Diamondback Energy, Inc. (FANG): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la exploración energética, Diamondback Energy, Inc. (Fang) surge como una potencia estratégica en la cuenca del Pérmico, revolucionando la producción de petróleo y gas a través de prácticas comerciales innovadoras. Al integrar magistralmente las capacidades tecnológicas de vanguardia, las asociaciones estratégicas y un modelo operativo centrado en el láser, esta compañía ha transformado el panorama tradicional de extracción de hidrocarburos. Su lienzo de modelo de negocio revela un enfoque sofisticado que equilibra la eficiencia operativa, la responsabilidad ambiental y el valor de los accionistas, posicionando a Fang como un jugador formidable en el mercado energético complejo y competitivo.

Diamondback Energy, Inc. (Fang) - Modelo de negocio: asociaciones clave

Principales proveedores de servicios de campo petrolero

Diamondback Energy mantiene asociaciones estratégicas con compañías líderes de servicios de campo petrolero:

Pareja	Servicios proporcionados	Valor del contrato (2023)
Halliburton	Fractura hidráulica	$ 387 millones
Schlumberger	Tecnología de perforación	$ 412 millones
Baker Hughes	Servicios de finalización de pozo	$ 265 millones

Socios de infraestructura midstream

Las asociaciones clave de infraestructura de Diamondback Midstream incluyen:

• Enterprise Products Partners LP
• Magellan Midstream Partners
• Plains All American Pipeline

Pareja	Capacidad de transporte	Volumen de transporte anual
Enterprise Products Partners LP	150,000 barriles/día	54.75 millones de barriles/año
Plains All American Pipeline	125,000 barriles/día	45.63 millones de barriles/año

Acuerdos de empresa conjunta

Diamondback Energy's Permian Basin Ventures:

• Endeaves a los recursos energéticos
• Rattler Midstream LP
• Energía de Cimarex

Instituciones financieras

Institución financiera	Línea de crédito	Monto del compromiso
JPMorgan Chase	Facilidad de crédito giratorio	$ 3.5 mil millones
Banco de América	Préstamo a plazo	$ 2.1 mil millones

Proveedores de tecnología

Asociaciones tecnológicas centradas en tecnologías de extracción avanzadas:

• Corporación de perforación de precisión
• Nabors Industries
• Nov Inc.

Proveedor de tecnología	Enfoque tecnológico	Inversión anual
Perforación de precisión	Tecnologías de plataforma inteligente	$ 67 millones
Nov Inc.	Sistemas de automatización	$ 54 millones

Diamondback Energy, Inc. (Fang) - Modelo de negocio: actividades clave

Exploración y producción de petróleo crudo y gas natural

A partir del cuarto trimestre de 2023, Diamondback Energy informó:

• Producción total de 359,193 barriles de aceite equivalente por día (Boe/D)
• Producción de petróleo crudo: 239,471 barriles por día
• Producción de gas natural: 715 millones de pies cúbicos por día

Métrica de producción	2023 cifras
Producción total	359,193 Boe/D
Producción de petróleo crudo	239,471 barriles/día
Producción de gas natural	715 millones de pies cúbicos/día

Técnicas avanzadas de fractura hidráulica y perforación horizontal

Métricas de rendimiento de perforación:

• Longitud lateral promedio: 10,500 pies
• Eficiencia de perforación: 2.5 días por pozo horizontal
• Etapas de fractura hidráulica por pozo: 30-35 etapas

Adquisición de activos y gestión de cartera estratégica

2023 Transacciones estratégicas:

Transacción	Valor	Detalles
Fusión con energía de esfuerzo	$ 8.0 mil millones	Transacción de todo el stock
Reservas totales probadas	1.100 millones de boe	Al 31 de diciembre de 2023

Iniciativas de cumplimiento ambiental y sostenibilidad

Métricas de desempeño ambiental:

• Intensidad de emisiones de metano: 0.05 toneladas métricas CO2E por boe
• Reducción de quiebra: 85% en comparación con la línea de base de 2019
• Tasa de reciclaje de agua: 70% del agua producida

Innovación tecnológica continua en métodos de extracción

Inversión tecnológica:

Área de innovación	2023 inversión
Tecnologías digitales de campo petrolero	$ 45 millones
Imágenes sísmicas avanzadas	$ 22 millones
Inteligencia artificial en la perforación	$ 18 millones

Diamondback Energy, Inc. (Fang) - Modelo de negocio: recursos clave

Extensas tierras de la cuenca del Pérmico y derechos minerales

A partir del cuarto trimestre de 2023, la energía Diamondback controlaba aproximadamente 491,000 acres netos en la cuenca del Pérmico, con una concentración significativa en las subcuencas de Delaware y Midland.

