Description
Diamondback Energy is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Midland, Texas.
As of December 31, 2019, the company had 1,127 million barrels of oil equivalent (6.89×109 GJ) of estimated proved reserves, of which 63% was petroleum, 17% was natural gas, and 20% was natural gas liquids. The company's reserves are all in the Permian Basin.
History
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.
In March 2017, the company acquired assets from Brigham Resources Operating, LLC and Brigham Resources Midstream, LLC for $2.55 billion.
In October 2018, the company acquired the assets of Ajax Resources.
In November 2018, the company acquired Energen.
