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Company Overview
About Diamondback Energy
Diamondback Energy is one of the largest and lowest-cost oil producers in the Permian Basin, founded in 2007 and headquartered in Midland, Texas, trading on Nasdaq (FANG). The company completed the landmark acquisition of Endeavor Energy Resources in September 2024 for approximately $26 billion—the largest private company acquisition in Permian Basin history—transforming Diamondback into the third-largest Permian producer behind ExxonMobil-Pioneer and Occidental Petroleum. Pro forma for Endeavor, Diamondback produces approximately 880,000 barrels of oil equivalent per day from its combined Midland and Delaware Basin acreage. CEO Travis Stice, a founding team member, has built Diamondback through disciplined bolt-on acquisitions and operational efficiency from a small Permian pure-play into a basin titan.
Business Model & Competitive Advantage
Diamondback's competitive positioning rests on its low breakeven cost structure—averaging below $38 per barrel oil in the Permian—enabled by concentrated Midland Basin acreage with multiple stacked pay zones, optimized completions using high-intensity frac designs, and water infrastructure that reduces per-unit operating costs. The Endeavor acquisition added approximately 350,000 net Permian acres and 50,000 BOE/day of production, along with midstream infrastructure and produced water recycling systems that improve both environmental performance and economics. Diamondback's scale now enables dedicated frac crews, centralized water management, and long-term service contracts that reduce well cost variance.
Competitive Landscape 2025–2026
In 2025-2026, Diamondback competes primarily with ExxonMobil's Permian operations (post-Pioneer), Chevron's Delaware Basin position, ConocoPhillips' post-Marathon Permian acreage, and Coterra Energy (CTRA) in the Delaware Basin. The Permian Basin consolidation wave of 2023-2024 has established a new competitive order dominated by large-cap players with scale advantages in water, midstream, and service procurement. Diamondback's capital return program—targeting over 50% of free cash flow returned to shareholders through dividends and buybacks—reflects management's conviction in the longevity and economics of its tier-1 Permian inventory, estimated at over 6,000 remaining premium locations.
The Diamondback Energy Story
Founders
Recent Activity
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Major milestones in Diamondback Energy's journey
Leadership Team
Meet the leaders behind Diamondback Energy
Travis D. Stice
Travis D. Stice is the founder and CEO of Diamondback Energy, leading the company since its inception in 2007. He plans to step down as CEO at the 2025 Annual Meeting of Stockholders, transitioning the company to new leadership while continuing to serve as Chairman.
Matthew Kaes Van't Hof
Matthew Kaes Van't Hof will become CEO and Director of Diamondback Energy effective May 21, 2025, succeeding Travis D. Stice. He brings extensive experience in energy finance and operations to lead the company's next chapter.
Michael L. Hollis
Michael L. Hollis serves as President and Chief Operating Officer, overseeing Diamondback's operational strategy and execution across its Permian Basin assets, ensuring industry-leading production efficiency.
Jere W. Thompson III
Jere W. Thompson III was promoted to Executive Vice President and CFO in February 2025, previously serving as Executive Vice President of Strategy and Corporate Development. He leads the company's financial planning, capital markets, and investor relations.
Al Barkmann
Al Barkmann has served as Executive Vice President and Chief Engineer since February 2024, responsible for technical excellence and engineering innovation across Diamondback's drilling and completion operations.
Teresa L. Dick
Teresa L. Dick served as Executive Vice President and Chief Financial Officer prior to the February 2025 leadership transition, playing a key role in Diamondback's financial strategy and growth.
Mr. McAllaster
Appointed in September 2024, McAllaster oversees field operations and production activities, ensuring operational excellence and safety across all Diamondback assets.
Ms. Blubaugh-Few
Serving since February 2019, Blubaugh-Few manages accounting functions, financial reporting, and corporate controls, ensuring compliance and transparency in financial operations.
Mr. Dolezal
Appointed in February 2025, Dolezal leads Diamondback's technology strategy and digital transformation initiatives, modernizing operations through innovative technology solutions.
Key Differentiators
Market Leader
Diamondback Energy is recognized as a market leader in the Energy & Utilities sector, demonstrating strong industry presence and customer trust.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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