Ubicación	Acres netos	Reservas estimadas
Cuenca de Delaware	279,000	1.100 millones de boe
Cuenca de Midland	212,000	0.9 mil millones de boe

Equipo avanzado de perforación y extracción

Diamondback Energy mantiene una flota moderna de equipos de perforación y extracción con las siguientes especificaciones:

• 22 plataformas de perforación a partir de diciembre de 2023
• Equipo de fractura hidráulica predominantemente alta eficiencia 4
• Gasto total de capital para equipos en 2023: $ 2.3 mil millones

Fuerza laboral técnica e ingeniería calificada

Categoría de empleado	Número de empleados
Total de empleados	1,350
Profesionales de ingeniería	420
Especialistas geológicos	185

Capital financiero sólido y facilidades de crédito

Métricas financieras a partir del cuarto trimestre 2023:

• Efectivo total y equivalentes: $ 1.4 mil millones
• Línea de crédito giratorio: $ 3.0 mil millones
• Relación de deuda / capitalización: 32.5%
• Ingresos anuales: $ 6.8 mil millones

Capacidades de análisis de datos y modelado geológico robusto

Inversión en infraestructura tecnológica:

• Inversión tecnológica anual: $ 85 millones
• Sistemas avanzados de imágenes sísmicas: 7 plataformas patentadas
• Algoritmos de aprendizaje automático para la predicción de yacimientos

Diamondback Energy, Inc. (Fang) - Modelo de negocio: propuestas de valor

Producción de petróleo y gas de alta eficiencia

A partir del cuarto trimestre de 2023, Diamondback Energy informó la producción diaria de 487,000 barriles de aceite equivalente (BOE) por día. El desglose de producción incluye:

Tipo de producción	Volumen
Petróleo crudo	345,000 barriles por día
Gas natural	142,000 boe por día

Modelo operativo de bajo costo en la cuenca Pérmica

Métricas de costos operativos para 2023:

• Gastos operativos de arrendamiento: $ 4.87 por boe
• Costos de recopilación y transporte: $ 1.62 por boe
• Producción e impuestos ad valorem: $ 3.21 por boe

Compromiso con la sostenibilidad ambiental

Métricas de desempeño ambiental:

Métrico	2023 datos
Intensidad de emisiones de metano	0.07 toneladas métricas CO2E por boe
Objetivo de reducción de gases de efecto invernadero	30% para 2030

Retorno de inversión constante para los accionistas

Indicadores de desempeño financiero:

• Ingresos netos para 2023: $ 4.2 mil millones
• Flujo de efectivo libre: $ 3.8 mil millones
• Rendimiento de dividendos: 8.3%

Innovación tecnológica en extracción de hidrocarburos

Inversión tecnológica y rendimiento:

Área tecnológica	Inversión/rendimiento
Eficiencia de perforación horizontal	Promedio de 10,500 pies por pozo
Gastos de I + D	$ 127 millones en 2023
Imágenes sísmicas avanzadas	Mayor tasa de recuperación en un 15%

Diamondback Energy, Inc. (Fang) - Modelo de negocios: relaciones con los clientes

Contratos de suministro a largo plazo con compradores de energía

A partir del cuarto trimestre de 2023, Diamondback Energy ha establecido 87 contratos de suministro a largo plazo con compradores de energía clave en la cuenca del Pérmico.

Tipo de contrato	Número de contratos	Duración promedio
Suministro de petróleo crudo	62	5.7 años
Suministro de gas natural	25	4.3 años

Comunicación corporativa transparente

Diamondback Energy mantiene quarterly investor communication channels with detailed financial disclosures.

• 4 llamadas de conferencia de ganancias por año
• Informe de sostenibilidad anual integral
• Actualizaciones mensuales de rendimiento operativo

Plataformas digitales para relaciones con los inversores

Las plataformas de participación de los inversores digitales incluyen:

Plataforma	Usuarios activos (2023)	Frecuencia de interacción
Sitio web de inversores	12,543	Mensual
Aplicación móvil de inversionista	3,876	Trimestral

Servicio al cliente receptivo para inversores institucionales

Equipo dedicado de relaciones con inversores con Tasa de respuesta del 97,2% a consultas de inversores institucionales.

