Logo: https://www.diamondbackenergy.com, Non-free logo, via Wikipedia6
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. It is ranked 383rd on the Fortune 500 and 471st on the Forbes Global 2000.3 Its revenue was $9.6 billion in 2022.1 Its shares trade on Nasdaq under the symbol FANG.1Wikipedia text CC BY-SA 4.0
$203.92up 8.32 (4.25%)Price as of Oct 16, 2026 at 19:58 UTC
Revenue111210$15.0B in 2025+287% since 2019Operating income1112131410$1.3B in 2025+82% since 2019Net income1112131410$1.7B in 2025+593% since 2019
Revenue1516$5.6B in Q2 FY2026+31% since Q1 FY2026Operating income1516$2.5B in Q2 FY2026+2066% since Q1 FY2026Net income1516$1.9B in Q2 FY2026+7428% since Q1 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.10
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
No quarter-by-quarter statement was filed.
Total assets1112131410$71.1B in 2025+202% since 2019Total liabilities171112131410$28.1B in 2025+226% since 2019Shareholders’ equity171112131410$37.0B in 2025+179% since 2019Cash171112131410$104.0M in 2025−15% since 2019Long-term debt171112131410$13.7B in 2025+156% since 2019
Total assets1516$70.2B in Q2 FY2026−1% since Q1 FY2025Total liabilities1516$26.2B in Q2 FY2026−7% since Q1 FY2025Shareholders’ equity1516$37.9B in Q2 FY2026+3% since Q1 FY2025Cash1516$462.0M in Q2 FY2026+344% since Q1 FY2025Long-term debt1516$11.1B in Q2 FY2026−19% since Q1 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.10
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
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
$15.7B
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
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
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
$15.7B
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 operations1112131410$8.8B in 2025+220% since 2019Dividends paid1112131410$1.2B in 2025+932% since 2019Share buybacks11121314$959.0M in 2024+62% since 2019
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.10
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
Diamondback Energy sits at the top of its group. 11 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Diamondback Energy
Lyndal Greth Filed SCHEDULE 13D/A on Diamondback Energy, latest Sep 17, 2026 (8 filings since Sep 13, 2024)
Wellington Management CompanyFiled SCHEDULE 13G on Diamondback Energy, latest Aug 13, 2026 (3 filings since Feb 8, 2024)
DIAMONDBACK E&P LLC Subsidiary · 100% · Midland, Texas, United States
Eclipse Merger Sub II, LLC Subsidiary · Delaware, United States
Endeavor Energy Resources, L.P. Subsidiary · Texas, United States
QEP Energy Company Subsidiary · Delaware, United States
Viper Energy Partners LP Subsidiary · Delaware, United States
VNOM Holding Company LLC Subsidiary · Delaware, United States
Western Coachwhip LLC Subsidiary · Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (3 companies). Each entity in the chart links to its source.
What it owns
What Diamondback Energy reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
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.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
541 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 84 major events, 248 insider forms, 36 large holders, 153 other. The latest 20:
119 open-market trades by officers, directors and large owners since October 2021: 3 buys and 116 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Diamondback Energy is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).89
Risk factors and legal proceedings
The risks Diamondback Energy names in Item 1A of its 10-K filed Feb 25, 2026: 38 risks under these headings, as written.89
The nature of our business activities subjects us to certain hazards and risks. The following is a summary of the material risks relating to our business activities. We could also face additional risks and uncertainties not currently known to us or that we currently deem to be immaterial. If any of these risks actually occurs, it could materially harm our business, financial condition or results of operations and the trading price of our shares could decline.
Risks Related to the Oil and Natural Gas Industry and Our Business
Risks Related to Our Indebtedness
Risks Related to Our Common Stock
Geopolitics and market conditions for oil and natural gas, and particularly volatility in prices for oil and natural gas, have in the past adversely affected, and may in the future adversely affect, our revenue, cash flows, profitability, growth, production and the present value of our estimated reserves.
Our commodity price derivatives could result in financial losses, may fail to protect us from declines in commodity prices, prevent us from fully benefiting from commodity price increases and may expose us to other risks, including counterparty credit risk.
Changes in U.S. trade policy and the impact of tariffs may have a material adverse effect on our business and results of operations.
Risks relating to the transition to a low carbon economy could impose new costs on our operations that may have a material and adverse effect on us.
Changing political and social perspectives on climate change and other environmental, social and governance factors may create risks and uncertainties impacting our business.
Our targets related to sustainability and emissions reduction initiatives, including our public statements and disclosures regarding them, may expose us to numerous risks.
Our success depends on developing our existing leasehold acreage and finding, developing or acquiring additional reserves.
Our development and exploration operations and our ability to complete acquisitions require substantial capital and we may be unable to obtain needed capital or financing on satisfactory terms or at all, which could lead to a loss of properties and a decline in our oil and natural gas reserves.
