Company type | Public |
---|---|
| |
ISIN | US25278X1090 |
Industry | Petroleum industry |
Headquarters | Midland, Texas, U.S. |
Key people | Steven E. West (chairman) Travis D. Stice (CEO) Daniel N. Wesson (COO) Kaes Van't Hof (CFO) |
Products | |
Production output | 375 thousand barrels of oil equivalent (2,290,000 GJ) per day (2021) |
Revenue | US$6.797 billion (2021) |
6,508,000,000 United States dollar (2022) | |
US$2.182 billion (2021) | |
Total assets | US$22.898 billion (2021) |
Total equity | US$13.245 billion (2021) |
Number of employees | 870 (2021) |
Website | www |
Footnotes /references [1] |
Diamondback Energy, Inc. is a company engaged in hydrocarbon exploration headquartered in Midland, Texas.
As of December 31, 2020, the company had 1,788 million barrels of oil equivalent (1.094×1010 GJ) of estimated proved reserves, of which 52% was petroleum, 24% was natural gas, and 24% was natural gas liquids. The company's reserves are all in the Permian Basin. [1]
As of February 2024, it is ranked 400th on the Fortune 500. [2] [3]
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. [4] [5]
In March 2017, the company acquired assets from Brigham Resources for $2.55 billion. [6] [7]
In October 2018, the company acquired the assets of Ajax Resources for $1.25 billion. [8] [9]
In November 2018, the company acquired Energen. [10]
In February 2021, the company acquired leasehold interests and assets from Guidon Resources for $375 million in cash and 10.68 million shares. [11] [12]
In March 2021, the company acquired QEP Resources. [12] [13]
A 2023 Bloomberg news story identified the company, as well as Permian Resources, as major contributors to the increase of flaring gas in the Permian oil field. [14]
In February 2024, it was reported Diamondback Energy and Endeavor Energy Resources were in final discussions toward a merger that would create an oil-and-gas giant worth more than $50 billion. [15]
In January 2024, a class action lawsuit was filed accusing Diamondback, along with seven other US oil and gas producers, of an illegal price-fixing scheme to constrain production of shale oil, allegedly leading to drivers in the US paying more for gasoline than they would have in a competitive market. [16]
Ovintiv Inc. is an American independent petroleum company. The company was formed in 2020 through a restructuring of its Canadian predecessor, Encana. Ovintiv is incorporated in Delaware and headquartered in Denver, Colorado.
Marathon Oil Corporation is an American company engaged in hydrocarbon exploration incorporated in Ohio and headquartered at 990 Town and Country Boulevard in Houston, Texas. A direct descendant of Standard Oil, it also runs international gas operations focused on Equatorial Guinea, offshore Central Africa.
Devon Energy Corporation is an energy company engaged in hydrocarbon exploration in the United States. It is organized in Delaware and its corporate operative headquarters are in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its primary operations are in the Barnett Shale STACK formation in Oklahoma, Delaware Basin, Eagle Ford Group, and the Rocky Mountains.
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Vital Energy, Inc. is an American company engaged in hydrocarbon exploration incorporated in Delaware with its principal operational headquarters located in Tulsa, Oklahoma.
Cimarex Energy Co. was a company engaged in hydrocarbon exploration, particularly shale oil and gas drilling. It was organized in Delaware and headquartered in Denver, Colorado, with operations primarily in Texas, Oklahoma, and New Mexico.
WPX Energy, Inc. was a company engaged in hydrocarbon exploration. It was organized in Delaware and headquartered in Tulsa, Oklahoma. In 2021, the company merged with Devon Energy.
Chord Energy Corporation is a company engaged in hydrocarbon exploration and hydraulic fracturing in the Williston Basin in North Dakota and Montana. It is organized in Delaware and headquartered in Houston, Texas, with an office in Williston, North Dakota. The company was formerly known as Oasis Petroleum.
Concho Resources Inc. was a company engaged in hydrocarbon exploration, incorporated and organized in Delaware and headquartered in Midland, Texas, with operations exclusively in the Permian Basin. In 2021, the company was acquired by ConocoPhillips.
Ben M. "Bud" Brigham is an American oil and gas explorer, entrepreneur, and investor.