• Canales de comunicación digital 24/7
• Gerentes de cuentas dedicados para los 50 principales inversores institucionales
• Tiempo de respuesta promedio: 4.3 horas

Informes regulares de desempeño financiero y operativo

Frecuencia y cobertura de informes a partir de 2023:

Tipo de informe	Frecuencia	Canales de distribución
Informe de ganancias trimestrales	4 veces/año	Sitio web, presentaciones de la SEC, correo electrónico
Actualización de rendimiento operacional	Mensual	Boletín de inversores, sitio web

Diamondback Energy, Inc. (Fang) - Modelo de negocio: canales

Ventas directas a los mercados de energía

Diamondback Energy utiliza canales de ventas directos a través de:

• Equipo de ventas empresarial dirigida a las compañías de energía de la corriente intermedia y aguas abajo
• Contratos de venta directo de petróleo crudo y gas natural

Canal de ventas	2023 Contribución de ingresos
Ventas directas de Permian Basin Direct	$ 6.2 mil millones
Ventas de gas natural	$ 1.3 mil millones
Ventas de contrato de Midstream	$ 742 millones

Plataformas de relaciones con inversores digitales

Los canales de comunicación de los inversores incluyen:

• Sec Edgar Plataforma de archivo electrónica
• Plataformas de transmisión web de ganancias trimestrales
• Sitio web de relaciones con los inversores con información sobre acciones en tiempo real

Conferencias financieras y presentaciones de inversores

Tipo de conferencia	Participación anual
Conferencias de inversión energética	7-9 conferencias por año
Reuniones de inversores institucionales	42-55 reuniones anualmente

Sitio web corporativo e informes anuales

Los canales digitales corporativos incluyen:

• Sitio web integral de relaciones con los inversores
• Descargas de informes anuales
• Archivos de presentación financiera trimestral

Publicaciones comerciales de la industria energética

Canales de marketing y comunicación:

• Comunicados de prensa publicados en revistas de la industria
• Publicaciones técnicas con actualizaciones operativas
• Publicidad en revistas del sector energético

Tipo de publicación	Exposición anual
Revistas comerciales de la industria	24-36 Artículos de características
Distribuciones de comunicados de prensa	48-52 Lanzamientos anuales

Diamondback Energy, Inc. (Fang) - Modelo de negocio: segmentos de clientes

Corporaciones de energía a gran escala

Diamondback Energy sirve a las principales corporaciones de energía con importantes necesidades de producción de petróleo y gas.

Tipo de cliente	Demanda anual de petróleo	Volumen de contrato
Exxonmobil	500,000 barriles/día	$ 425 millones
Cheurón	375,000 barriles/día	$ 312 millones

Inversores y accionistas institucionales

Métricas financieras clave para el segmento de inversores institucionales:

• Propiedad institucional total: 89.4%
• Valor de inversión institucional: $ 18.3 mil millones
• Los principales inversores institucionales:
  • Vanguard Group: 12.5%
  • BlackRock: 10.2%
  • State Street Corporation: 7.8%

Refinerías de petróleo

Refinería	Adquisición anual de petróleo	Valor de contrato
Phillips 66	250,000 barriles/día	$ 215 millones
Energía de Valero	200,000 barriles/día	$ 180 millones

Empresas de distribución de gas natural

Métricas de rendimiento del segmento de distribución:

• Ventas totales de gas natural: 1.200 millones de pies cúbicos/día
• Duración promedio del contrato: 5-7 años
• Socios de distribución clave:
  • Kinder Morgan
  • Socios de productos empresariales
  • Transferencia de energía

Mercados mundiales de comercio de energía

Mercado	Volumen comercial	Ingresos anuales
Intercambio mercantil de Nueva York	500,000 contratos/mes	$ 675 millones
Intercambio intercontinental	375,000 contratos/mes	$ 512 millones

Diamondback Energy, Inc. (Fang) - Modelo de negocio: Estructura de costos

Gastos de capital para perforación y exploración

En 2023, Diamondback Energy reportó gastos de capital totales de $ 2.4 mil millones. Los costos específicos de perforación y exploración se asignaron de la siguiente manera:

Categoría	Cantidad ($ millones)
Perforación de la cuenca del permio	1,850
Costos de exploración	350
Desarrollo de la cuenca de Midland	200

