Diamondback Energy Archives

Infrastructure company WhiteWater and its joint venture partners Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (FID) to build two natural gas pipelines from the Permian Basin to Katy, Texas. The Permian Basin, the largest oil-producing region in the U.S., has seen steady growth in associated natural gas production in recent years, spurring investment in new pipeline infrastructure to move gas to key demand centers along the U.S. Gulf Coast. * The companies said the joint venture, known as the Solitude Pipeline System, is backed by substantial long-term firm transportation agreements with investment-grade shippers. * The pipeline system will be developed in phases, with initial capacity of about 2.25 billion cubic feet per day (Bcf/d) expected in late 2029, the companies said. * A second phase is due in 2030 and would add another 2.25 Bcf/d of capacity, bringing total capacity to about 4.5 Bcf/d, they added. * The companies said the system’s design would allow further capacity expansions to accommodate additional shipper demand. * WhiteWater owns 50% of the joint venture, while Devon Energy holds 25%, MPLX holds 10%, and Diamondback Energy and Western Midstream Partners each hold 7.5%. * Solitude is expected to enter service in the second half of 2029, subject to customary regulatory and other approvals. (Reporting by Varun Sahay in Bengaluru; Editing by Tasim Zahid)- oil and gas 360

WhiteWater-led venture approves Permian-to-Texas gas pipeline project

August 17, 2026

(BOE Report) – Infrastructure company WhiteWater and its joint venture partners Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (FID) to build two natural gas pipelines from the Permian Basin to Katy, Texas. The Permian Basin, the largest oil-producing region in the U.S., has seen steady growth in associated

Shale giant Diamondback says global oil glut fears are fading

February 24, 2026

(World Oil) – Fears of a global oil glut that had been expected to crater crude prices are fading amid resilient energy demand, according to Permian basin driller Diamondback Energy Inc. As recently as mid-December, the prevailing outlook among respected oil watchers was that a huge surfeit was in the making that would send crude prices tumbling. Everyone from the International Energy Agency to prominent

U.S. shale operators defy $60 oil to sustain production growth

November 7, 2025

(World Oil) – U.S. shale companies are forging ahead with their production plans, adapting to $60 oil prices while grinding out small increases and setting up the industry to add to next year’s record supply glut. Diamondback Energy Inc., Coterra Energy Inc. and Ovintiv Inc. this week announced plans to raise output slightly for this year or 2026 despite oil

Diamondback says it should be Permian’s ‘consolidator of choice’ as oil outlook dims

August 5, 2025

(BOE Report) – Shale driller Diamondback Energy said on Tuesday it should remain the Permian Basin’s “consolidator of choice” as shale activity slows and the company focuses on shareholder returns following its $26 billion merger with Endeavor Energy. “We should naturally be the consolidator of choice as we execute a lower-cost and better overall development strategy,” a key company executive

Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., to Acquire Sitio Royalties Corp. in All-Equity Transaction; Increases Base Dividend

June 3, 2025

(Oil & Gas 360) – MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), and Sitio Royalties Corp. (NYSE:STR) (“Sitio”) today announced that they have entered into a definitive agreement under which Viper will acquire Sitio in an all-equity transaction valued at approximately $4.1 billion, including

Diamondback exec calls out Trump as tariff concerns mount for U.S. shale industry

April 8, 2025

(World Oil) – A top executive at Diamondback Energy Inc. called on President Donald Trump’s administration to explain how the global trade war will help shale producers, a rare instance of public pushback from a U.S. oil boss. “This administration better have a plan @SecretaryWright,” Kaes Van’t Hof, president of Diamondback, said April 6 in a post on X. He added

Diamondback pursues JV for gas-fueled plants to power Permian data centers

February 26, 2025

(World Oil) – (Bloomberg) – Diamondback Energy Inc. is in talks to form a power joint venture that would solve some of the shale giant’s own needs in the Permian Basin while also selling electricity to artificial intelligence data centers in West Texas. Diamondback says it’s looking for an equity stake in a gas-fired power plant that would be built on

Diamondback Energy, Inc. announces fourth quarter and full year 2024 financial and operating results; increases base dividend

February 25, 2025

(Oil & Gas 360) – MIDLAND, Texas, Feb. 24, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2024. FOURTH QUARTER 2024 HIGHLIGHTS Average production of 475.9 MBO/d (883.4 MBOE/d) Net cash provided by operating activities of $2.3 billion; Operating Cash Flow

Diamondback Energy, Inc. announces midland basin acquisition

February 18, 2025

(Oil & Gas 360) – MIDLAND, Texas, Feb. 18, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has entered into a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco, LLC (“Double Eagle”) in exchange for approximately 6.9 million shares of Diamondback common stock and $3 billion of cash, subject to customary adjustments (the “Double Eagle Acquisition”).

Diamondback’s Viper Energy finalizes $459 million acquisition of Tumbleweed royalty assets

October 4, 2024

(World Oil) – Viper Energy Partners has agreed to acquire mineral and royalty interests in the Permian Basin from affiliates of Warwick Capital Partners and GRP Energy Capital for $1 billion in cash and stock. The deal, which is expected to close in the fourth quarter of 2023, will increase Viper’s exposure to one of the most productive oil regions in

$Diamondback Energy eyes natural gas to electrify Permian fracing operations- oil and gas 360$

Diamondback Energy eyes natural gas to electrify Permian fracing operations

September 18, 2024

World Oil (Bloomberg) – Diamondback Energy Inc., one of the Permian basin’s biggest oil companies, is considering using some of the natural gas it produces to generate electricity to run drilling and fracing operations. Permian producers have increasingly shifted operations from diesel generators to electricity supplied by the local power grid. But the Texas grid can be unreliable at times,

Another world first in the Permian, natural gas to gasoline

July 26, 2024

Oil and Gas 360 Finding another way to avoid the waste and lost revenue from stranded gas in a pipeline-constrained portion of the Permian Basin could have global applications, according to two business partners in Texas interviewed in the June-July Oil and Gas Journal. Boosted by a $20 million investment by Midland-based partner and producer Diamondback Energy, Houston-based Verde Clean

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