Diamondback Energy Inc - FANG

Diamondback Energy Inc. is an independent oil and natural gas company based in Midland, Texas. It primarily focuses on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves, with a concentrated presence in the Permian Basin in West Texas. Diamondback Energy produces crude oil, natural gas, and natural gas liquids that serve as key inputs for the energy, power, and manufacturing sectors, supplying essential fuels and feedstocks for industrial and commercial use. The company operates mainly through upstream activities, centered on horizontal drilling and fracking across multiple productive formations in the Permian Basin, and complements this with midstream services that manage gathering systems for crude oil and natural gas. By concentrating on one of the most prolific hydrocarbon regions in the United States, Diamondback Energy plays a significant role in domestic energy supply, contributing to reliability and continuity in the oil and gas market. Founded in 2007 and headquartered in Midland, Texas, the company today is recognized as a major pure-play operator in the Permian Basin.