Mantenimiento y reemplazo del equipo

Costos anuales de mantenimiento y reemplazo de equipos:

• Mantenimiento de la plataforma: $ 85 millones
• Reemplazo del equipo de perforación: $ 120 millones
• Mantenimiento de la infraestructura de tuberías: $ 45 millones

Compensación y capacitación de la fuerza laboral

Gastos relacionados con la fuerza laboral para 2023:

Categoría de gastos	Cantidad ($ millones)
Compensación total de empleados	275
Capacitación y desarrollo	12
Beneficios para empleados	65

Cumplimiento ambiental y costos regulatorios

Gastos de cumplimiento regulatorio y ambiental:

• Monitoreo ambiental: $ 22 millones
• Cumplimiento regulatorio: $ 18 millones
• Programa de reducción de emisiones de carbono: $ 15 millones

Inversiones de tecnología e innovación

Desglose de inversión tecnológica:

Área tecnológica	Inversión ($ millones)
Tecnologías digitales de campo petrolero	35
Inteligencia artificial y aprendizaje automático	25
Sistemas de automatización	20

Estructura de costos totales: aproximadamente $ 3.1 mil millones en 2023

Diamondback Energy, Inc. (Fang) - Modelo de negocio: flujos de ingresos

Ventas de petróleo crudo

En el tercer trimestre de 2023, Diamondback Energy informó una producción de petróleo crudo de 234,700 barriles por día. Los ingresos totales de petróleo crudo para 2022 fueron de $ 6.3 mil millones. El precio promedio de petróleo crudo realizado fue de $ 88.47 por barril en 2022.

Año	Producción de petróleo crudo (barriles/día)	Ingresos totales ($)
2022	234,700	6,300,000,000

Ingresos de producción de gas natural

La producción de gas natural para el tercer trimestre de 2023 fue de 753 millones de pies cúbicos por día. Los ingresos totales de gas natural en 2022 alcanzaron los $ 1.2 mil millones. El precio promedio de gas natural realizado fue de $ 6.85 por MMBTU.

Año	Producción de gas natural (MCF/día)	Ingresos totales ($)
2022	753,000,000	1,200,000,000

Tarifas de infraestructura de Midstream

Las tarifas de infraestructura Midstream generaron $ 287 millones en ingresos para 2022. Estas tarifas incluyen servicios de recopilación, procesamiento y transporte.

Arrendamiento de derechos minerales

Los ingresos por arrendamiento de derechos minerales para 2022 fueron de $ 412 millones. Diamondback posee aproximadamente 458,000 acres minerales netos en la cuenca del Pérmico.

Comercio de derivados de energía

Los ingresos por negociación de derivados de energía para 2022 fueron de $ 156 millones. Los contratos de cobertura cubrieron aproximadamente el 65% de la producción total.

Flujo de ingresos	2022 Ingresos ($)	Porcentaje de ingresos totales
Ventas de petróleo crudo	6,300,000,000	78%
Producción de gas natural	1,200,000,000	15%
Tarifas de infraestructura de Midstream	287,000,000	3.5%
Arrendamiento de derechos minerales	412,000,000	5%
Comercio de derivados de energía	156,000,000	2%

• Ingresos totales para 2022: $ 8.155 mil millones
• Región de operación primaria: cuenca de Pérmico
• Operado públicamente en NASDAQ bajo Ticker Fang

Diamondback Energy, Inc. (FANG) - Canvas Business Model: Value Propositions

You're looking at what makes Diamondback Energy, Inc. stand out in the Permian Basin right now. Their value proposition isn't about being the biggest; it's about being the most efficient and disciplined in delivering returns to you, the shareholder. This focus translates directly into the financial performance you see in their latest reports.

Industry-leading capital efficiency in the Permian is a core pillar. They consistently generate more production for every dollar spent on capital expenditures compared to their peers. For instance, based on updated 2025 guidance as of October 31, 2025, Diamondback Energy is projecting an efficiency of 50.9 Mbo / $MM of CAPEX, which stacks up favorably against the peer group you see in the market analysis. This efficiency is driven by operational excellence, like continuous pumping delivering over 1 mile of lateral per day and record spud-to-TD cycle times where 11% of wells finished in under 5 days in Q3 2025.

