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Diamondback Energy

Logo: https://www.diamondbackenergy.com, Non-free logo, via Wikipedia⁵

U.S. energy company

Diamondback Energy, headquartered in Midland, Texas, is an American company engaged in hydrocarbon exploration in the Permian Basin. As of December 31, 2024, the company had 3,557 million barrels of oil equivalent (2.176×1010 GJ) of estimated proved reserves, of which 49% was petroleum, 24% was natural gas, and 27% was natural gas liquids.³ From Wikipedia, CC BY-SA 4.0

$194.46 down 3.06 (1.55%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

Jan 1, 2007Founded¹

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TickerFANG on Nasdaq¹
Industrypetroleum industry¹
HeadquartersMidland¹
Websitewww.diamondbackenergy.com
Legal formDelaware corporation¹
Incorporated inDE⁶
Business address500 West Texas Avenue, Suite 100, Midland, Tx 79701⁶
Filer categoryLarge accelerated filer⁶

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Diamondback Energy, headquartered in Midland, Texas, is an American company engaged in hydrocarbon exploration in the Permian Basin.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

8.4%Operating margin⁸

11.1%Net margin⁸

35.8%Revenue growth, 2025⁸

4.5%Return on equity⁸

0.37×Debt to equity⁸

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Aggregate Revenues brought in 50% of the revenue Diamondback Energy broke down this way in fiscal 2025.

Aggregate Revenues$15.0B⁸50%up 36% from 2024
Oil Exploration and Production$11.6B⁸39%up 28% from 2024
Oil Purchased$1.5B⁸5%up 60% from 2024
Natural Gas Liquids Production$1.4B⁸5%up 52% from 2024
Natural Gas, Production$400.0M⁸1%up 349% from 2024

Products and services by year

Products and services	2023	2024	2025
Aggregate Revenues	$8.4B	$11.1B	$15.0B
Oil Exploration and Production	$7.3B	$9.1B	$11.6B
Oil Purchased	$111.0M	$923.0M	$1.5B
Natural Gas Liquids Production	$687.0M	$944.0M	$1.4B
Natural Gas, Production	$262.0M	$89.0M	$400.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Other costsProfit

Selling, general and admin2¢$288.0M
Other costs83¢$12.5B
Interest2¢$244.0M
Income tax2¢$327.0M
Profit11¢$1.7B

Out of $15.0B in revenue.⁸

Where each dollar of operating cash went, fiscal 2025

Dividends paidKept or used elsewhere

Dividends paid13¢$1.2B
Kept or used elsewhere87¢$7.6B

Out of $8.8B of cash from operations.⁸

Financial statements

Revenue⁹¹⁰⁸$15.0B in 2025+287% since 2019

Operating income⁹¹⁰¹¹¹²⁸$1.3B in 2025+82% since 2019

Net income⁹¹⁰¹¹¹²⁸$1.7B in 2025+593% since 2019

Every line of the income statement in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Other operating income	$97.0M	$43.0M	$73.0M
Total revenues	$15.0B	$11.1B	$8.4B
Lease operating expenses	$1.9B	$1.3B	$872.0M
Production and ad valorem taxes	$851.0M	$638.0M	$525.0M
Gathering, processing and transportation	$515.0M	$356.0M	$287.0M
Purchased oil expense	$1.5B	$921.0M	$111.0M
Depreciation, depletion, amortization and accretion	$5.0B	$2.9B	$1.7B
Impairment of oil and natural gas properties	$3.7B	$0	$0
General and administrative expenses	$288.0M	$213.0M	$150.0M
Other operating expenses, net	$77.0M	$406.0M	$151.0M
Total costs and expenses	$13.8B	$6.7B	$3.8B
Income (loss) from operations	$1.3B	$4.4B	$4.6B
Interest expense, net	-$244.0M	-$135.0M	-$159.0M
Other income (expense), net	$455.0M	$101.0M	$100.0M
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$341.0M	$137.0M	-$259.0M
Gain (loss) on extinguishment of debt, net	$56.0M	$2.0M	-$4.0M
Total other income (expense), net	$608.0M	$105.0M	-$322.0M
Income (loss) before income taxes	$1.9B	$4.5B	$4.2B
Provision for (benefit from) income taxes	$327.0M	$800.0M	$912.0M
Net income (loss)	$1.5B	$3.7B	$3.3B
Net income (loss) attributable to non-controlling interest	-$117.0M	$363.0M	$193.0M
Net income (loss) attributable to Diamondback Energy, Inc.	$1.7B	$3.3B	$3.1B
Basic (in dollars per share)	$5.73	$15.53	$17.34
Diluted (in dollars per share)	$5.73	$15.53	$17.34
Basic (in shares)	289.1M shares	213.5M shares	180.0M shares
Diluted (in shares)	289.1M shares	213.5M shares	180.0M shares
Pension and postretirement benefit plans	-$1.0M	$2.0M	-$1.0M
Comprehensive income (loss) attributable to Diamondback Energy, Inc	$1.7B	$3.3B	$3.1B

