Diamondback Energy, Inc. (FANG): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da exploração de energia, a Diamondback Energy, Inc. (FANG) surge como uma potência estratégica na bacia do Permiano, revolucionando a produção de petróleo e gás por meio de práticas de negócios inovadoras. Ao integrar magistralmente capacidades tecnológicas de ponta, parcerias estratégicas e um modelo operacional focado a laser, esta empresa transformou o cenário tradicional de extração de hidrocarbonetos. Seu modelo de negócios Canvas revela uma abordagem sofisticada que equilibra a eficiência operacional, a responsabilidade ambiental e o valor dos acionistas, posicionando a Fang como um participante formidável no mercado de energia complexo e competitivo.

Diamondback Energy, Inc. (FANG) - Modelo de negócios: parcerias -chave

Principais provedores de serviços de campo de petróleo

A Diamondback Energy mantém parcerias estratégicas com as principais empresas de serviços de campo de petróleo:

Parceiro	Serviços prestados	Valor do contrato (2023)
Halliburton	Fraturamento hidráulico	US $ 387 milhões
Schlumberger	Tecnologia de perfuração	US $ 412 milhões
Baker Hughes	Bem os serviços de conclusão	US $ 265 milhões

Parceiros de infraestrutura média

As principais parcerias de infraestrutura do Midstream do Diamondback incluem:

• Enterprise Products Partners LP
• Magellan Midstream Partners
• Plains todo o oleoduto

Parceiro	Capacidade de transporte	Volume anual de transporte
Enterprise Products Partners LP	150.000 barris/dia	54,75 milhões de barris/ano
Plains todo o oleoduto	125.000 barris/dia	45,63 milhões de barris/ano

Acordos de joint venture

Ventres da Bacia Permiana da Diamondback Energy:

• Equipe Recursos Energéticos
• Rattler Midstream LP
• Energia Cimarex

Instituições financeiras

Instituição financeira	Linha de crédito	Quantidade de compromisso
JPMorgan Chase	Linha de crédito rotativo	US $ 3,5 bilhões
Bank of America	Empréstimo a prazo	US $ 2,1 bilhões

Fornecedores de tecnologia

Parcerias de tecnologia focadas em tecnologias avançadas de extração:

• Corporação de perfuração de precisão
• Nabors Industries
• Nov Inc.

Fornecedor de tecnologia	Foco em tecnologia	Investimento anual
Perfuração de precisão	Tecnologias Smart Rig	US $ 67 milhões
Nov Inc.	Sistemas de automação	US $ 54 milhões

Diamondback Energy, Inc. (FANG) - Modelo de negócios: Atividades -chave

Exploração e produção de petróleo bruto e gás natural

A partir do quarto trimestre 2023, a Diamondback Energy relatou:

• Produção total de 359.193 barris de petróleo equivalente por dia (BOE/D)
• Produção de petróleo bruto: 239.471 barris por dia
• Produção de gás natural: 715 milhões de pés cúbicos por dia

Métrica de produção	2023 Figuras
Produção total	359.193 BOE/D.
Produção de petróleo bruto	239.471 barris/dia
Produção de gás natural	715 milhões de pés cúbicos/dia

Técnicas avançadas de fraturamento hidráulico e de perfuração horizontal

Métricas de desempenho de perfuração:

• Comprimento lateral médio: 10.500 pés
• Eficiência de perfuração: 2,5 dias por poço horizontal
• Estágios de fraturamento hidráulico por poço: 30-35 estágios

Aquisição de ativos e gerenciamento de portfólio estratégico

2023 Transações estratégicas:

Transação	Valor	Detalhes
Fusão com energia de empreendimentos	US $ 8,0 bilhões	Transação de All-Stock
Reservas totais comprovadas	1,1 bilhão de Boe	Em 31 de dezembro de 2023

Iniciativas de conformidade ambiental e sustentabilidade

Métricas de desempenho ambiental:

• Intensidade de emissões de metano: 0,05 toneladas métricas CO2E por boe
• Redução de queima: 85% em comparação com a linha de base de 2019
• Taxa de reciclagem de água: 70% da água produzida

