Diamondback Energy

The company started in December 2007 and was controlled by Wexford Capital LP before its listing. The holding company Diamondback Energy, Inc. was incorporated in Delaware on December 30, 2011.⁠[1]

Travis Stice served as chief executive officer from January 2012.⁠[2]

The company sold 12,500,000 shares in its initial public offering at $17.50 per share; trading began on the Nasdaq Global Select Market under the symbol FANG on October 12, 2012, and the offering closed on October 17. Net proceeds of about $204.6 million repaid in full subordinated debt owed to an affiliate of Wexford Capital LP.⁠[3]

On October 11, 2012, Gulfport exchanged all of its Permian Basin oil and gas interests for company stock and a promissory note, owning about 22.5% of the common stock after the offering.⁠[1]

Subsidiary Viper Energy Partners LP priced its IPO of 5,000,000 common units at $26.00 per unit on June 17, 2014, for trading on Nasdaq under the symbol VNOM. Afterward Diamondback owned about 93% of its limited partner interest and served as general partner.⁠[4]

The company signed a merger agreement with Energen Corporation dated August 14, 2018, and completed the merger on November 29, 2018: each Energen share was converted into the right to receive 0.6442 of a company share, and Energen became a wholly owned subsidiary.⁠[5]

On October 31, 2018, the company acquired certain leasehold interests and related assets of Ajax Resources, LLC for $900.0 million in cash, subject to adjustments, plus about 2.6 million shares. At December 31, 2018, it held about 461,218 net acres in the Permian Basin and 992,001 MBOE of estimated proved reserves, and owned about 59% of Viper’s limited partner interest.⁠[6]

S&P Dow Jones IndicesS&P Dow Jones IndicesS&P Dow Jones Indices (S&P DJI) is a global index provider that compiles and licenses benchmark indices including the S&P 500 and the Dow Jones Industrial Average. It was formed in 2012 by combining McGraw-Hill’s S&P index business with the Dow Jones Indexes business held by a joint venture of CME Group and Dow Jones, and it is now the index business division of S&P Global, which holds about 73% of the interest.Open the full entry announced on November 26, 2018, that Diamondback Energy would replace Stericycle in the S&P 500S&P 500The S&P 500 is a U.S. large-cap equity index compiled by S&P Dow Jones Indices. It includes 500 leading companies, covers about 80% of available market capitalization and is described by S&P DJI as “widely regarded as the best single gauge of large-cap U.S. equities.”Open the full entry prior to the open of trading on December 3, with Stericycle moving to the S&P MidCap 400 to replace Energen.⁠[7]

On March 17, 2021, the company announced that it had completed its all-stock acquisition of QEP Resources, with QEP stockholders receiving 0.05 of a company share for each QEP share and QEP stock ceasing to be listed on the NYSE. Stice said the deal “positions us to allocate a majority of our capital to the high-returning Midland Basin.”⁠[8]

On August 24, 2022, the company completed its merger with its publicly traded subsidiary Rattler Midstream LP for about 4.35 million shares, and Rattler’s units were delisted from Nasdaq. On November 30, 2022, and January 31, 2023, it acquired all leasehold interests and related assets of FireBird Energy LLC (5.92 million shares and $787 million cash) and Lario Permian, LLC (4.33 million shares and $814 million cash).⁠[9]

On February 12, 2024, the company announced a merger with Endeavor Energy Resources, L.P. for approximately 117.3 million shares and $8 billion in cash, with Endeavor’s equity holders expected to own about 39.5% of the combined company, which would have about 838,000 net acres and 816 MBOE/d of net production.⁠[10]

On April 29, 2024, the company and Endeavor each received a “Second Request” for additional information from the U.S. Federal Trade Commission, extending the HSR Act waiting period until 30 days after both substantially complied. The company still expected the deal to close in the fourth quarter of 2024.⁠[11]

It was the fifth oil and gas deal since December to receive a second request, after Exxon MobilExxonMobilExxonMobil is a U.S. integrated energy and petrochemical company whose business covers oil and gas exploration and production, fuels and chemicals manufacturing, and lower-emission technologies such as carbon capture. The group was formed by the 1999 merger of Exxon and Mobil, and after a 2026 reorganization its listed parent company is ExxonMobil Holdings Corporation.Open the full entry–Pioneer, ChevronChevronChevron is an integrated energy company headquartered in Houston, Texas, United States, whose shares trade on the New York Stock Exchange (ticker CVX). Its history dates back to Pacific Coast Oil Co., founded in 1879, and it adopted the name Chevron Corporation after acquiring Gulf Oil in 1984.Open the full entry–Hess and Occidental–CrownRock among others. The combined company would be the third-largest oil and gas producer in the Permian Basin, behind Exxon Mobil and Chevron.⁠[12]

In July 2024, the FTC was examining whether executives at companies including Diamondback had “improperly communicated with OPEC officials,” with its interest in Diamondback executives’ messages tied to the deals the company was pursuing. Diamondback declined to comment.⁠[13]

On September 10, 2024, the company announced that it had closed its merger with Endeavor. Chairman and CEO Stice said the merger created a “must own” North American independent oil company, adding: “Today, Diamondback is not only bigger, but better.”⁠[14]

On February 20, 2025, the company announced that Stice would step down as CEO at the 2025 Annual Meeting of Stockholders and become executive chairman, with President Kaes Van’t Hof succeeding him; Jere Thompson III became executive vice president and chief financial officer that day.⁠[15]

Stice was to remain executive chairman through the company’s 2026 annual meeting of stockholders.⁠[2]

A May 5, 2025 letter to stockholders stated that management would be led by Van’t Hof as CEO from the 2025 Annual Meeting.⁠[16]

The November 3, 2025 letter to stockholders was signed by Van’t Hof as chief executive officer and director.⁠[17]

On April 1, 2025, the company completed the Double Eagle acquisition for $3.1 billion in cash and about 6.84 million shares, adding about 40,000 net acres, mainly in the Midland Basin. On May 1, it divested the Endeavor subsidiaries to Viper for $873 million in cash plus 69.63 million Viper LLC units.⁠[18]

On August 19, 2025, Viper Energy, Inc., a Diamondback subsidiary, completed its acquisition of Sitio Royalties Corp. in an all-equity transaction.⁠[19]

For fiscal 2025, total revenues were $15,026 million (2024: $11,066 million) and net income attributable to Diamondback was $1,664 million (2024: $3,338 million), after a fourth-quarter impairment of oil and natural gas properties of $3,652 million.⁠[20]