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F r o m W i k i p e d i a , t h e f r e e e n c y c l o p e d i a
Diamondback Energy, Inc. is a company engaged in hydrocarbon exploration headquartered in Midland, Texas .
As of December 31, 2020, the company had 1,788 million barrels of oil equivalent (1.094× 10 10 GJ ) of estimated proved reserves, of which 52% was petroleum , 24% was natural gas , and 24% was natural gas liquids . The company's reserves are all in the Permian Basin .[1]
As of February 2024, it is ranked 400th on the Fortune 500 .[2] [3]
History [ edit ]
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.[4] [5]
In March 2017, the company acquired assets from Brigham Resources for $2.55 billion.[6] [7]
In October 2018, the company acquired the assets of Ajax Resources for $1.25 billion.[8] [9]
In November 2018, the company acquired Energen .[10]
In February 2021, the company acquired leasehold interests and assets from Guidon Resources for $375 million in cash and 10.68 million shares.[11] [12]
In March 2021, the company acquired QEP Resources.[12] [13]
A 2023 Bloomberg news story identified the company, as well as Permian Resources, as major contributors to the increase of flaring gas in the Permian oil field.[14]
In February 2024, it was reported Diamondback Energy and Endeavor Energy Resources were in final discussions toward a merger that would create an oil-and-gas giant worth more than $50 billion.[15]
Antitrust lawsuit [ edit ]
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 leading to drivers in the US paying more for gasoline than they would have in a competitive market.[16]
References [ edit ]
^ "Fortune 500 Full List (2024)" . www.50pros.com . 2024-02-01. Archived from the original on 2024-04-04. Retrieved 2024-04-28 .
^ "Diamondback Energy, Inc. Completes Initial Public Offering of Common Stock" (Press release). Globe Newswire . October 17, 2012.
^ "Diamondback Energy IPO Is Complete" . The Motley Fool . Associated Press . October 17, 2012.
^ "Diamondback Energy, Inc. Announces Closing of Acquisition from Brigham Resources" (Press release). Globe Newswire . March 1, 2017.
^ Garcia, Luis (March 2, 2017). "Brigham Resources Closes $2.55 Billion Permian Asset Sale to Diamondback" . The Wall Street Journal
^ "Diamondback Energy, Inc. Announces Third Quarter 2018 Financial and Operating Results" (Press release). Globe Newswire . November 6, 2018.
^ "Diamondback to acquire Ajax Resources in $1.25-billion deal" . Oil & Gas Journal
^ "Diamondback Energy, Inc. Completes Acquisition of Energen Corporation" (Press release). Globe Newswire . November 29, 2018.
^ "Diamondback Energy, Inc. Announces Closing of Acquisition from Guidon Operating LLC" (Press release). GlobeNewswire . February 26, 2021.
^ a b Takahashi, Paul (March 17, 2021). "Midland oil and gas producer Diamondback Energy acquires rival QEP Resources" . Houston Chronicle
^ "Diamondback Energy, Inc. Completes Acquisition of QEP Resources, Inc" (Press release). GlobeNewswire . March 17, 2021.
^ Zachary Mider and Mitchell Ferman. Bloomberg reporters. (4 October 2023). "Flaring Ticks Up in Texas Oil Patch, Showing Limits of ESG Pressure". Yahoo Finance website Retrieved 4 Oct 2023.
^ "Diamondback, Endeavor in Talks to Form $50 Billion Energy Giant" . Bloomberg.com . 2024-02-11. Retrieved 2024-02-11 .
^ Scarcella, Mike (2024-01-16). "Drivers sue US shale oil producers over alleged price-fixing scheme" . Reuters Archived from the original on 2024-01-21. Retrieved 2024-04-28 .
External links [ edit ]
R e t r i e v e d f r o m " https://en.wikipedia.org/w/index.php?title=Diamondback_Energy&oldid=1227149178 " C a t e g o r i e s : ● C o m p a n i e s i n t h e N a s d a q - 1 0 0 ● C o m p a n i e s l i s t e d o n t h e N a s d a q ● 2 0 0 7 e s t a b l i s h m e n t s i n T e x a s ● 2 0 1 2 i n i t i a l p u b l i c o f f e r i n g s ● A m e r i c a n c o m p a n i e s e s t a b l i s h e d i n 2 0 0 7 ● C o m p a n i e s b a s e d i n T e x a s ● N a t u r a l g a s c o m p a n i e s o f t h e U n i t e d S t a t e s ● O i l c o m p a n i e s o f t h e U n i t e d S t a t e s H i d d e n c a t e g o r i e s : ● A r t i c l e s w i t h s h o r t d e s c r i p t i o n ● S h o r t d e s c r i p t i o n m a t c h e s W i k i d a t a
● T h i s p a g e w a s l a s t e d i t e d o n 4 J u n e 2 0 2 4 , a t 0 0 : 4 5 ( U T C ) . ● T e x t i s a v a i l a b l e u n d e r t h e C r e a t i v e C o m m o n s A t t r i b u t i o n - S h a r e A l i k e L i c e n s e 4 . 0 ;
a d d i t i o n a l t e r m s m a y a p p l y . B y u s i n g t h i s s i t e , y o u a g r e e t o t h e T e r m s o f U s e a n d P r i v a c y P o l i c y . W i k i p e d i a ® i s a r e g i s t e r e d t r a d e m a r k o f t h e W i k i m e d i a F o u n d a t i o n , I n c . , a n o n - p r o f i t o r g a n i z a t i o n . ● P r i v a c y p o l i c y ● A b o u t W i k i p e d i a ● D i s c l a i m e r s ● C o n t a c t W i k i p e d i a ● C o d e o f C o n d u c t ● D e v e l o p e r s ● S t a t i s t i c s ● C o o k i e s t a t e m e n t ● M o b i l e v i e w
US$6.797 billion (2021)
