Diamondback Energy

Diamondback Energy is an American energy company engaged in hydrocarbon exploration. It is headquartered in Midland, Texas.

Diamondback Energy, Inc.
TypePublic company
ISINUS25278X1090
IndustryPetroleum industry
HeadquartersMidland, Texas, U.S.
Key people
 Steven E. West, Chairman
Travis D. Stice, CEO
Michael L. Hollis, President
Teresa L. Dick, CFO
ProductsPetroleum
Natural gas
Natural gas liquids
Production output
282 thousand barrels of oil equivalent (1,730,000 GJ) per day (2019)
Revenue US$3.964 billion (2019)
US$0.240 billion (2019)
Total assets US$23.531 billion (2019)
Total equity US$14.906 billion (2019)
Number of employees
712 (2019)
Websitewww.diamondbackenergy.com
Footnotes / references
[1]

As of December 31, 2019, the company had 1,127 million barrels of oil equivalent (6.89×109 GJ) of estimated proved reserves, of which 63% was petroleum, 17% was natural gas, and 20% was natural gas liquids. The company's reserves are all in the Permian Basin.[1]

History

The company began operations in December 2007 with the acquisition of 4,174 net acres in the Permian Basin.[1]

In October 2012, the company became a public company via an initial public offering, issuing 12,500,000 shares of common stock at a price of $17.50 per share.[2]

In March 2017, the company acquired assets from Brigham Resources Operating, LLC and Brigham Resources Midstream, LLC for $2.55 billion.[3]

In October 2018, the company acquired the assets of Ajax Resources.[4]

In November 2018, the company acquired Energen.[5]

In December 2020, the company announced it would be acquiring QEP Resources for $2.2 billion (including QEP’s net debt of $1.6 billion)[6] and Guidon Operating LLC for 10.63 million shares of Diamondback common stock and $375 million of cash.[7]

References
  1. "Diamondback Energy, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "Diamondback Energy, Inc. Completes Initial Public Offering of Common Stock" (Press release). Globe Newswire. October 17, 2012.
  3. "Diamondback Energy, Inc. Announces Closing of Acquisition from Brigham Resources" (Press release). Globe Newswire. March 1, 2017.
  4. "Diamondback Energy, Inc. Announces Third Quarter 2018 Financial and Operating Results" (Press release). Globe Newswire. November 6, 2018.
  5. "Diamondback Energy, Inc. Completes Acquisition of Energen Corporation" (Press release). Globe Newswire. November 29, 2018.
  6. "Diamondback Energy, Inc. to Acquire QEP Resources in All-Stock Transaction". Retrieved 2020-12-21.
  7. "Diamondback Energy, Inc. Announces Midland Basin Acquisition". Retrieved 2020-12-22.
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