Inovação tecnológica contínua em métodos de extração

Investimento em tecnologia:

Área de inovação	2023 Investimento
Tecnologias digitais de campo petrolífero	US $ 45 milhões
Imagem sísmica avançada	US $ 22 milhões
Inteligência artificial na perfuração	US $ 18 milhões

Diamondback Energy, Inc. (FANG) - Modelo de negócios: Recursos -chave

Extensos direitos de terra e mineral da bacia do Permiano

No quarto trimestre 2023, a Diamondback Energy controlava aproximadamente 491.000 acres líquidos na bacia do Permiano, com uma concentração significativa nos sub-bacias de Delaware e Midland.

Localização	Líquido acres	Reservas estimadas
Bacia de Delaware	279,000	1,1 bilhão de Boe
Bacia Midland	212,000	0,9 bilhão de boe

Equipamento avançado de perfuração e extração

A Diamondback Energy mantém uma frota moderna de equipamentos de perfuração e extração com as seguintes especificações:

• 22 Platas de perfuração em dezembro de 2023
• Equipamento de fraturamento hidráulico predominantemente de alta eficiência 4
• Despesas totais de capital para equipamentos em 2023: US $ 2,3 bilhões

Força de trabalho técnica e de engenharia qualificada

Categoria de funcionários	Número de funcionários
Total de funcionários	1,350
Profissionais de engenharia	420
Especialistas geológicos	185

Capital financeiro e linhas de crédito fortes

Métricas financeiras a partir do quarto trimestre 2023:

• Caixa total e equivalentes: US $ 1,4 bilhão
• Linha de crédito rotativo: US $ 3,0 bilhões
• Taxa de dívida / capitalização: 32,5%
• Receita anual: US $ 6,8 bilhões

Robustos de análise de dados e recursos de modelagem geológica

Investimento em infraestrutura tecnológica:

• Investimento de tecnologia anual: US $ 85 milhões
• Sistemas de imagem sísmica avançada: 7 plataformas proprietárias
• Algoritmos de aprendizado de máquina para previsão de reservatório

Diamondback Energy, Inc. (FANG) - Modelo de negócios: proposições de valor

Produção de petróleo e gás de alta eficiência

A partir do quarto trimestre de 2023, a Diamondback Energy relatou a produção diária de 487.000 barris de petróleo equivalente (BOE) por dia. O colapso da produção inclui:

Tipo de produção	Volume
Petróleo bruto	345.000 barris por dia
Gás natural	142.000 Boe por dia

Modelo operacional de baixo custo na bacia do Permiano

Métricas de custo operacional para 2023:

• Despesas operacionais de arrendamento: US $ 4,87 por Boe
• Custos de coleta e transporte: US $ 1,62 por Boe
• Impostos de produção e valorem: US $ 3,21 por Boe

Compromisso com a sustentabilidade ambiental

Métricas de desempenho ambiental:

Métrica	2023 dados
Intensidade de emissões de metano	0,07 toneladas métricas
Alvo de redução de gases de efeito estufa	30% até 2030

Retorno consistente do investimento para os acionistas

Indicadores de desempenho financeiro:

• Lucro líquido para 2023: US $ 4,2 bilhões
• Fluxo de caixa livre: US $ 3,8 bilhões
• Rendimento de dividendos: 8,3%

Inovação tecnológica na extração de hidrocarbonetos

Investimento em tecnologia e desempenho:

Área de tecnologia	Investimento/desempenho
Eficiência de perfuração horizontal	Média de 10.500 pés por poço
Gastos em P&D	US $ 127 milhões em 2023
Imagem sísmica avançada	Aumento da taxa de recuperação em 15%

Diamondback Energy, Inc. (FANG) - Modelo de negócios: relacionamentos com o cliente

Contratos de fornecimento de longo prazo com compradores de energia

A partir do quarto trimestre 2023, a Diamondback Energy estabeleceu 87 contratos de fornecimento de longo prazo com os principais compradores de energia em toda a bacia do Permiano.