The result of this efficiency is substantial free cash flow generation. For the third quarter of 2025, Diamondback Energy reported Adjusted Free Cash Flow of $1.8 billion. That's real cash coming out of the ground after paying for the wells they drilled and completed. Even with WTI oil prices averaging about 14% lower in the first nine months of 2025 compared to the same period in 2024, they are on track to generate roughly 7% more Adjusted Free Cash Flow per share in 2025 than they did in 2024.

This strong cash generation underpins their commitment to consistent, high return of capital to shareholders. Diamondback Energy has a stated framework to return at least 50% of quarterly free cash flow. In Q3 2025, they returned $892 million to stockholders, which was exactly 50% of their Adjusted Free Cash Flow. This return was split between a declared base cash dividend of $1.00 per share for Q3 2025 and aggressive share repurchases. They bought back 4,286,080 shares in that quarter for approximately $603 million.

You can see the hard numbers that back up their cost discipline in the table below, showing the low-cost structure. The figure you asked about, total cash operating costs, was reported at $10.10 per BOE in Q2 2025, reflecting management's cost discipline. This is a key differentiator in a volatile commodity environment. Honestly, keeping costs this tight is how they maintain resilience.

Here's a quick look at the key financial and operational metrics supporting these value propositions:

Metric	Value	Period/Context
Adjusted Free Cash Flow	$1.8 billion	Q3 2025
Total Return of Capital	$892 million	Q3 2025
Percentage of Adj. FCF Returned	50%	Q3 2025
Q3 2025 Base Cash Dividend	$1.00 per share	Declared
Shares Repurchased	4,286,080 shares	Q3 2025
Cash Capital Expenditures	$774 million	Q3 2025
Total Cash Operating Costs	$10.10 per BOE	Q2 2025
Average Oil Production	503.8 MBO/d	Q3 2025
Total Net Acres	860,719	As of early 2025

Finally, the foundation of this value is the long-duration, high-quality drilling inventory. Diamondback Energy, Inc. is focused on the Permian Basin, holding approximately 860,719 net acres as of early 2025, with the majority, 737,181 net acres, situated in the Midland Basin. For the full year 2025, they are planning to drill between 445 - 465 gross wells and complete between 510 - 520 gross wells, with an average lateral length expected to be approximately 11,500 feet. This inventory depth allows them to maintain production and capital efficiency for years, even while operating under a 'yellow light' capital allocation strategy.

Finance: draft 13-week cash view by Friday.

Diamondback Energy, Inc. (FANG) - Canvas Business Model: Customer Relationships

Transactional sales based on commodity spot and futures prices define the core revenue driver for Diamondback Energy, Inc. For the third quarter of 2025, average oil production reached 503.8 MBO/d (942.9 MBOE/d). The company has a stated internal metric where its base dividend is protected at an approximate WTI oil price of $37/Bbl. In the first quarter of 2025, the average unhedged realized price for oil was $70.95 per barrel. The impact of commodity price management via derivatives was evident in Q1 2025, which saw a realized hedge gain of $85 million on cash settlements for matured commodity derivatives.

Diamondback Energy, Inc. maintains a dedicated Investor Relations function focused on transparency regarding capital allocation, which is a key relationship point with its shareholder customer segment. The framework commits to returning at least 50% of quarterly free cash flow to stockholders. The Q3 2025 base cash dividend declared was $1.00 per common share. For the first half of 2025, the company generated $2.9 billion of Adjusted Free Cash Flow.

Capital Allocation Metric	Amount/Value	Period/Date
Expected 2025 Adjusted Free Cash Flow	At least $5.8 billion	Full Year 2025 Guidance
Q3 2025 Base Dividend Per Share	$1.00	Q3 2025
Total Return of Capital to Shareholders	$892 million	Q3 2025
Share Repurchase Authorization Capacity Remaining	$3.0 billion	As of October 31, 2025
Expected Cash Tax Rate	18% to 20% of pretax income	2026 Projection

Long-term, fixed-fee contracts with midstream customers secure necessary takeaway capacity, which is critical for Diamondback Energy, Inc.'s operations in the Permian Basin. A significant relationship is with EPIC Crude, where Diamondback previously held a 27.5% equity interest. This relationship involves substantial volume commitments; Diamondback is converting its existing commitment on EPIC Crude into a larger volume commitment of 200 MBpd. EPIC Crude itself had secured Minimum Volume Commitments (MVCs) or contracts for approximately 90% of its 2025 total volumes. Diamondback Energy, Inc. is now transitioning this relationship following the sale of its stake.

