Diamondback Energy Inc

ir.diamondbackenergy.com

Diamondback Energy (NASDAQ: FANG) is an independent oil and natural gas exploration and production company focused on the Permian Basin in West Texas. Revenue is generated by producing and selling crude oil, natural gas, and natural gas liquids at market prices, making the company's financial results directly tied to commodity price realizations and production volumes. As of December 31, 2025, Diamondback had identified 8,854 gross (6,541 net) economic potential horizontal drilling locations across its acreage at an assumed WTI price of approximately $50.00 per barrel. The majority of drilling inventory sits in the Midland Basin, with 7,910 gross locations across formations including the Lower Spraberry, Middle Spraberry, Wolfcamp A, Wolfcamp B, and Wolfcamp D. The remaining 944 gross locations are in the Delaware Basin, spanning the 2nd Bone Springs, 3rd Bone Springs, and Wolfcamp intervals. The company operates with a multi-year drilling inventory that is oil-weighted.