Diamondback Energy Analysis
What is Diamondback Energy?
Texas-based independent oil and gas company
Employees
1001-5000
Founded
2007
Industry
Fossil Fuels
Product Features & Capabilities
- Oil and natural gas exploration
- Development of unconventional reserves
- Horizontal drilling in Wolfcamp, Spraberry, and Bone Spring formations
Sustainability Initiatives
- Environmental Strategy - The company is committed to reducing energy consumption and lowering greenhouse gas emissions. They implement various emissions controls and have set goals to reduce their greenhouse gas and methane emissions intensities.
- Electric Fracturing - In collaboration with Halliburton and VoltaGrid, Diamondback Energy has adopted electric fracturing technology in the Permian Basin, which modernizes hydraulic fracturing while reducing environmental impact.
- Corporate Sustainability Reports - Diamondback regularly publishes corporate sustainability reports that outline their approach to sustainability, environmental responsibility, risk management, and governance.
- Commitment to ESG - The company emphasizes its commitment to environmental, social, and governance (ESG) matters, focusing on protecting people and operating responsibly. For more detailed information, you can refer to their official sustainability page and reports.
Recent News
- Insider Trading - Travis D. Stice, the CEO of Diamondback Energy, sold $517,536 worth of stock in the company.
- Investment Potential - Diamondback Energy has been highlighted as one of the best cheap energy stocks to invest in currently.
- Mergers and Acquisitions - The company has played a significant role in driving a record start to upstream merger and acquisition activity in the Permian Basin, particularly noted in the first quarter of 2024.
Competitors
- EOG Resources Inc - Headquarters: United States - Revenue: $23.7 billion - Description: EOG Resources is one of the largest independent oil and natural gas companies in the United States, focusing on the exploration and production of oil and natural gas.
- Pioneer Natural Resources Co - Headquarters: United States - Revenue: $19.4 billion - Description: Pioneer is a leading independent oil and gas exploration and production company, primarily operating in the Permian Basin.
- Devon Energy Corporation - Headquarters: United States - Revenue: $24.26 billion - Description: Devon Energy is engaged in the exploration and production of oil and natural gas, with a strong focus on the U.S. market.
- Hess Corporation - Headquarters: United States - Description: Hess is a global independent energy company involved in the exploration and production of crude oil and natural gas.
- EQT Corporation - Headquarters: United States - Description: EQT focuses on the exploration and production of natural gas, primarily in the Appalachian Basin.
- Canadian Natural Resources Limited - Headquarters: Canada - Description: A significant player in the oil and gas sector, Canadian Natural Resources is involved in the exploration, development, and production of crude oil and natural gas.
- Occidental Petroleum Corporation (Oxy) - Headquarters: United States - Description: Occidental is an international oil and gas exploration and production company, with operations in the U.S. and several other countries.
HQ Full Address
500 West Texas Avenue, Suite 1200, Midland, Texas 79701, United States