Total assets⁹¹⁰¹¹¹²⁸$71.1B in 2025+202% since 2019

Total liabilities¹⁵⁹¹⁰¹¹¹²⁸$28.1B in 2025+226% since 2019

Shareholders’ equity¹⁵⁹¹⁰¹¹¹²⁸$37.0B in 2025+179% since 2019

Cash¹⁵⁹¹⁰¹¹¹²⁸$104.0M in 2025−15% since 2019

Long-term debt¹⁵⁹¹⁰¹¹¹²⁸$13.7B in 2025+156% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents ($13 million and $27 million related to Viper)	$104.0M	$161.0M
Restricted cash	$2.0M	$3.0M
Joint interest and other, net	$258.0M	$198.0M
Inventories	$86.0M	$116.0M
Prepaid expenses and other current assets ($50 million and $31 million related to Viper)	$337.0M	$245.0M
Total current assets	$1.9B	$2.1B
Proved properties ($9,746 million and $3,533 million related to Viper)	$71.6B	$59.6B
Unproved properties ($4,910 million and $2,180 million related to Viper)	$23.9B	$22.7B
Other property, equipment and land	$874.0M	$1.4B
Accumulated depletion, depreciation, amortization and impairment ($2,455 million and $1,081 million related to Viper)	-$27.8B	-$19.2B
Property and equipment, net	$68.6B	$64.5B
Other assets	$523.0M	$710.0M
Total assets	$71.1B	$67.3B
Accounts payable and accrued capital expenditures	$1.2B	$943.0M
Current maturities of debt	$763.0M	$900.0M
Other accrued liabilities	$1.1B	$1.0B
Revenues and royalties payable	$1.4B	$1.5B
Derivative instruments	$15.0M	$43.0M
Income taxes payable	$149.0M	$414.0M
Total current liabilities	$4.6B	$4.8B
Deferred income taxes	$9.1B	$9.8B
Other long-term liabilities	$625.0M	$718.0M
Total liabilities	$28.1B	$27.4B
Common stock, $0.01 par value; 800,000,000 shares authorized; 284,594,908 and 290,984,373 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	$3.0M	$3.0M
Additional paid-in capital	$32.2B	$33.5B
Retained earnings (accumulated deficit)	$4.7B	$4.2B
Accumulated other comprehensive income (loss)	-$7.0M	-$6.0M
Total Diamondback Energy, Inc. stockholders equity	$37.0B	$37.7B
Non-controlling interest	$6.0B	$2.1B
Total equity	$43.0B	$39.9B	$17.4B
Total liabilities and stockholders equity	$71.1B	$67.3B
Accounts receivable	$1.1B	$1.4B
Long-term debt	$13.7B	$12.1B
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	800.0M shares	800.0M shares
Common stock, shares issued (in shares)	284.6M shares	291.0M shares
Common stock, shares outstanding (in shares)	284.6M shares	291.0M shares