• Sale of 27.5% equity interest in EPIC Crude Holdings, LP for approximately $500 million net upfront cash.
• Additional contingent cash payment of $96 million possible upon capacity expansion sanction before year-end 2027.
• The transaction implies an upfront valuation for 100% of EPIC Crude at $2.85 billion.
• Diamondback Energy, Inc. expects to maintain its strong commercial relationship as an anchor shipper on the pipeline.

Strategic, definitely high-touch relationships with major purchasers are primarily managed through its midstream partnerships and its position as a major producer. Following the Endeavor Energy Resources merger, Diamondback Energy, Inc. became the third largest crude producer in the Permian Basin. The company also completed the acquisition of Double Eagle IV for approximately $4.08 billion in cash and stock, further solidifying its scale. Diamondback Energy, Inc. is focused on operational efficiency, citing total operating cash expenses of $10.10 per Boe for Q2 2025.

Diamondback Energy, Inc. (FANG) - Canvas Business Model: Channels

You're looking at how Diamondback Energy, Inc. moves its product-crude oil, natural gas, and NGLs-from the wellhead to the buyer. This is all about getting molecules to market efficiently, which is key in the Permian Basin.

Direct sales contracts to refiners and crude oil marketers

Diamondback Energy, Inc. relies on direct sales, which means they are negotiating the price and delivery terms for their produced commodities. This channel is supported by their significant production base in the Permian Basin.

For the third quarter of 2025, the company reported an average oil production of 503.8 MBO/d (thousand barrels of oil per day). The full-year 2025 oil production guidance was raised to a range of 495-498 thousand barrels per day. The company also completed major asset sales in October 2025, divesting its 27.5% equity interest in EPIC Crude Holdings for $504 million. This suggests a strategic shift, potentially streamlining the marketing of crude oil volumes by reducing exposure to certain midstream entities while focusing on core production.

Here's a look at the scale of their Q3 2025 financial activity related to capital allocation, which underpins the volume that needs to be sold:

Metric	Amount (Q3 2025)
Net cash provided by operating activities	$2.4 billion
Free Cash Flow	$1.8 billion
Total return of capital to stockholders	$892 million
Shares repurchased	4,286,080 shares

Natural gas pipelines and gathering systems

Getting natural gas to market involves using a network of gathering systems and long-haul pipelines. Diamondback Energy, Inc. is actively managing its exposure to different market hubs through these transportation channels.

The company is consciously moving away from reliance on the Waha (WA) hub for its gas sales. As of the third quarter of 2025, their exposure to Waha was a little over 70% of gas sales. Management projects this exposure will be down to just over 40% of gas sales by the end of 2026. This channel management is supported by working on other power projects and generation solutions to use their gas locally in the Midland Basin.

Capital spent on infrastructure, environmental, and midstream assets during Q2 2025 was $67 million.

NGL processing and fractionation facilities

Natural Gas Liquids (NGLs) require specific processing and fractionation to be sold as distinct products like ethane, propane, and butane. Diamondback Energy, Inc.'s operational efficiency directly impacts the yield and value captured through these facilities.

Significant improvements in gas capture and NGL yield were reported, driven by enhanced power solutions at midstream facilities in Martin County. This resulted in an NGL production increase of 33,000 barrels per day in Q2 2025 over Q1 2025. In Q1 2025, the average unhedged realized price for NGLs was $23.94 per barrel. Furthermore, the company sold Environmental Disposal Systems in October 2025 for $694 million in upfront cash, while retaining a 30% equity interest. This sale relates to infrastructure that supports the overall system, though the direct NGL processing assets are often held or contracted through third parties, with Diamondback Energy, Inc. focusing on optimizing the input stream.

Public equity markets (NASDAQ: FANG) for investor access

The public equity market is the channel through which Diamondback Energy, Inc. raises capital, manages its shareholder base, and establishes its market valuation. The stock trades on the NASDAQ under the ticker FANG.

As of November 2025, Diamondback Energy, Inc. had a market capitalization of approximately $45.42 billion. The company maintains a commitment to shareholder returns through dividends and buybacks. The declared Q3 2025 base cash dividend was $1.00 per share, payable on November 20, 2025, implying an annualized yield of about 2.8% based on an October 31, 2025 closing price of $143.19. In Q3 2025 alone, the company repurchased 4,286,080 shares of common stock for approximately $603 million.

