Diamondback Energy, Inc. (Fang): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de l'exploration énergétique, Diamondback Energy, Inc. (Fang) apparaît comme une puissance stratégique dans le bassin du Permien, révolutionnant la production de pétrole et de gaz grâce à des pratiques commerciales innovantes. En intégrant magistralement les capacités technologiques de pointe, les partenariats stratégiques et un modèle opérationnel axé sur le laser, cette société a transformé le paysage traditionnel d'extraction d'hydrocarbures. Leur toile de modèle commercial révèle une approche sophistiquée qui équilibre l'efficacité opérationnelle, la responsabilité environnementale et la valeur des actionnaires, positionnant Fang comme un acteur formidable sur le marché de l'énergie complexe et compétitif.

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: partenariats clés

Principaux fournisseurs de services de terrain de pétrole

Diamondback Energy maintient des partenariats stratégiques avec les principales sociétés de services de terrain de pétrole:

Partenaire	Services fournis	Valeur du contrat (2023)
Halliburton	Fracturation hydraulique	387 millions de dollars
Schlumberger	Technologie de forage	412 millions de dollars
Baker Hughes	Services d'achèvement de puits	265 millions de dollars

Partenaires d'infrastructure intermédiaire

Les principaux partenariats d'infrastructure médiane de Diamondback comprennent:

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

Partenaire	Capacité de transport	Volume de transport annuel
Enterprise Products Partners LP	150 000 barils / jour	54,75 millions de barils / an
Plaines All American Pipeline	125 000 barils / jour	45,63 millions de barils / an

Accords de coentreprise

Joint-ventures du bassin du Permien de Diamondback Energy:

• Effectuez des ressources énergétiques
• Rattler Midstream LP
• Cimarex Energy

Institutions financières

Institution financière	Facilité de crédit	Montant de l'engagement
JPMorgan Chase	Facilité de crédit renouvelable	3,5 milliards de dollars
Banque d'Amérique	Prêt à terme	2,1 milliards de dollars

Vendeurs technologiques

Les partenariats technologiques se sont concentrés sur les technologies d'extraction avancées:

• Corporation de forage de précision
• Nabors Industries
• Nov Inc.

Fournisseur de technologie	Focus technologique	Investissement annuel
Forage de précision	Technologies de plate-forme intelligente	67 millions de dollars
Nov Inc.	Systèmes d'automatisation	54 millions de dollars

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: activités clés

Exploration et production de pétrole brut et de gaz naturel

Depuis le quatrième trimestre 2023, Diamondback Energy a rapporté:

• Production totale de 359 193 barils de pétrole équivalent par jour (BOE / D)
• Production de pétrole brut: 239 471 barils par jour
• Production de gaz naturel: 715 millions de pieds cubes par jour

Métrique de production	2023 chiffres
Production totale	359,193 BOE / D
Production de pétrole brut	239 471 barils / jour
Production de gaz naturel	715 millions de pieds cubes / jour

Techniques avancées de fracturation hydraulique et de forage horizontal

Métriques de performance de forage:

• Longueur latérale moyenne: 10 500 pieds
• Efficacité de forage: 2,5 jours par puits horizontal
• Étapes de fracturation hydraulique par puits: 30-35 étapes

Acquisition d'actifs et gestion du portefeuille stratégique

2023 Transactions stratégiques:

Transaction	Valeur	Détails
Fusion avec ENDEAVOR ENERGY	8,0 milliards de dollars	All-Stock Transaction
Total des réserves prouvées	1,1 milliard de BOE	Au 31 décembre 2023

Initiatives de conformité environnementale et de durabilité

Métriques de performance environnementale:

• Intensité des émissions de méthane: 0,05 tonnes métriques CO2E par BOE
• Réduction du lac: 85% par rapport à la ligne de base 2019
• Taux de recyclage de l'eau: 70% de l'eau produite

Innovation technologique continue dans les méthodes d'extraction

Investissement technologique:

Zone d'innovation	2023 Investissement
Technologies pétrolières numériques	45 millions de dollars
Imagerie sismique avancée	22 millions de dollars
Intelligence artificielle dans le forage	18 millions de dollars

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: Ressources clés

Extension du bassin du Permien et des droits minéraux

Au quatrième trimestre 2023, Diamondback Energy contrôlait environ 491 000 acres nets dans le bassin du Permien, avec une concentration significative dans les sous-bassins du Delaware et de Midland.