Tipo de contrato	Número de contratos	Duração média
Suprimento de petróleo bruto	62	5,7 anos
Suprimento de gás natural	25	4,3 anos

Comunicação corporativa transparente

A Diamondback Energy mantém canais trimestrais de comunicação de investidores com divulgações financeiras detalhadas.

• 4 teleconferência de ganhos por ano
• Relatório abrangente de sustentabilidade anual
• Atualizações mensais de desempenho operacional

Plataformas digitais para relações com investidores

As plataformas de engajamento de investidores digitais incluem:

Plataforma	Usuários ativos (2023)	Frequência de interação
Site de investidores	12,543	Mensal
Aplicativo móvel do investidor	3,876	Trimestral

Atendimento ao cliente responsivo para investidores institucionais

Equipe de relações com investidores dedicados com 97,2% de taxa de resposta para consultas institucionais de investidores.

• Canais de comunicação digital 24/7
• Gerentes de conta dedicados para os 50 principais investidores institucionais
• Tempo médio de resposta: 4,3 horas

Relatórios regulares de desempenho financeiro e operacional

Frequência de relatórios e cobertura a partir de 2023:

Tipo de relatório	Freqüência	Canais de distribuição
Relatório de ganhos trimestrais	4 vezes/ano	Site, registros da SEC, email
Atualização de desempenho operacional	Mensal	Newsletter Investor, site

Diamondback Energy, Inc. (FANG) - Modelo de Negócios: Canais

Vendas diretas para mercados de energia

A Diamondback Energy utiliza canais de vendas diretos por meio de:

• Equipe de vendas corporativa direcionando empresas de energia Midstream e a jusante
• Contratos diretos de vendas de petróleo e gás natural

Canal de vendas	2023 Contribuição da receita
Vendas diretas da bacia do Permiano	US $ 6,2 bilhões
Vendas de gás natural	US $ 1,3 bilhão
Vendas de contratos médios	US $ 742 milhões

Plataformas de relações com investidores digitais

Os canais de comunicação dos investidores incluem:

• Plataforma de arquivamento eletrônico da SEC Edgar
• Plataformas trimestrais de webcast
• Site de relações com investidores com informações de ações em tempo real

Conferências financeiras e apresentações de investidores

Tipo de conferência	Participação anual
Conferências de investimento em energia	7-9 conferências por ano
Reuniões institucionais de investidores	42-55 reuniões anualmente

Site corporativo e relatórios anuais

Os canais digitais corporativos incluem:

• Site abrangente de relações com investidores
• Downloads de relatórios anuais
• Arquivos trimestrais de apresentação financeira

Publicações comerciais da indústria de energia

Canais de marketing e comunicação:

• Comunicados de imprensa publicados em periódicos do setor
• Publicações técnicas com atualizações operacionais
• Publicidade em revistas do setor de energia

Tipo de publicação	Exposição anual
Revistas comerciais da indústria	24-36 apresentam artigos
Distribuições de comunicado à imprensa	48-52 lançamentos anuais

Diamondback Energy, Inc. (FANG) - Modelo de negócios: segmentos de clientes

Empresas de energia em larga escala

A Diamondback Energy atende às principais corporações de energia com necessidades significativas de produção de petróleo e gás.

Tipo de cliente	Demanda anual de petróleo	Volume de contrato
ExxonMobil	500.000 barris/dia	US $ 425 milhões
Chevron	375.000 barris/dia	US $ 312 milhões

Investidores institucionais e acionistas

Principais métricas financeiras para segmento de investidores institucionais:

• Propriedade institucional total: 89,4%
• Valor institucional de investimento: US $ 18,3 bilhões
• Os principais investidores institucionais:
  • Grupo Vanguard: 12,5%
  • BlackRock: 10,2%
  • State Street Corporation: 7,8%

Refinarias de petróleo

Refinaria	Aquisição anual de petróleo	Valor do contrato
Phillips 66	250.000 barris/dia	US $ 215 milhões
Energia Valero	200.000 barris/dia	US $ 180 milhões

Empresas de distribuição de gás natural

Métricas de desempenho do segmento de distribuição:

• Vendas totais de gás natural: 1,2 bilhão de pés cúbicos/dia
• Duração média do contrato: 5-7 anos
• Parceiros de distribuição -chave:
  • Morgan mais gentil
  • Enterprise Products Partners
  • Transferência de energia

Mercados de Negociação de Energia Globais

Mercado	Volume de negociação	Receita anual
NOVA YORK Mercantile Exchange	500.000 contratos/mês	US $ 675 milhões
Intercâmbio intercontinental	375.000 contratos/mês	US $ 512 milhões

Diamondback Energy, Inc. (FANG) - Modelo de negócios: estrutura de custos

Despesas de capital para perfuração e exploração

Em 2023, a Diamondback Energy registrou despesas totais de capital de US $ 2,4 bilhões. Os custos específicos de perfuração e exploração foram alocados da seguinte forma:

Categoria	Valor (US $ milhões)
Perfuração da bacia do Permiano	1,850
Custos de exploração	350
Desenvolvimento da Bacia Midland	200

Manutenção e substituição de equipamentos

Custos anuais de manutenção e substituição de equipamentos:

• Manutenção da plataforma: US $ 85 milhões
• Substituição de equipamentos de perfuração: US $ 120 milhões
• Manutenção da infraestrutura de pipeline: US $ 45 milhões

Compensação e treinamento da força de trabalho

Despesas relacionadas à força de trabalho para 2023:

Categoria de despesa	Valor (US $ milhões)
Compensação total dos funcionários	275
Treinamento e desenvolvimento	12
Benefícios dos funcionários	65

Conformidade ambiental e custos regulatórios

Despesas de conformidade regulatória e ambiental:

• Monitoramento ambiental: US $ 22 milhões
• Conformidade regulatória: US $ 18 milhões
• Programa de redução de emissões de carbono: US $ 15 milhões

Investimentos de tecnologia e inovação

Redução de investimentos em tecnologia:

Área de tecnologia	Investimento (US $ milhões)
Tecnologias digitais de campo petrolífero	35
Inteligência artificial e aprendizado de máquina	25
Sistemas de automação	20

Estrutura de custo total: aproximadamente US $ 3,1 bilhões em 2023

Diamondback Energy, Inc. (FANG) - Modelo de negócios: fluxos de receita

Vendas de petróleo bruto

No terceiro trimestre de 2023, a Diamondback Energy relatou a produção de petróleo de 234.700 barris por dia. A receita total do petróleo de petróleo para 2022 foi de US $ 6,3 bilhões. O preço médio realizado no petróleo foi de US $ 88,47 por barril em 2022.

Ano	Produção de petróleo bruto (barris/dia)	Receita total ($)
2022	234,700	6,300,000,000

Receitas de produção de gás natural

A produção de gás natural para o terceiro trimestre de 2023 foi de 753 milhões de pés cúbicos por dia. A receita total do gás natural em 2022 atingiu US $ 1,2 bilhão. O preço médio percebido no gás natural foi de US $ 6,85 por MMBTU.

Ano	Produção de gás natural (MCF/dia)	Receita total ($)
2022	753,000,000	1,200,000,000

Taxas de infraestrutura média

As taxas de infraestrutura do meio do meio geraram US $ 287 milhões em receita para 2022. Essas taxas incluem serviços de coleta, processamento e transporte.

Leasing de Direitos Minerais

A receita de leasing de direitos minerais para 2022 foi de US $ 412 milhões. Diamondback possui aproximadamente 458.000 acres minerais líquidos na bacia do Permiano.

Negociação de derivadas de energia

A receita de negociação derivada de energia para 2022 foi de US $ 156 milhões. Os contratos de hedge cobriram aproximadamente 65% da produção total.

Fluxo de receita	2022 Receita ($)	Porcentagem da receita total
Vendas de petróleo bruto	6,300,000,000	78%
Produção de gás natural	1,200,000,000	15%
Taxas de infraestrutura média	287,000,000	3.5%
Leasing de Direitos Minerais	412,000,000	5%
Negociação de derivadas de energia	156,000,000	2%

• Receita total para 2022: US $ 8,155 bilhões
• Região Operacional Primária: Bacia Permiana
• Negociado publicamente na NASDAQ sob o 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.