Cash from operations⁹¹⁰¹¹¹²⁸$8.8B in 2025+220% since 2019

Dividends paid⁹¹⁰¹¹¹²⁸$1.2B in 2025+932% since 2019

Share buybacks⁹¹⁰¹¹¹²$959.0M in 2024+62% since 2019

Every line of the cash flow in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income (loss)	$1.5B	$3.7B	$3.3B
Provision for (benefit from) deferred income taxes	-$519.0M	$15.0M	$378.0M
Depreciation, depletion, amortization and accretion	$5.0B	$2.9B	$1.7B
Impairment of oil and natural gas properties	$3.7B	$0	$0
(Gain) loss on extinguishment of debt	-$56.0M	-$2.0M	$4.0M
(Gain) loss on derivative instruments, net	-$341.0M	-$137.0M	$259.0M
Cash received (paid) on settlement of derivative instruments	$181.0M	-$51.0M	-$110.0M
Other	-$430.0M	$133.0M	$11.0M
Accounts receivable	$386.0M	-$42.0M	-$71.0M
Accounts payable and accrued liabilities	-$343.0M	-$376.0M	$57.0M
Income taxes payable	-$399.0M	$87.0M	-$5.0M
Revenues and royalties payable	$15.0M	$168.0M	$123.0M
Other	$27.0M	$67.0M	$192.0M
Net cash provided by (used in) operating activities	$8.8B	$6.4B	$5.9B
Additions to oil and natural gas properties	-$3.5B	-$2.9B	-$2.7B
Property acquisitions	-$5.9B	-$8.9B	-$2.0B
Proceeds from sale of assets	$1.7B	$467.0M	$1.4B
Other	-$18.0M	$99.0M	-$16.0M
Net cash provided by (used in) investing activities	-$7.8B	-$11.2B	-$3.3B
Proceeds from debt	$15.0B	$9.9B	$5.2B
Repayment of debt	-$13.5B	-$3.5B	-$4.8B
Proceeds from partial sale of investment in Viper	$0	$451.0M	$0
Net proceeds from Vipers issuance of common stock	$1.2B	$476.0M	$0
Dividends paid to stockholders	-$1.2B	-$1.6B	-$1.4B
Dividends/distributions to non-controlling interest	-$382.0M	-$227.0M	-$129.0M
Other	-$266.0M	-$149.0M	-$140.0M
Net cash provided by (used in) financing activities	-$1.0B	$4.4B	-$2.2B
Net increase (decrease) in cash, cash equivalents and restricted cash	-$58.0M	-$421.0M	$421.0M

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The story

The company began operations in December 2007 with the acquisition of 4,174 net acres in the Permian Basin. 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 at its opening on Nasdaq under the ticker symbol FANG, in reference to a snake's tooth; the company's logo at the time featured a Western diamondback rattlesnake.

In March 2017, the company acquired assets from Brigham Resources for $2.55 billion. In October 2018, the company acquired the assets of Ajax Resources for $1.25 billion. In November 2018, the company acquired Energen.

In February 2021, the company acquired leasehold interests and assets from Guidon Resources for $375 million in cash and 10.68 million shares. In March 2021, the company acquired QEP Resources.

In October 2023, the company was accused of being a major contributor to the increase of flaring gas in the Permian Basin.

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 causing drivers in the US paying more for gasoline than they would have in a competitive market. The case is now part of a consolidated multidistrict litigation in New Mexico to be heard by judge Matthew L. Garcia. In September 2024, the company acquired Endeavor Energy Resources.

In April 2025, the company acquired Double Eagle IV for $3 billion in cash and 6.9 million shares of stock.

From Wikipedia’s article on Diamondback Energy, shared under CC BY-SA 4.0.⁷

Products and brands

petroleum

Listed on Wikidata.¹

Former names

Diamondback Energy, Inc.Feb 14, 2012 to Oct 8, 2026⁶

Timeline

Oct 12, 2012Went public Listed on NASDAQ¹
Jan 1, 2007Founded Founded¹

Recent filings

Oct 8, 20268-K
Oct 7, 20264
Oct 5, 2026144
Sep 30, 20268-K
Sep 24, 2026SD
Sep 17, 20264
Sep 17, 20264
Sep 17, 20264
Sep 17, 20264
Sep 17, 20264
Sep 17, 2026SCHEDULE 13D/A
Sep 16, 2026144
Sep 15, 2026144
Sep 15, 2026144
Sep 14, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataDiamondback Energy on Wikidata
2
SEC EDGARDiamondback Energy filings on SEC EDGAR
3
WikipediaDiamondback Energy on Wikipedia
4
Yahoo FinanceFANG quote
5
Wikimedia CommonsDiamondback Energy logo by https://www.diamondbackenergy.com, Non-free logo
6
SEC EDGARDiamondback Energy filings on SEC EDGAR
7
WikipediaDiamondback Energy on Wikipedia (revision used)
8
SEC EDGARDiamondback Energy 10-K for fiscal 2025
9
SEC EDGARDiamondback Energy 10-K for fiscal 2019
10
SEC EDGARDiamondback Energy 10-K for fiscal 2020
11
SEC EDGARDiamondback Energy 10-K for fiscal 2021
12
SEC EDGARDiamondback Energy 10-K for fiscal 2022
13
SEC EDGARDiamondback Energy 10-Q for fiscal 2026
14
SEC EDGARDiamondback Energy 10-Q for fiscal 2026
15
SEC EDGARDiamondback Energy 10-K for fiscal 2019