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Diamondback Energy Inc   (FANG)
Other Ticker:  
 
    Sector  Energy    Industry Oil And Gas Production
   Industry Oil And Gas Production
   Sector  Energy
 
Price: $185.1700 $2.65 1.452%
Day's High: $185.78 Week Perf: 4.55 %
Day's Low: $ 183.15 30 Day Perf: 20.44 %
Volume (M): 1,774 52 Wk High: $ 185.78
Volume (M$): $ 328,547 52 Wk Avg: $147.47
Open: $183.34 52 Wk Low: $119.01



 Market Capitalization (Millions $) 33,563
 Shares Outstanding (Millions) 181
 Employees 870
 Revenues (TTM) (Millions $) 8,412
 Net Income (TTM) (Millions $) 3,336
 Cash Flow (TTM) (Millions $) 421
 Capital Exp. (TTM) (Millions $) 4,714

Diamondback Energy Inc

We are 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 in West Texas. This basin, which is one of the major producing basins in the United States, is characterized by an extensive production history, a favorable operating environment, mature infrastructure, long reserve life, multiple producing horizons, enhanced recovery potential and a large number of operators.


We began operations in December 2007 with our acquisition of 4,174 net acres in the Permian Basin. Our total net acreage position in the Permian Basin was approximately 105,894 net acres. In addition, we, through our subsidiary Viper Energy Partners LP, or Viper, own mineral interests underlying approximately 107,568 gross (6,404 net royalty) acres primarily in Midland County, Texas in the Permian Basin. Approximately 41% of these net acres are operated by us. We own Viper Energy Partners GP LLC, the general partner of Viper, which we refer to as the general partner, and we own approximately 74% of the limited partner interest in Viper.

Our activities are primarily focused on horizontal development of the Spraberry and Wolfcamp formations of the Midland Basin and the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are part of the larger Permian Basin in West Texas and New Mexico. The Permian Basin is characterized by high oil and liquids rich natural gas, multiple vertical and horizontal target horizons, extensive production history, long-lived reserves and high drilling success rates.


Multi-year drilling inventory in one of North America’s leading oil resource plays. We have identified a multi-year inventory of potential drilling locations for our oil-weighted reserves that we believe provides attractive growth and return opportunities. At an assumed price of approximately $50.00 per Bbl WTI, we currently have approximately 2,722 gross (1,802 net) identified economic potential horizontal drilling locations on our acreage based on our evaluation of applicable geologic and engineering data. These gross identified economic potential horizontal locations have an average lateral length of approximately 8,600 feet, with the actual length depending on lease geometry and other considerations. These locations exist across most of our acreage blocks and in multiple horizons. Of these 2,722 locations, 2,223 are in the Midland Basin and 499 are in the Delaware Basin. The Delaware Basin locations do not include locations attributable to the Pending Acquisition. In the Midland Basin, 1,018 are in the Lower Spraberry or Wolfcamp B horizons where we have drilled a large number of wells, 805 are in the Wolfcamp A or Middle Spraberry horizons where we have drilled a limited number of wells and 355 are in the Clearfork or Cline horizons where we have drilled very few wells. Our current location count for the Lower Spraberry horizon is based on 500 foot spacing in the Spanish Trail property in Midland County and 660 foot spacing in other areas of Midland, Martin, northeast Andrews, Howard and Glasscock counties, and 880 foot spacing in all other counties. For the Wolfcamp B horizon, the horizontal location count is based on 660 foot spacing between wells in Midland, Martin, northeast Andrews, Howard, and Glasscock counties, and 880 foot spacing in all other counties. In the Wolfcamp A horizon, the horizontal location count in based on 660 foot spacing in Howard and Glasscock counties, 880 foot spacing in Reeves, Ward and Pecos counties, 880 foot spacing in Midland and southwest Martin counties and 1,320 foot spacing in other counties. The horizontal location count for the Middle Spraberry is based on 880 foot spacing in Midland, Martin and northeast Andrews counties and 1,320 foot spacing in other counties. In the Cline and Clearfork horizons, the horizontal location count is based on 1,320 foot spacing except for the Clearfork in central Andrews County which is based on 660 foot spacing. In the Delaware Basin, 303 locations are in the Wolfcamp A or Wolfcamp B horizons, and 196 locations are in the 2nd Bone Spring or 3rd Bone Spring horizon. The horizontal location counts are based on 880 foot spacing in the Wolfcamp A and Wolfcamp B horizons, and 1,320 foot spacing in the Bone Spring horizons. The ultimate inter- well spacing may vary from these distances due to different factors, which would result in a higher or lower location count. The two-stream gross estimated ultimate recoveries, or EURs, from our future PUD horizontal wells, as estimated by Ryder Scott as of December 31, 2016, range from 494 MBOE per well, consisting of 366 MBbls of oil and 769 MMcf of natural gas, to 1,273 MBOE per well, consisting of 995 MBbls of oil and 1,667 MMcf of natural gas, for wells ranging in lateral length from approximately 7,500 feet to approximately 10,000 feet, in intervals including the Clearfork, Middle Spraberry, Lower Spraberry, Wolfcamp A, and Wolfcamp B. Ryder Scott has estimated gross EURs of 620 MBOE for our Wolfcamp B wells in Midland County and 998 MBOE for our Lower Spraberry wells in Midland County, which constitute 47% of our remaining PUD horizontal wells, in each case based on 7,500 foot lateral lengths. In addition, we have approximately 871 square miles of proprietary 3-D seismic data covering our acreage. This data facilitates the evaluation of our existing drilling inventory and provides insight into future development activity, including additional horizontal drilling opportunities and strategic leasehold acquisitions.


