Diamondback Energy Inc (FANG)

Profile

https://www.diamondbackenergy.com

Diamondback Energy Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration, and production of unconventional onshore reserves. It operates primarily as a pure-play in the US Permian Basin, targeting key formations such as the Spraberry and Wolfcamp in the Midland Basin, and the Wolfcamp and Bone Spring in the Delaware Basin, spanning West Texas and New Mexico. The company conducts its activities through Upstream and Midstream Services segments, emphasizing operational efficiency and low unit costs, particularly in the Midland sub-basin. Diamondback Energy Inc. employs advanced techniques like horizontal drilling to enhance resource recovery in these prolific shale plays. Founded in 2007 and headquartered in Midland, Texas, it plays a significant role in the energy sector by supplying crude oil and natural gas to domestic and global markets, contributing to the United States' position as a leading energy producer.