Diamondback Energy Inc (OQ:FANG)
Business Focus: Oil & Gas Exploration and Production
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | SUITE 1210, 500 WEST TEXAS MIDLAND TX 79701 |
| Tel: | 1-432-2217400 |
| Website: | https://ir.diamondbackenergy.com |
| IR: | See website |
| Key People | ||
| Travis D. Stice Chairman of the Board, Chief Executive Officer | David L. Cannon Senior Vice President of Geoscience and Technology | Kaes Van't Hof President, Chief Financial Officer |
| Daniel N. Wesson Chief Operating Officer, Executive Vice President | Teresa L. Dick Executive Vice President, Chief Accounting Officer, Assistant Secretary | Matt Zmigrosky Executive Vice President, Chief Legal and Administrative Officer, Secretary |
| Al Barkmann Executive Vice President, Chief Engineer | Thomas F. Hawkins Executive Vice President - Special Projects | Jere Thompson Executive Vice President - Strategy and Corporate Development | Kara B. Blubaugh-Few Senior Vice President of Accounting, Controller |
| Business Overview |
| Diamondback Energy, Inc. is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. The Company's 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. Its total acreage position in the Permian Basin includes approximately 607,877 gross (493,769 net) acres, which consists primarily of 428,324 gross (349,707 net) acres in the Midland Basin and 174,828 gross (143,742 net) acres in the Delaware Basin. The Company is also engaged in midstream gathering, compression, water handling, disposal and treatment operations. Its subsidiary Viper Energy, Inc., also owns mineral interests in the Permian Basin. |
| Financial Overview |
| For the three months ended 31 March 2024, Diamondback Energy Inc revenues increased 16% to $2.23B. Net income applicable to common stockholders increased 8% to $763M. Revenues reflect Crude Oil Production increase of 13% to 20.1M barrels, Oil Equivalent Production (Units/day) increase of 8% to 461K barrels per day. Net income was partially offset by All Other segment income decrease of 53% to $21M. |
| Employees: | 1,023 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $41,539M as of Mar 31, 2024 |
| Annual revenue (TTM): | $8,714M as of Mar 31, 2024 |
| EBITDA (TTM): | $6,490M as of Mar 31, 2024 |
| Net annual income (TTM): | $3,176M as of Mar 31, 2024 |
| Free cash flow (TTM): | $440.00M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $5,733M as of Mar 31, 2024 |
| Shares outstanding: | 178,343,733 as of Apr 26, 2024 |
| Index Membership: | S&P 500 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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