service Enterprise Group Incorporated 33,363.96 11,237.00 2,563.00 12,684
Pg and e Corp 35,786.59 24,428.00 2,256.00 26,000
Cms energy Corporation 17,561.64 6,921.00 886.00 9,778
Dte Energy Co 23,174.49 12,745.00 1,397.00 10,300
Murphy Oil Corporation 7,164.28 3,460.15 723.68 1,712
Sitio Royalties Corp 3,802.55 526.21 99.73 1,745
Wec Energy Group Inc 25,914.50 8,893.00 1,331.70 6,938
Eqt Corporation 15,242.90 6,908.92 1,734.54 693
Southwestern Energy Company 8,370.26 6,522.00 1,557.00 2,781
Intercontinental Exchange Inc 77,669.27 10,222.00 2,438.00 8,858
Ameren Corporation 19,452.49 7,500.00 1,157.00 9,116
Loews Corp 17,848.63 15,901.00 1,545.00 10,340
Sea Limited 29,976.62 12,449.71 -1,657.77 5,900
Phillips 66 74,020.03 147,399.00 7,239.00 14,000
Oneok Inc 38,885.38 17,677.00 2,659.00 2,847
Kinder Morgan Inc 41,368.81 15,334.00 2,486.00 10,529
Eversource Energy 20,978.32 11,910.71 -434.72 9,227
Mdu Resources Group Inc 5,148.09 4,657.34 414.71 9,598
Pdc Energy Inc 6,524.40 4,220.27 1,850.54 395
Adams Resources and Energy Inc 70.56 2,745.29 0.21 645
Ngl Energy Partners Lp 763.19 7,375.81 60.41 2,700
Delek Us Holdings Inc 2,016.96 16,917.40 46.70 1,326
Bp Plc 666,894.85 213,032.00 15,880.00 0
SUBTOTAL 2,121,545.92 1,245,348.30 123,855.58 319,508


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