Diamondback Energy

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Website

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Address

500 W TEXAS AVE STE 1200
Midland, TX, 79701-4203

Phone

405.463.6900

Company Description

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. 

Diamondback Energy drilled 566 wells in 2023 and 178 wells for the first 6 months of 2024.

Resent News

Diamondback Energy reported Q1 2025 average production of 850.7 MBOE/d, with oil contributing 475.9 MBO/d and realized prices averaging $70.95 per barrel of oil. The company generated a total derivative gain of $226 million and spent $942 million in capital expenditures, while repurchasing over 3.6 million shares for $575 million. Amid ongoing market volatility, Diamondback is reviewing its 2025 operating plan with flexibility to reduce activity and lower breakeven costs if low commodity prices persist

Operations

Diamondback holds about 268,000 net Midland basin acres and 153,000 net Delaware basin acres.

Diamondback Counties Property Owned

Martin County, TX ranks #3 in the state for BOE produced in the most recent month (Jun 2022).

Andrews County, TX ranks #15 in the state for BOE produced in the most recent month (Jun 2022).

Midland County, TX ranks #1 in the state for BOE produced in the most recent month (Jun 2022).

Glasscock County, TX ranks #11 in the state for BOE produced in the most recent month (Jun 2022).

Reeves County, TX ranks #2 in the state for BOE produced in the most recent month (Jun 2022).

Pecos County, TX ranks #19 in the state for BOE produced in the most recent month (Jun 2022).

Additional counties include Howard & Ward counties