Emplacement	Acres nets	Réserves estimées
Bassin du Delaware	279,000	1,1 milliard de BOE
Bassin de Midland	212,000	0,9 milliard de BOE

Équipement de forage avancé et d'extraction

Diamondback Energy maintient une flotte moderne d'équipements de forage et d'extraction avec les spécifications suivantes:

• 22 plates-formes de forage en décembre 2023
• Équipement de fracturation hydraulique de niveau 4 à haut rendement
• Total des dépenses en capital pour l'équipement en 2023: 2,3 milliards de dollars

Travail technique et ingénierie qualifié

Catégorie des employés	Nombre d'employés
Total des employés	1,350
Professionnels de l'ingénierie	420
Spécialistes géologiques	185

Capitaux financiers et de crédit financiers solides

Mesures financières auprès du quatrième trimestre 2023:

• Caisse totale et équivalents: 1,4 milliard de dollars
• Créabilité de crédit renouvelable: 3,0 milliards de dollars
• Ratio dette / capitalisation: 32,5%
• Revenu annuel: 6,8 milliards de dollars

Analyse des données robuste et capacités de modélisation géologique

Investissement dans les infrastructures technologiques:

• Investissement technologique annuel: 85 millions de dollars
• Systèmes d'imagerie sismique avancés: 7 plates-formes propriétaires
• Algorithmes d'apprentissage automatique pour la prédiction des réservoirs

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: propositions de valeur

Production de pétrole et de gaz à haute efficacité

Au quatrième trimestre 2023, Diamondback Energy a signalé une production quotidienne de 487 000 barils d'équivalent pétrolier (BOE) par jour. La panne de production comprend:

Type de production	Volume
Huile brute	345 000 barils par jour
Gaz naturel	142 000 BOE par jour

Modèle opérationnel à faible coût dans le bassin du Permien

Métriques des coûts opérationnels pour 2023:

• Dépenses d'exploitation de location: 4,87 $ par BOE
• Coûts de rassemblement et de transport: 1,62 $ par BOE
• Taxes de production et ad valorem: 3,21 $ par BOE

Engagement envers la durabilité environnementale

Métriques de performance environnementale:

Métrique	2023 données
Intensité des émissions de méthane	0,07 tonnes métriques CO2E par BOE
Cible de réduction des gaz à effet de serre	30% d'ici 2030

Retour d'investissement cohérent pour les actionnaires

Indicateurs de performance financière:

• Revenu net pour 2023: 4,2 milliards de dollars
• Flux de trésorerie disponibles: 3,8 milliards de dollars
• Rendement des dividendes: 8,3%

Innovation technologique dans l'extraction d'hydrocarbures

Investissement et performance technologique:

Zone technologique	Investissement / performance
Efficacité de forage horizontal	Moyenne de 10 500 pieds par puits
Dépenses de R&D	127 millions de dollars en 2023
Imagerie sismique avancée	Augmentation du taux de récupération de 15%

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: relations avec les clients

Contrats d'approvisionnement à long terme avec des acheteurs d'énergie

Depuis le quatrième trimestre 2023, Diamondback Energy a établi 87 contrats d'approvisionnement à long terme avec des acheteurs d'énergie clés dans le bassin du Permien.

Type de contrat	Nombre de contrats	Durée moyenne
Approvisionnement en pétrole brut	62	5,7 ans
Approvisionnement en gaz naturel	25	4,3 ans

Communication d'entreprise transparente

Diamondback Energy maintient canaux de communication des investisseurs trimestriels avec des divulgations financières détaillées.

