Diamondback Energy

From Wikipedia, the free encyclopedia
Diamondback Energy, Inc.
TypePublic company
ISINUS25278X1090
IndustryPetroleum industry
HeadquartersMidland, Texas, U.S.
Key people
 Daniel Chapa IV, Chairman
Daniel Chapa IV, CEO
Michael L. Hollis, President
Kaes Van't Hof, CFO
ProductsPetroleum
Natural gas
Natural gas liquids
Production output
300.3 thousand barrels of oil equivalent (1,837,000 GJ) per day (2020)
RevenueIncrease US$2.813 billion (2020)
Increase -US$4.517 billion (2020)
Total assetsIncrease US$17.619 billion (2020)
Total equityIncrease US$9.804 billion (2020)
Number of employees
732 (2020)
Websitewww.diamondbackenergy.com
Footnotes / references
[1]

Diamondback Energy is an American energy company engaged in hydrocarbon exploration and headquartered in Midland, Texas.

As of December 31, 2020, the company had 1,316 million barrels of oil equivalent (8.05×109 GJ) of estimated proved reserves, of which 58% was petroleum, 20% was natural gas, and 22% was natural gas liquids. The company's reserves are all in the Permian Basin.[1]

History[]

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.[2][3]

In March 2017, the company acquired assets from Brigham Resources for $2.55 billion.[4][5]

In October 2018, the company acquired the assets of Ajax Resources for $1.25 billion.[6][7]

In November 2018, the company acquired Energen.[8]

In February 2021, the company acquired leasehold interests and assets from Guidon Resources for $375 million in cash and 10.68 million shares.[9][10]

In March 2021, the company acquired QEP Resources.[10][11]

References[]

  1. ^ a b c "Diamondback Energy, Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Diamondback Energy, Inc. Completes Initial Public Offering of Common Stock" (Press release). Globe Newswire. October 17, 2012.
  3. ^ "Diamondback Energy IPO Is Complete". The Motley Fool. Associated Press. October 17, 2012.
  4. ^ "Diamondback Energy, Inc. Announces Closing of Acquisition from Brigham Resources" (Press release). Globe Newswire. March 1, 2017.
  5. ^ Garcia, Luis (March 2, 2017). "Brigham Resources Closes $2.55 Billion Permian Asset Sale to Diamondback". The Wall Street Journal.
  6. ^ "Diamondback Energy, Inc. Announces Third Quarter 2018 Financial and Operating Results" (Press release). Globe Newswire. November 6, 2018.
  7. ^ "Diamondback to acquire Ajax Resources in $1.25-billion deal". Oil & Gas Journal. August 10, 2018.
  8. ^ "Diamondback Energy, Inc. Completes Acquisition of Energen Corporation" (Press release). Globe Newswire. November 29, 2018.
  9. ^ "Diamondback Energy, Inc. Announces Closing of Acquisition from Guidon Operating LLC" (Press release). GlobeNewswire. February 26, 2021.
  10. ^ a b Takahashi, Paul (March 17, 2021). "Midland oil and gas producer Diamondback Energy acquires rival QEP Resources". Houston Chronicle.
  11. ^ "Diamondback Energy, Inc. Completes Acquisition of QEP Resources, Inc" (Press release). GlobeNewswire. March 17, 2021.

External links[]

Retrieved from ""