• Exchange: NASDAQ-GS
• Annualized Dividend: $4.00 per share
• Q3 2025 Share Repurchase Price (Weighted Avg): $140.70 per share
• Total Authorized Share Repurchase Capacity (as of July 31, 2025): $8.0 billion

Diamondback Energy, Inc. (FANG) - Canvas Business Model: Customer Segments

Diamondback Energy, Inc. (FANG) primarily serves customers through its Upstream segment, which involves the exploration, development, and production of crude oil and natural gas reserves. The company also has a Midstream segment that serves third-party customers.

The TTM (Trailing Twelve Months) revenue as of June 30, 2025, shows the scale of the primary customer base purchasing hydrocarbons:

Segment	TTM Revenue (as of June 30, 2025)	Percentage of Total Revenue (Implied)
Upstream	$12.80 Billion	~99.61%
Midstream	$53.00 Million	~0.39%

The Upstream segment's customers are implicitly the major integrated oil companies and independent refiners who purchase crude oil, as well as natural gas and NGL processors and marketers who buy the associated gas and NGLs produced. While Diamondback Energy, Inc. does not publicly break down sales by these specific buyer types, the $12.80 Billion in Upstream revenue as of June 30, 2025, represents the total sales to this collective group.

For the Natural gas and NGL processors and marketers, Diamondback Energy, Inc. is also exploring innovative opportunities, such as potential partnerships with hyperscalers for data centers that could utilize its produced gas while providing power solutions for their operations. Furthermore, the company received $694 million in upfront cash proceeds from the October 1st divestiture of Environmental Disposal Systems, LLC to Deep Blue Midland Basin LLC, in which Diamondback Energy, Inc. retained a 30% equity ownership.

Institutional investors focused on free cash flow and returns are a critical segment, as evidenced by the company's capital return framework. Diamondback Energy, Inc. returned capital to stockholders through dividends and repurchases based on its strong cash generation:

• Net cash provided by operating activities for the third quarter of 2025 was $2.4 billion.
• Free Cash Flow for the third quarter of 2025 was $1.8 billion.
• The declared Q3 2025 base cash dividend was $1.00 per share, implying an annualized yield of 2.8% based on the October 31, 2025 closing share price of $143.19.
• Total return of capital in Q3 2025 was $892 million, representing 50% of Adjusted Free Cash Flow from stock repurchases and the declared base dividend.
• The company had $3.0 billion remaining capacity under its share repurchase authorization as of October 31, 2025.

Third-party midstream customers utilize Diamondback Energy, Inc.'s infrastructure assets. The Midstream segment generated $53.00 Million in TTM revenue as of June 30, 2025. Diamondback Energy, Inc. owns and operates these assets, providing services under long-term, fixed-fee contracts to these external users.

Diamondback Energy, Inc. (FANG) - Canvas Business Model: Cost Structure

The Cost Structure for Diamondback Energy, Inc. centers on significant capital deployment for development, coupled with substantial operating expenses tied to production volumes. This structure reflects a focus on maximizing capital efficiency in the Permian Basin.

Capital expenditures: Full-year 2025 guidance is set in the range of $3.4 - $3.6 billion. This figure was revised downward from earlier projections, reflecting a deliberate moderation of activity combined with efficiency gains following recent acquisitions. For the fourth quarter of 2025, capital expenditures are expected to be between $875 - $975 million.

The full-year 2025 capital budget breakdown, as of late 2025 guidance, shows where the majority of this spending is allocated:

Cost Component	Full Year 2025 Guidance (Millions USD)
Operated drilling and completion	$2,925 - $2,950
Capital workovers, non-operated properties and science	$300 - $350
Infrastructure, environmental and midstream	$225 - $250
Total Cash Capital Expenditures	$3,450 - $3,550

For context on execution, cash capital expenditures for the first half of 2025 totaled $1.8 billion.

Lease operating expenses (LOE): For the year-to-date period ending in the third quarter of 2025, Lease Operating Expenses were reported at $5.42 per Boe (Barrel of Oil Equivalent). This compares to $5.26 per Boe for the second quarter of 2025.

Interest expense on total debt of $16.24 billion (Sep 2025): Diamondback Energy, Inc. reported $16.24 Billion USD in total debt on its balance sheet as of September 2025. The company also reduced its 2025 term loan balance by $500 million in the fourth quarter.