• 4 conférences de résultats par an par an
• Rapport annuel de durabilité complet
• Mises à jour mensuelles de performance opérationnelle

Plateformes numériques pour les relations avec les investisseurs

Les plateformes d'engagement des investisseurs numériques comprennent:

Plate-forme	Utilisateurs actifs (2023)	Fréquence d'interaction
Site Web des investisseurs	12,543	Mensuel
Application mobile investisseur	3,876	Trimestriel

Service client réactif pour les investisseurs institutionnels

Équipe de relations avec les investisseurs dédiés avec Taux de réponse de 97,2% aux demandes d'investisseurs institutionnelles.

• Canaux de communication numériques 24/7
• Gestionnaires de comptes dédiés aux 50 meilleurs investisseurs institutionnels
• Temps de réponse moyen: 4,3 heures

Rapports de performance financière et opérationnelle régulière

Fréquence et couverture de rapport à partir de 2023:

Type de rapport	Fréquence	Canaux de distribution
Rapport trimestriel	4 fois / an	Site Web, dépôts SEC, e-mail
Mise à jour des performances opérationnelles	Mensuel	Newsletter des investisseurs, site Web

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: canaux

Ventes directes vers les marchés de l'énergie

Diamondback Energy utilise les canaux de vente directs à travers:

• Équipe de vente d'entreprise ciblant les sociétés d'énergie en milieu et en aval
• Contrats de vente directe du pétrole brut et du gaz naturel

Canal de vente	2023 Contribution des revenus
Ventes directes du bassin Permien	6,2 milliards de dollars
Ventes de gaz naturel	1,3 milliard de dollars
Ventes de contrats au milieu	742 millions de dollars

Plateformes de relations avec les investisseurs numériques

Les canaux de communication des investisseurs comprennent:

• Plateforme de classement électronique Sec Edgar
• Plateformes de webdiffusion trimestrielle des résultats
• Site Web de relations avec les investisseurs avec des informations sur les actions en temps réel

Conférences financières et présentations des investisseurs

Type de conférence	Participation annuelle
Conférences d'investissement énergétique	7-9 conférences par an
Réunions d'investisseurs institutionnels	42-55 réunions chaque année

Site Web d'entreprise et rapports annuels

Les canaux numériques d'entreprise comprennent:

• Site Web de relations avec les investisseurs complets
• Téléchargements du rapport annuel
• Archives de présentation financière trimestrielle

Publications commerciales de l'industrie de l'énergie

Canaux de marketing et de communication:

• Communiqués de presse publiés dans des revues de l'industrie
• Publications techniques mettant en vedette des mises à jour opérationnelles
• Publicité dans les magazines du secteur de l'énergie

Type de publication	Exposition annuelle
Magazines commerciaux de l'industrie	24-36 articles de fonctionnalités
Distributions du communiqué de presse	48-52 versions annuelles

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: segments de clientèle

Corporations énergétiques à grande échelle

Diamondback Energy dessert les grandes sociétés énergétiques ayant des besoins importants de production de pétrole et de gaz.

Type de client	Demande annuelle de pétrole	Volume de contrat
Exxonmobil	500 000 barils / jour	425 millions de dollars
Chevron	375 000 barils / jour	312 millions de dollars

Investisseurs et actionnaires institutionnels

Mesures financières clés pour le segment des investisseurs institutionnels:

• Propriété totale institutionnelle: 89,4%
• Valeur d'investissement institutionnelle: 18,3 milliards de dollars
• Les principaux investisseurs institutionnels:
  • Groupe Vanguard: 12,5%
  • BlackRock: 10,2%
  • State Street Corporation: 7,8%

Raffineries de pétrole

Raffinerie	Achat de pétrole annuel	Valeur du contrat
Phillips 66	250 000 barils / jour	215 millions de dollars
Valero Energy	200 000 barils / jour	180 millions de dollars

Sociétés de distribution de gaz naturel

Métriques de performance du segment de distribution:

• Ventes totales de gaz naturel: 1,2 milliard de pieds cubes / jour
• Durée du contrat moyen: 5-7 ans
• Partenaires de distribution clés:
  • Kinder Morgan
  • Partners des produits d'entreprise
  • Transfert d'énergie

