Diamondback Energy
Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, and exploitation of unconventional onshore reserves. The company operates primarily in the Permian Basin of West Texas and New Mexico, leveraging horizontal drilling in the Midland and Delaware Basins. Its value proposition is centered on capital efficiency, long-lived reserves, and high drilling success rates in liquids-rich formations.
Financials
Based on Q1 2026 filing
Revenue
View metricGross Profit
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Upstream
primaryThe core business segment focused on the exploration and production of oil, natural gas, and natural gas liquids from unconventional formations.
Crude Oil, Natural Gas, Natural Gas Liquids
Refiners, Midstream companies, Industrial consumers
Mineral Interests
majorOwnership and management of mineral and royalty interests in oil and natural gas properties, primarily through the publicly traded subsidiary Viper Energy.
Mineral Interests, Royalty Interests
Oil and gas operators
Segment Financials
Oil sales — Revenue
View metricOther service revenues — Other operating income
View metricNatural gas liquid sales — Revenue
View metricNatural gas sales — Revenue
View metricBusiness Overview
Competitive Position
A leading independent operator in the Permian Basin with a significant acreage position and a focus on low-cost horizontal development.
Geographies
United States, Texas, New Mexico
Customer Segments
Energy wholesalers, Refining companies
Upstream Dependencies
Oilfield service providers, Drilling rig operators, Water management services, Equipment and raw material suppliers
Downstream Customers
Crude oil refiners, Natural gas processors, Pipeline operators, Commodity traders
Competitors & Partners
Competitors
Partners
GRP Energy Capital LLC
Purchaser of non-Permian assets from Viper
Warwick Capital Partners LLP
Purchaser of non-Permian assets from Viper
Subsidiaries
Viper Energy
VNOM
Publicly traded subsidiary owning mineral and royalty interests
Endeavor Energy Resources, LP
Wholly owned subsidiary involved in asset drop-downs
DE Permian, LLC
Acquired entity from Double Eagle IV Midco
Diamondback Energy FAQ
Common questions about Diamondback Energy
Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, and exploitation of unconventional onshore reserves. The company operates primarily in the Permian Basin of West Texas and New Mexico, leveraging horizontal drilling in the Midland and Delaware Basins. Its value proposition is centered on capital efficiency, long-lived reserves, and high drilling success rates in liquids-rich formations.
Diamondback Energy (FANG) has a market capitalization of $55.7B and trades on NASDAQ.
Diamondback Energy generated $15.2B in trailing twelve-month revenue with net income of $3.1B, representing a net margin of 20.7%. These figures are based on the Q1 2026 filing.
Diamondback Energy's key competitors include Devon Energy Corporation, ConocoPhillips, Chevron Corporation, and others. These companies compete in similar markets and product categories.
Diamondback Energy has approximately 1,023 employees.