Drilling, completion, and infrastructure development costs: These are primarily captured within the capital expenditure categories. Diamondback Energy, Inc. has established specific well cost targets based on basin location for 2025:

• Midland Basin well costs per lateral foot: $550 - $580.
• Delaware Basin well costs per lateral foot: $860 - $910.

The company expects to complete between 471 - 481 net horizontal wells in 2025.

Gathering, processing, and transportation fees: Based on first quarter 2025 results, the cost for gathering, processing and transportation expenses was $1.45 per BOE. This cost component, along with Lease Operating Expenses and Cash G&A, contributes to the total cash operating expenses.

The total cash operating expenses for the year-to-date through Q3 2025 were $10.05 per Boe, which includes:

• Lease operating expenses: $5.42 per Boe.
• Cash G&A expenses: $0.60 per Boe.
• Gathering, processing and transportation: Included in the total, with the Q1 figure being $1.45 per BOE.

Finance: draft 13-week cash view by Friday.

Diamondback Energy, Inc. (FANG) - Canvas Business Model: Revenue Streams

You're looking at the core ways Diamondback Energy, Inc. turns its Permian Basin assets into cash flow as of late 2025. It's a story dominated by barrels and dollars, but also supported by strategic portfolio management.

Sales of crude oil (primary source)

The bulk of Diamondback Energy, Inc.'s revenue comes from selling crude oil, which is the lifeblood of the business. For the third quarter of 2025, the company demonstrated strong operational execution, hitting the top end of its guidance.

Here are the key production metrics driving this revenue stream for Q3 2025:

• Average oil production: 503.8 MBO/d (thousand barrels of oil per day).
• Total production (all liquids and gas): 942.9 MBOE/d (thousand barrels of oil-equivalent per day).

The company's realized price for oil directly impacts this revenue stream. For its subsidiary Viper Energy Partners in Q3 2025, the average unhedged realized oil price was $64.34 per barrel. Diamondback Energy, Inc.'s total revenue for Q3 2025 was reported as $3,924 million.

Sales of natural gas and natural gas liquids (NGLs)

Natural gas and NGL sales provide the secondary commodity revenue. While the specific dollar split from the total revenue isn't explicitly broken down by commodity for Diamondback Energy, Inc. in the latest reports, Viper Energy Partners' realized prices give you a clear view of the underlying commodity value:

Metric	Q3 2025 Realized Price (Unhedged)
Natural Gas	$1.02 per Mcf
Natural Gas Liquids (NGLs)	$19.07 per barrel
Total Equivalent Realized Price (Viper)	$39.24/boe

The total revenue for the trailing twelve months ending September 30, 2025, reached $15.361B.

Mineral and royalty income from Viper Energy Partners

Diamondback Energy, Inc. generates income through its ownership of Viper Energy Partners, which holds mineral and royalty interests. This is a non-operated, lower-cost revenue source. For Q3 2025, Viper's pro forma cash available for distribution to its Class A common shares was $165 million. This figure represents the cash generated from the royalty assets before distributions.

Viper Energy Partners also reported its Q3 2025 production figures, which feed into this income stream:

• Q3 2025 average production (Viper): 56,087 bo/d.
• Q3 2025 average production (Viper): 108,859 boe/d.

Also, Viper announced a total base-plus-variable dividend of $0.58 per Class A common share for Q3 2025.

Cash from asset divestitures, like $694 million from EDS sale

Diamondback Energy, Inc. actively monetizes non-core assets to enhance liquidity and fund capital returns. The company closed two significant transactions around the end of Q3 2025:

• Sale of Environmental Disposal Systems, LLC (EDS) to Deep Blue: Received $694 million in upfront cash proceeds, with potential for up to $200 million in contingent consideration. This closing occurred on October 1st.
• Sale of EPIC Crude interest: Received $504 million in upfront cash, plus up to $96 million in contingent cash payment.

The total upfront cash from these two major post-quarter asset sales is approximately $1.198 billion ($694 million + $504 million). Diamondback Energy, Inc. returned $892 million to shareholders in Q3 2025 through dividends and buybacks, representing 50% of its Adjusted Free Cash Flow.

Midstream service fees from third-party customers

While Diamondback Energy, Inc. has infrastructure investments, including retaining a 30% equity ownership in Deep Blue following the EDS sale, specific reported revenue figures for midstream service fees charged to third-party customers are not explicitly detailed in the Q3 2025 summary data available. The company's capital expenditures included $67 million for infrastructure, environmental, and midstream in Q2 2025.