Last $82.23 USD
Change Today -2.52 / -2.97%
Volume 1.6M
FANG On Other Exchanges
As of 8:10 PM 07/31/14 All times are local (Market data is delayed by at least 15 minutes).

diamondback energy inc (FANG) Snapshot

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06/18/14 - $93.33
52 Week Low
08/21/13 - $38.10
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diamondback energy inc (FANG) Details

Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. The company’s activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn, and Atoka formations. As of December 31, 2013, its net leasehold acreage in the Permian Basin was approximately 65,938 net acres; and estimated proved oil and natural gas reserves were 63,586 thousand barrels of crude oil equivalent. The company also held interests in 306 net producing wells in the Permian Basin. Diamondback Energy, Inc. was founded in 2007 and is headquartered in Midland, Texas.

68 Employees
Last Reported Date: 02/19/14
Founded in 2007

diamondback energy inc (FANG) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $2.1M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $560.0K
Vice President of Operations
Total Annual Compensation: $700.5K
Vice President of Drilling
Total Annual Compensation: $796.0K
Vice President of Reservoir Engineering
Total Annual Compensation: $758.7K
Compensation as of Fiscal Year 2013.

diamondback energy inc (FANG) Key Developments

Diamondback Energy, Inc. Reports Unaudited Production Results for the Second Quarter Ended June 30, 2014

Diamondback Energy, Inc. reported unaudited production results for the second quarter ended June 30, 2014. For the quarter, the company reported oil production of 1,211,000 MBbl against 447,000 MBbl a year ago. Natural gas production was 990,000 MMcf against 409,000 MMcf a year ago. Natural gas liquids production was 247,000 MBbls against 84,000 MBbls a year ago. Oil equivalents production was 1,623,000 MBOE against 600,000 MBOE a year ago.

Diamondback Energy Mulls Acquisitions

Diamondback Energy, Inc. (NasdaqGS:FANG), which has launch of an underwritten public offering of 5 million shares of its common stock, is looking for acquisitions. The company stated that it intends to use the net proceeds from this offering and borrowings under its revolving credit facility to fund its previously announced pending acquisition of certain leasehold interests in the Permian Basin. To the extent the Pending Acquisition is not consummated, or the actual purchase price is less than the net proceeds from this offering, Diamondback intends to use any remaining net proceeds to fund a portion of its exploration and development activities and for general corporate purposes, which may include leasehold interest and property acquisitions and working capital.

Repsol Reportedly Eyeing Diamondback

Repsol, S.A. (CATS:REP) may acquire Diamondback Energy, Inc. (NasdaqGS:FANG). Share price of Diamondback gained 4% after a report of possible acquisition by Repsol. The report stated that Repsol would use cash from its $5 billion settlement with Argentina concerning the government's expropriation of Repsol's YPF unit. Repsol was in talks that might lead to its acquisition of Athabasca Oil Corporation (TSX:ATH).


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