Diamondback Energy’s bold plan to integrate data centers and Oklo’s Aurora Powerhouse units into its operations is a testament to the company’s forward-thinking strategy. By leveraging its natural gas resources, surface acreage, and partnerships with innovative technology providers, Diamondback is not only diversifying its business but also paving the way for a sustainable and prosperous future in the Permian Basin.

Diamondback Energy, a leading name in oil and gas, recently shared exciting developments in its Q3 2024 report. Their approach highlights efficiency improvements through cutting-edge technologies like optimized drilling rigs, clear fluid drilling, and SimulFrac completions. Here, we break down Diamondback’s advancements and what these could mean for the future of oil production.

Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), today announced that it has closed its merger with Endeavor Energy Resources, L.P. (“Endeavor”).

iamondback is exploring opportunities to create local markets, such as the Verde gas-to-gasoline plant, to avoid selling gas at low or negative prices.

In the first half of 2024, Diamondback Energy increased its production guidance and lowered its annual capex due to improved operational efficiencies. The merger with Endeavor Energy Resources is progressing, with expected closure in Q3 or Q4. Q2 highlights include drilling 80 wells, exceeding production guidance with 276.1 MBO/d, and generating $841 million in Adjusted Free Cash Flow. The company declared dividends totaling $2.34 per share and repurchased 19.3 million shares, with a strong focus on cost control and capital discipline.

Diamondback Energy’s FANG joint venture (JV) with Five Point Energy LLC, Deep Blue Midland Basin, has acquired the water infrastructure assets from Lagoon Operating Midland. The acquisition underscores the JV’s commitment to sustainable water management practices at the heart of the Midland Basin. The financial details of the transaction have not been disclosed.

Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) today announced the sale of WTG Midstream Holdings LLC to Energy Transfer LP