The other 29 risks
Our failure to successfully identify, complete and integrate pending and future acquisitions of properties or businesses could reduce our earnings and slow our growth.
Our identified potential drilling locations, which are part of our anticipated future drilling plans, are susceptible to uncertainties that could materially alter the occurrence or timing of their drilling.
We may fail to meet our obligations to deliver specified quantities of oil under our oil purchase contracts, which will result in deficiency payments to the counterparty and may have an adverse effect on our operations.
The loss of one or more of our customers or their inability to meet their obligations may adversely affect our financial results.
Our method of accounting for investments in oil and natural gas properties may result in impairment of asset value.
Our estimated reserves and EURs are based on many assumptions that may turn out to be inaccurate. Any material inaccuracies in these reserve estimates or underlying assumptions will materially affect the quantities and present value of our reserves.
The standardized measure of our estimated proved reserves is not necessarily the same as the current market value of our estimated proved reserves.
Our producing properties are located in the Permian Basin of West Texas, making us vulnerable to risks (including weather-related risks) associated with operating in a single geographic area. In addition, we have a large amount of proved reserves attributable to a small number of producing horizons within this area.
The unavailability, high cost or shortages of rigs, equipment, raw materials, supplies, oilfield services or personnel may restrict our operations.
Our operations are substantially dependent on the availability of water. Restrictions on our ability to obtain water may have an adverse effect on our financial condition, results of operations and cash flows.
Recent regulatory restrictions on the disposal of produced water and additional monitoring and reporting requirements related to existing and new produced water disposal wells in the Permian Basin to stem rising seismic activity and earthquakes could increase our operating costs and adversely impact our business, results of operations and financial condition.
Part of our strategy involves drilling in existing or emerging shale plays using the latest available horizontal drilling and completion techniques; therefore, the results of our planned exploratory drilling in these plays are subject to risks associated with drilling and completion techniques and drilling results may not meet our expectations for reserves or production.
The marketability of our production is dependent upon transportation and other facilities, certain of which we do not control. If these facilities are unavailable, our operations could be interrupted and our revenues reduced.
Our operations are subject to various governmental laws and regulations which require compliance that can be burdensome and expensive.
U.S. tax legislation may adversely affect our business, results of operations, financial condition and cash flow.
We operate in areas of high industry activity, which may affect our ability to hire, train or retain qualified personnel needed to manage and operate our assets.
Operating hazards and uninsured risks may result in substantial losses and could prevent us from realizing profits.
We may not be able to keep pace with technological developments in our industry.
Our operations depend heavily on electrical power, internet and telecommunication infrastructure and information and computer systems. If any of these systems are compromised or unavailable, our business could be adversely affected.
Legal proceedings brought against us could result in substantial liabilities and materially and adversely impact our financial condition.
Failure to comply with cybersecurity and data privacy laws and regulations could have a material adverse effect on our reputation, results of operations or financial condition.
Following the closing of the Endeavor Acquisition, the Endeavor equityholders have the ability to significantly influence our business, and their interest in our business may be different from that of other stockholders.
Our substantial indebtedness could adversely affect our results of operations, business flexibility and our ability to service our debt.
A downgrade in our debt ratings could restrict our access to, and negatively impact the terms of, current or future financings or trade credit.
The declaration of base and variable dividends and any repurchases of our common stock are each within the discretion of our board of directors based upon a review of relevant considerations, and there is no guarantee that we will pay any dividends on or repurchase shares of our common stock in the future or at levels anticipated by our stockholders.
A change of control could limit our use of net operating losses and certain other tax attributes.
We may issue preferred stock whose terms could adversely affect the voting power or value of our common stock.
Provisions in our certificate of incorporation and bylaws and Delaware law make it more difficult to effect a change in control of our company, which could adversely affect the price of our common stock.
The provision of our certificate of incorporation and bylaws requiring exclusive venue in the Court of Chancery in the State of Delaware for certain types of lawsuits may have the effect of discouraging lawsuits against us and our directors, officers and employees.
Legal proceedings
Diamondback has elected to use a $1 million threshold for disclosing certain environmental proceedings to which a federal, state or local governmental authority is a party.
We are a party to various routine legal proceedings, disputes and claims arising in the ordinary course of our business, including those that arise from interpretation of federal and state laws and regulations affecting the natural gas and crude oil industry, personal injury claims, title disputes, royalty disputes, contract claims, employment claims, claims alleging violations of antitrust laws, contamination claims relating to oil and natural gas exploration and development and environmental claims, including claims involving assets previously sold to third parties and no longer part of our current operations. While the ultimate outcome of the pending proceedings, disputes or claims, and any resulting impact on us, cannot be predicted with certainty, we believe that none of these matters, if ultimately decided adversely, will have a material adverse effect on our financial condition, results of operations or cash flows. For additional information regarding environmental matters, see Note 15—Commitments and Contingencies in Item 8. Financial Statements and Supplementary Data of this report.