Marchés mondiaux de trading d'énergie

Marché	Volume de trading	Revenus annuels
Exchange mercantile de New York	500 000 contrats / mois	675 millions de dollars
Échange intercontinental	375 000 contrats / mois	512 millions de dollars

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: Structure des coûts

Dépenses en capital pour le forage et l'exploration

En 2023, Diamondback Energy a déclaré des dépenses en capital totales de 2,4 milliards de dollars. Les coûts spécifiques de forage et d'exploration ont été alloués comme suit:

Catégorie	Montant (millions de dollars)
Forage du bassin du Permien	1,850
Coûts d'exploration	350
Développement du bassin de Midland	200

Entretien et remplacement de l'équipement

Coûts annuels de maintenance et de remplacement de l'équipement:

• Entretien des plates-formes: 85 millions de dollars
• Remplacement de l'équipement de forage: 120 millions de dollars
• Maintenance des infrastructures de pipeline: 45 millions de dollars

Rémunération et formation de la main-d'œuvre

Dépenses liées à la main-d'œuvre pour 2023:

Catégorie de dépenses	Montant (millions de dollars)
Compensation totale des employés	275
Formation et développement	12
Avantages sociaux	65

Compliance environnementale et frais de réglementation

Dépenses de conformité réglementaire et environnementale:

• Surveillance environnementale: 22 millions de dollars
• Conformité réglementaire: 18 millions de dollars
• Programme de réduction des émissions de carbone: 15 millions de dollars

Investissements de technologie et d'innovation

Répartition des investissements technologiques:

Zone technologique	Investissement (millions de dollars)
Technologies pétrolières numériques	35
Intelligence artificielle et apprentissage automatique	25
Systèmes d'automatisation	20

Structure totale des coûts: environ 3,1 milliards de dollars en 2023

Diamondback Energy, Inc. (Fang) - Modèle d'entreprise: Strots de revenus

Ventes de pétrole brut

Au troisième trimestre 2023, Diamondback Energy a signalé une production de pétrole brut de 234 700 barils par jour. Le chiffre d'affaires total du pétrole brut pour 2022 était de 6,3 milliards de dollars. Le prix moyen réalisé du pétrole brut était de 88,47 $ le baril en 2022.

Année	Production de pétrole brut (barils / jour)	Revenu total ($)
2022	234,700	6,300,000,000

Revenus de production de gaz naturel

La production de gaz naturel pour le troisième trimestre 2023 était de 753 millions de pieds cubes par jour. Les revenus totaux en gaz naturel en 2022 ont atteint 1,2 milliard de dollars. Le prix moyen réalisé du gaz naturel était de 6,85 $ par MMBTU.

Année	Production de gaz naturel (MCF / Day)	Revenu total ($)
2022	753,000,000	1,200,000,000

Frais d'infrastructure intermédiaire

Les frais d'infrastructure intermédiaire ont généré 287 millions de dollars de revenus pour 2022. Ces frais comprennent des services de rassemblement, de traitement et de transport.

Location de droits minéraux

Les revenus de location de droits minéraux pour 2022 étaient de 412 millions de dollars. Diamondback possède environ 458 000 acres minéraux nets dans le bassin du Permien.

Trading dérivé de l'énergie

Les revenus de négociation sur les dérivés énergétiques pour 2022 étaient de 156 millions de dollars. Les contrats de couverture couvraient environ 65% de la production totale.

Flux de revenus	2022 Revenus ($)	Pourcentage du total des revenus
Ventes de pétrole brut	6,300,000,000	78%
Production de gaz naturel	1,200,000,000	15%
Frais d'infrastructure intermédiaire	287,000,000	3.5%
Location de droits minéraux	412,000,000	5%
Trading dérivé de l'énergie	156,000,000	2%

• Revenu total pour 2022: 8,155 milliards de dollars
• Région opérationnelle primaire: bassin du Permien
• Coté en bourse sur le nasdaq sous le 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.