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Diamondback Energy, Inc.

Company Summary

Description

Diamondback Energy is an independent oil and natural gas company headquartered in Midland, TX. Diamondback’s growth strategy is focused on the acquisition, development, exploration and exploitation of unconventional, long-life, onshore oil and natural gas reserves in the major oil producing Permian Basin in West Texas. The Company’s operations are directed primarily at the large acreage areas of the Clearfork, Spraberry, Wolfcamp, Cline, Strawn and Atoka formations, collectively known as the Wolfberry Trend.

Website

http://www.diamondbackenergy.com/

Operational Regions

  • Permian Basin

Financial Data:

NASDAQ:FANG from Google Finance

Tickers:

  • FANG - NASDAQ

Related Entities

Firm Transport Commitments

Project: EPIC Crude Pipeline
Firm Commitment: 50 M Bbls/d

Recent news

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Investor Presentations

  • 4Q22 Earnings Presentation
  • 3Q22 Earnings Presentation (subscriber access)
  • 1Q22 Earnings Presentation (subscriber access)
  • 3Q21 Investor Presentation (subscriber access)
  • 2Q21 Earnings Presentation (subscriber access)
  • FANG Midland Basin Acquisitions - 4Q20 (subscriber access)
  • 2Q20 Investor Presentation (subscriber access)
  • 1Q20 Earnings Presentation (subscriber access)
  • November 2019 (subscriber access)
  • August 2019 Presentation (subscriber access)
  • May 2019 Presentation (subscriber access)
  • February 2019 Investor Presentation (subscriber access)
  • 3Q18 Investor Presentation (subscriber access)
  • Energen Acquisition Presentation (subscriber access)
  • 2Q18 Investor Presentation (subscriber access)
  • 1Q18 Investor Presentation (subscriber access)
  • February 2018 Investor Presentation (subscriber access)
  • 3Q17 Investor Presentation (subscriber access)
  • 1Q17 Investor Presentation (subscriber access)
  • February 2017 Investor Presentation (subscriber access)
  • Investor Presentation - November 2016 (subscriber access)
  • August 2016 Investor Presentation (subscriber access)

Company Transactions

Date: 11/2/2021
Type: Acquisition

BUYERS:
  • Brazos Midland, LLC
    • SELLERS:
  • Diamondback Energy, Inc.
    • DETAILS:

    COST: 54 $MM

    NOTES:
    Diamondback Energy has entered into a deal with Brazos Midland to sell select gas gathering assets for $54 million.
    REGIONS:
  • Delaware Basin

    • Date: 7/30/2021
    Type: Acquisition

    BUYERS:
  • Oasis Petroleum Inc.
    • SELLERS:
  • Diamondback Energy, Inc.
    • DETAILS:

    COST: 745 $MM

    VOLUMES: 27 MBOE/d

    ACRES: 95000 Acres

    NOTES:
    Oasis Petroleum has entered into a deal with Diamondback Energy to acquire select Williston Basin assets for $745 million. They will finance this with $106 million in cash on hand, revolver borrowings and a bridge loan. Closing is targeted in July 2021.
    REGIONS:
  • Williston Basin

    • Date: 3/31/2021
    Type: Acquisition

    BUYERS:
  • Diamondback Energy, Inc.
    • SELLERS:
  • QEP Energy Company
    • DETAILS:

    COST: 2.2 $B

    VOLUMES: 47.6 MBOE/d

    ACRES: 49000 Acres

    NOTES:
    Diamondback Energy is acquiring QEP Resources via an all-stock deal valued at $2.2 billion, which will include $1.6 billion in QEP debt. Diamondback will grant 0.05 shares of stock for each share of QEP held, which gives a value of $2.29/share for QEP. With regards to assets, Diamondback is gaining 49,000 net acres in the Midland Basin and they will divest QEP's Williston assets moving forward. Total QEP third quarter 2020 volumes were 76.7 Mboe/d (48.3 Mbbl/d of oil), with the Permian accounting for 47.6 Mboe/d (30.5 Mbbl/d in oil.) Also, QEP has 48 Permian DUC's that will be developed in 2021.
    REGIONS:
  • Permian Basin
  • Midland Basin

    • Date: 2/28/2021
    Type: Acquisition

    BUYERS:
  • Diamondback Energy, Inc.
    • SELLERS:
  • Guidon Energy
    • DETAILS:

