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Diamondback Energy Inc   (NASDAQ: FANG)
Other Ticker:  
 
    Sector  Energy    Industry Oil And Gas Production
   Industry Oil And Gas Production
   Sector  Energy
 
Price: $155.4600 $-6.55 -4.043%
Day's High: $161.31 Week Perf: -2.86 %
Day's Low: $ 155.14 30 Day Perf: -12.47 %
Volume (M): 2,391 52 Wk High: $ 214.50
Volume (M$): $ 371,767 52 Wk Avg: $186.53
Open: $161.19 52 Wk Low: $152.00



 Market Capitalization (Millions $) 31,827
 Shares Outstanding (Millions) 205
 Employees 1,023
 Revenues (TTM) (Millions $) 9,583
 Net Income (TTM) (Millions $) 3,422
 Cash Flow (TTM) (Millions $) -457
 Capital Exp. (TTM) (Millions $) 11,397

Diamondback Energy Inc
Diamondback Energy Inc. Overview

Company Profile:
Diamondback Energy Inc. is an independent oil and natural gas exploration and production company specialized in acquiring, developing, and exploiting unconventional, onshore oil and natural gas reserves. The company primarily operates in the Permian Basin, one of the most prolific oil-producing regions in North America, located in West Texas and New Mexico.

Operations & Assets:
Established in December 2007, Diamondback Energy started its journey with the acquisition of 4,174 net acres in the Permian Basin. As of the latest update, the companys total net acreage position in the Permian Basin approximates 105,894 net acres. Diamondback also controls a subsidiary, Viper Energy Partners LP, that possesses mineral interests under approximately 107,568 gross (6,404 net royalty) acres mainly situated in Midland County, Texas, which is part of the Permian Basin. About 41% of these net acres are operated by Diamondback Energy, significantly contributing to its operational efficiency and control.

Target Formations:
The companys drilling activities focus on the horizontal development of the Spraberry and Wolfcamp formations in the Midland Basin as well as the Wolfcamp and Bone Spring formations in the Delaware Basin. The characteristics of the Permian Basin ' including high oil yields, multiple productive horizons, and historical drilling successes ' position Diamondback for significant resource recovery.

Drilling Inventory and Potential:
Diamondback Energy boasts a multi-year drilling inventory indicative of their operational strengths within the Permian Basin. Current assessments estimate approximately 2,722 gross (1,802 net) economically viable horizontal drilling locations on their acreage, based on geological and engineering evaluations. This detailed inventory spans various horizons, each with differing lateral lengths, accounting for operational flexibility.

For instance, approximately:
- 2,223 of the identified locations are situated in the Midland Basin.
- 499 locations are in the Delaware Basin.

Specific formations include different counts based on the estimated spacing for optimal drilling'such as:
- Lower Spraberry or Wolfcamp B
- Wolfcamp A or Middle Spraberry
- Clearfork or Cline horizons and several Bone Spring horizons.

The estimated ultimate recoveries (EURs) of their horizontal wells range significantly, suggesting a robust potential for oil and gas extraction per well.

Management Team:
Diamondback Energy benefits from a seasoned management team that averages over 25 years of industry experience. This depth of expertise is critical, particularly within the opportunities presented by resource play development in the Permian Basin. The leadership has demonstrated proficiency in executing multi-rig drilling programs and has considerable backgrounds in horizontal drilling techniques and reservoir evaluations.

Operating Environment:
The company's focus on the Permian Basin allows it to capitalize on a stable and established production landscape. This specific environment enhances predictability in operations and reduces the operational risks typical of less mature hydrocarbon basins.

Operational Control:
Significantly, Diamondback operates approximately 98% of its Permian Basin acreage, conferring a high degree of operational control. This autonomy not only enhances the execution of their strategies to optimize returns but also facilitates ongoing improvements in drilling and completion practices. Operational control allows Diamondback to adjust its capital expenditures in response to market conditions efficiently, ensuring a strategic approach to commodity fluctuations.

Conclusion:
Overall, Diamondback Energy Inc. remains a formidable player in the oil and gas industry, leveraging its extensive operations in the resource-rich Permian Basin, a robust inventory of drilling locations, and a skilled management team to drive future growth and profitability.


   Company Address: 500 West Texas Ave. 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

-23.95 %

9.47 %

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


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
DVN        2.43% 
EOG        1.73% 
MRO   -0.14%    
OVV        0.9% 
OXY        2.11% 
PARR   -6.19%    
• View Complete Report
   



Partnership

Diamondback Energy, Halliburton, and VoltaGrid Sign Agreement for Four Electric Simul-Frac Fleets in the Permian Basin

Published Fri, Dec 13 2024 4:32 PM UTC

Pioneering Energy Solutions: Diamondback Energy s Strategic Moves Amid Industry ShiftsIn a groundbreaking endeavor to revolutionize energy operations, Diamondback Energy Inc., in partnership with Halliburton Energy Services and VoltaGrid LLC, has charted new territories by signing an agreement to deploy four state-of-the-art electric simul-frac fleets in the Permian Basin. ...

Shares

?Diamondback Energizes Strategic Growth: Stockholder Engagement and Strategic Partnerships Drive Market Leadership,

Published Mon, Nov 4 2024 9:02 PM UTC

Midland, Texas - November 4, 2024 In an era where transparency and strategic foresight drive stockholder confidence, Diamondback Energy, Inc. (NASDAQ: FANG) has meticulously communicated its recent corporate actions and financial positioning through a series of important announcements, highlighted most recently in their letter to stockholders. Strengthening with Strategic Co...

Partnership

Charting the Course Diamondback Energys Strategic Commitments Amid Market Realities,

Published Tue, Sep 24 2024 11:01 AM UTC

Balancing Growth and Performance: A Look at Diamondback Energy and the EPIC Crude Transactions In the rapidly evolving oil and gas industry, strategic partnerships and financial maneuvers can significantly impact a company s trajectory. Recently, a series of transformative transactions were announced involving Diamondback Energy, Kinetik Holdings, and EPIC Midstream. These m...

Stock Market Announcement

Diamondback Energy Executes $2.2 Billion Upsized Secondary Offering, Signaling Strategic Growth in a Dynamic Market,

Published Fri, Sep 20 2024 3:36 AM UTC

Diamondback Energy Upsizes Secondary Common Stock Offering to Fuel Strategic GrowthOn September 19, 2024, Diamondback Energy, Inc. (NASDAQ: FANG), a leading independent oil and natural gas company based in Midland, Texas, made a significant announcement that has captured the attention of investors and market analysts alike. The company revealed the upsize and pricing of an u...

Financing Agreement

Diamondback Energy Announces Launch of Secondary Common Stock Offering: A Strategic Pathway to Growth,

Published Thu, Sep 19 2024 8:55 PM UTC

Diamondback Energyns Bold Moves: Stock Offering and Strategic Merger Propel Growth in the Oil SectorIn a rapidly evolving energy ma...







Diamondback Energy Inc's Segments
All Other    0.34 % of total Revenue
Upstream    99.66 % of total Revenue
Eliminations    -1.47 % of total Revenue





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