Diamondback Energy Inc. (FANG)

Overview

Diamondback Energy, Inc. is an independent oil and natural gas company that focuses on acquiring, developing, exploring, and exploiting unconventional, onshore oil and natural gas reserves. It operates primarily in the Permian Basin located in West Texas. The company has a specific interest in the Spraberry and Wolfcamp formations of the Midland basin as well as the Wolfcamp and Bone Spring formations in the Delaware basin, which span across West Texas and New Mexico. Founded in 2007, Diamondback Energy, Inc. has its headquarters in Midland, Texas, positioning it strategically within the rich oil fields it operates in. The company also engages in the ownership and operation of midstream infrastructure assets in the Midland and Delaware Basins, enhancing its operational capacity within the Permian Basin.

Products and Services

• Oil and Natural Gas Exploration and Production

  Diamondback Energy specializes in exploring and producing oil and natural gas through unconventional methods. The primary focus is on the efficient extraction of hydrocarbons from the Spraberry and Wolfcamp formations of the Midland basin and the Wolfcamp and Bone Spring formations of the Delaware basin. These activities represent the core of Diamondback's operations, dedicated to tapping into the significant oil and natural gas reserves of the Permian Basin.

• Midstream Infrastructure Operations

  In addition to its exploration and production activities, Diamondback Energy owns and operates various midstream infrastructure assets. These assets are crucial for the transportation, storage, and overall handling of the oil and natural gas produced in the Midland and Delaware Basins. This vertical integration allows Diamondback to manage more efficiently and optimize the value chain from extraction to delivery, ensuring a smoother operation within its primary geographic focus areas.