    COST: 862 $MM

    VOLUMES: 17.9 MBOE/d

    ACRES: 32500 Acres

    NOTES:
    Diamondback Energy has entered into a deal to acquire all assets of Guidon Operating LLC for $375 million in cash and 10.63 million shares of Diamondback common stock, with a total deal valuation of $862 million. The deal will add 32,500 net acres in the Northern Midland Basin and 3Q20 production of 17.9 Mboe/d (11.6 Mbbl/d in oil.) Closing is targeted for late-February 2021.
    REGIONS:
  • Permian Basin
  • Midland Basin

    • Date: 7/1/2019
    Type: Acquisition

    SELLERS:
  • Diamondback Energy, Inc.
    • DETAILS:

    COST: 322 $MM

    VOLUMES: 6.5 MBOE/d

    NOTES:
    Diamondback reported the divestiture of 103,423 net acres, comprised of assets in the Central Basin Platform, Eastern Shelf in West Texas and the Northwest Shelf in New Mexico acquired in the Energen deal. The Company is also divesting 6,589 net acres of non-core Southern Midland Basin acreage in Crockett and Reagan counties. The combined purchase price for the assets is $322 million.
    REGIONS:
  • Permian Basin

    • Date: 12/1/2018
    Type: Acquisition

    BUYERS:
  • Diamondback Energy, Inc.
    • SELLERS:
  • Energen Corp.
    • DETAILS:

    COST: 9.2 $B

    VOLUMES: 97.3 MBOE/d

    ACRES: 179000 Acres

    NOTES:
    Diamondback offered a consideration of 0.6442 shares of common stock for each share of Energen stock, implying a value of $84.95/share based on the August 14, 2018 closing price.
    REGIONS:
  • Delaware Basin
  • Midland Basin

    • Date: 10/31/2018
    Type: Acquisition

    BUYERS:
  • Diamondback Energy, Inc.
    • SELLERS:
  • Ajax Resources
    • DETAILS:

    COST: 1.248 $B

    VOLUMES: 12 MBOE/d

    ACRES: 25493 Acres

    REGIONS:
  • Midland Basin

    • Date: 8/30/2018
    Type: Acquisition

    BUYERS:
  • Viper Energy Partners LP
    • SELLERS:
  • Diamondback Energy, Inc.
    • DETAILS:

    COST: 175 $MM

    ACRES: 1696 Acres

    NOTES:
    Viper Energy Partners announced the drop down of 1,696 net acres from Diamondback for $175 million during 3Q18. In combination with the 760 net royalty acres purchased from unrelated third parties in 3Q18, the Company now holds a total of 13,908 net royalty acres.
    REGIONS:
  • Permian Basin

    • Date: 8/15/2018
    Type: Acquisition

    BUYERS:
  • Viper Energy Partners LP
    • SELLERS:
  • Diamondback Energy, Inc.
    • DETAILS:

    COST: 175 $MM

    ACRES: 1696 Acres

    NOTES:
    Drop down acquisition of 1,696 net royalty acres for $175 million
    REGIONS:
  • Permian Basin

    • Date: 9/30/2017
    Type: Acquisition

    BUYERS:
  • Diamondback Energy, Inc.
    • DETAILS:

    COST: 102

    ACRES: 1950 Acres

    NOTES:
    Diamondback acquired over 1,000 net acres of leasehold and over 950 net royalty acres of minerals for $102 million during the third quarter.
    REGIONS:
  • Permian Basin

    • Date: 2/26/2017
    Type: Acquisition

    BUYERS:
  • Diamondback Energy, Inc.
    • SELLERS:
  • Brigham Resources, LLC
  • Brigham Resources Midstream Llc
    • DETAILS:

    COST: 2.43 $B

    VOLUMES: 9.482 MBOE/d

    ACRES: 76319 Acres

    NOTES:
    Diamondback Energy will finance the deal with $1.62 billion in cash and 7.69 million shares of Diamondback common stock. The acreage is located in Pecos and Reeves counties in Texas.
    REGIONS:
  • Delaware Basin

    • Date: 6/13/2016
    Type: Acquisition

    BUYERS:
  • Diamondback Energy, Inc.
    • SELLERS:
  • Luxe Energy
    • DETAILS:

    COST: 560 $MM

    VOLUMES: 1 MBOE/d

    ACRES: 19180 Acres

    REGIONS:
  • Delaware Basin
  • Midland Basin