Experienced, incentivized and proven management team. Our executive team has an average of over 25 years of industry experience per person, most of which is focused on resource play development. This team has a proven track record of executing on multi-rig development drilling programs and extensive experience in the Permian Basin. In addition, our executive team has significant experience with both drilling and completing horizontal wells in addition to horizontal well reservoir and geologic expertise, which is of strategic importance as we expand our horizontal drilling activity. Prior to joining us, our Chief Executive Officer held management positions at Apache Corporation, Laredo Petroleum Holdings, Inc. and Burlington Resources.


Favorable operating environment. We have focused our drilling and development operations in the Permian Basin, one of the longest operating hydrocarbon basins in the United States, with a long and well-established production history and developed infrastructure. We believe that the geological and regulatory environment of the Permian Basin is more stable and predictable, and that we are faced with less operational risks in the Permian Basin as compared to emerging hydrocarbon basins.


High degree of operational control. We are the operator of approximately 98% of our Permian Basin acreage. This operating control allows us to better execute on our strategies of enhancing returns through operational and cost efficiencies and increasing ultimate hydrocarbon recovery by seeking to continually improve our drilling techniques, completion methodologies and reservoir evaluation processes. Additionally, as the operator of substantially all of our acreage, we retain the ability to increase or decrease our capital expenditure program based on commodity price outlooks. This operating control also enables us to obtain data needed for efficient exploration of horizontal prospects.



   Company Address: 500 West Texas Midland, 79701 TX
   Company Phone Number: 221-7400   Stock Exchange / Ticker: NASDAQ FANG
   


Customers Net Income fell by FANG's Customers Net Profit Margin fell to

-27.32 %

3.62 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
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PXD        0.41% 
SWN        1.46% 
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Dividend

Diamondback Energy Reports Strong Financial Results for Q4 and FY 2023

Published Tue, Feb 20 2024 9:02 PM UTC



In a recent press release, Diamondback Energy, Inc. (NASDAQ: FANG) announced its financial and operating results for the fourth quarter and full year ended December 31, 2023. The company showcased promising growth and commitment to shareholders, evident in its increased dividend payout ratio. While the company's performance ranks lower than some peers in the Energy...

Dividend

Diamondback Energy Inc. Accelerates and Ascends: Impressive Third Quarter Results Propel Stock Surge

Published Mon, Nov 6 2023 9:02 PM UTC



Diamondback Energy Inc., a leading independent oil and natural gas exploration and production company, recently released its financial and operating results for the third quarter ended September 30, 2023. The report showcases remarkable improvements in both financial performance and operational efficiency, resulting in a significant rise in the company's stock valu...

Diamondback Energy Inc

Diamondback Energy Inc Encounters Severe Decline in Income per Share amid 61.54% Slump in Profits for Q2 2023

Diamondback Energy Inc, a leading independent oil and gas exploration company, recently witnessed a significant decline in its revenue and profits for the April to June 30, 2023, time-frame. The company's revenue saw a steep fall of -30.672% compared to the previous year, resulting in a slump of -61.54% in profits.
The financial report reveals that Diamondback Energy Inc posted earnings of $1.92 billion in revenue for the specified time-frame. This is a notable drop from $2.77 billion reported during the same period in the preceding year. Similarly, the earnings per share (EPS) also declined from $7.93 to $3.05 per share.

Diamondback Energy Inc

Diamondback Energy Inc. Faces -11.01% Decrease in Income per Share in Recent Fiscal Period

Diamondback Energy Inc. is among the top players in the energy sector in the United States. The company reported an impressive return on asset (ROA) of 17.78% in its first quarter of 2023. While this beats the average ROA of 0.53% for other companies in the FANG index, it is less than what 20 other energy sector companies reported in the same period.
The decrease in ROA in the first quarter of 2023, compared to the previous quarter, was attributed to a dip in net income. Despite this, the overall ranking for ROA improved from 294 in the fourth quarter of 2022 to 74 in the first quarter of 2023.






 

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Diamondback Energy Inc does not provide revenue guidance.

Earnings Outlook
Diamondback Energy Inc does not provide earnings estimates.

 
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