For Q1 FY2026 ended March 31, 2026, Diamondback Energy reported revenue of $4.24 billion, up 4.7% year-over-year. Net income fell sharply to $25 million, a 98.2% decline from the prior year, and diluted EPS dropped to $0.08. Operating income was $116 million, down 93.1% year-over-year. The company had $174 million in cash, $36.47 billion in equity, and $13.15 billion in long-term debt.
•Revenue increased 4.7% YoY to $4.24 billion.
•Net income plunged 98.2% to $25 million; diluted EPS fell 98.3% to $0.08.
•Operating income decreased 93.1% to $116 million.
•Long-term debt stood at $13.15 billion against equity of $36.47 billion.
Informational summary based on SEC XBRL figures · generated by deepseek-v4-flash. Not investment advice.
Diamondback Energy, Inc., an independent oil and natural gas company acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas, the United States.
The company primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland Basin the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are part of the Permian Basin in West Texas and New Mexico. Founded in 2007, Diamondback Energy is headquartered in Midland, Texas.
Diamondback Energy, Inc. is an independent oil and natural gas company that focuses on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves. Its operations are concentrated in the Permian Basin, specifically in West Texas and New Mexico. The company primarily targets the Spraberry and Wolfcamp formations of the Midland Basin, as well as the Wolfcamp and Bone Spring formations of the Delaware Basin. By leveraging advanced drilling and completion techniques, Diamondback Energy aims to efficiently extract hydrocarbons from these prolific shale plays. The company's activities are entirely within the United States, and it does not have international operations.
Where is Diamondback Energy (FANG) listed and what currency does it trade in?
Diamondback Energy is listed on the Nasdaq Global Select Market (NasdaqGS) under the ticker symbol FANG. Its shares are traded in US Dollars (USD), reflecting its primary operations and headquarters in the United States. As a US-based company listed on a major American exchange, its financial reporting and dividends are also denominated in USD. Investors looking to trade FANG can do so during regular Nasdaq trading hours, and the stock is accessible through most brokerage platforms that offer US equities.
What sector and industry does Diamondback Energy (FANG) belong to?
Diamondback Energy operates in the Energy sector, specifically within the Oil & Gas Exploration and Production (E&P) industry. This means the company is primarily engaged in finding, extracting, and producing crude oil and natural gas from underground reservoirs. As an E&P company, Diamondback Energy does not own refineries or retail gas stations; instead, it sells its produced oil and gas to midstream companies, refiners, or traders. The company's focus on unconventional resources in the Permian Basin places it among the leading independent operators in one of the most prolific oil-producing regions in the United States.
Where is Diamondback Energy (FANG) headquartered and what is its history?
Diamondback Energy is headquartered in Midland, Texas, which is located in the heart of the Permian Basin. The company was founded in 2007, making it a relatively young player in the oil and gas industry. Since its founding, Diamondback Energy has grown through a combination of organic drilling and strategic acquisitions, establishing itself as a major independent E&P company focused exclusively on the Permian Basin. Its headquarters in Midland places the company close to its core operating areas, allowing for efficient management of its drilling and production activities in West Texas and New Mexico.
What are the main assets and operational focus of Diamondback Energy (FANG)?
Diamondback Energy's primary assets are located in the Permian Basin, one of the most productive oil and gas regions in the United States. The company focuses on developing the Spraberry and Wolfcamp formations in the Midland Basin, as well as the Wolfcamp and Bone Spring formations in the Delaware Basin. These formations are known for their rich hydrocarbon content and are accessed through horizontal drilling and hydraulic fracturing. Diamondback Energy's business model revolves around efficiently acquiring and developing these unconventional reserves, generating revenue by selling crude oil, natural gas, and natural gas liquids. The company does not operate midstream or downstream assets, instead relying on third-party infrastructure for transportation and processing.