Diamondback Energy (NASDAQ:FANG) is an independent exploration and production company primarily engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas. Headquartered in Midland, Texas, the company focuses on the efficient extraction of crude oil, natural gas liquids (NGLs) and condensate through horizontal drilling and completion activities. In addition to upstream operations, Diamondback maintains midstream and marketing systems that support gathering, processing and transportation of hydrocarbons.
Founded in 2007 by Travis Stice and experienced Permian Basin operator Ashley Heppenstall, Diamondback Energy completed its initial public offering in 2012. Since then, the company has grown both organically and through strategic acquisitions, including the purchase of Brigham Resources in 2018 and Energen Corporation in 2018, expanding its asset footprint across the Midland and Delaware sub-basins. These transactions have bolstered production volumes and enhanced operational scale, positioning Diamondback as one of the leading producers in the region.
Diamondback employs advanced drilling technologies and completion techniques—such as pad drilling and multistage hydraulic fracturing—to optimize well performance and capital efficiency. The company places strong emphasis on water management and recycling initiatives, leveraging proprietary processes to reduce freshwater use and lower environmental impact. Through integrated midstream infrastructure, Diamondback captures value across the full hydrocarbon stream, maintaining control over the gathering, processing, storage and marketing of its production.
Leadership at Diamondback is anchored by co-founder and Chief Executive Officer Travis Stice, with financial oversight from Chief Financial Officer Stephen West. The senior management team combines technical expertise with financial discipline, driving a capital allocation strategy focused on sustaining production growth, reducing unit costs and returning value to shareholders. Diamondback also maintains a commitment to safety, environmental stewardship and community engagement as part of its corporate governance framework.
