Diamondback Energy, Inc. operates as an independent enterprise focused on oil and natural gas. Its core business involves the acquisition, development, exploration, and production of unconventional and onshore hydrocarbon reserves, predominantly located within the Permian Basin across West Texas and New Mexico. The company's development efforts primarily target significant geological formations, including the Spraberry and Wolfcamp in the Midland Basin, as well as the Wolfcamp and Bone Spring within the Delaware Basin – both crucial components of the broader Permian. As of December 31, 2021, Diamondback Energy's asset base included approximately 524,700 gross acres under its control in the Permian Basin. At that time, its estimated proved oil and natural gas reserves amounted to 1,788,991 thousand barrels of crude oil equivalent. The company also maintained working interests in 5,289 gross producing wells and held royalty interests in an additional 6,455 wells. Beyond its direct well operations, Diamondback Energy possesses mineral interests spanning roughly 930,871 gross acres and 27,027 net royalty acres across the Permian Basin and the Eagle Ford Shale. Furthermore, it manages a portfolio of midstream infrastructure, owning, operating, developing, and acquiring assets such as 866 miles of crude oil gathering pipelines, natural gas gathering pipelines, and an integrated water system within the Midland and Delaware Basins of the Permian. Established in 2007, Diamondback Energy, Inc. is headquartered in Midland, Texas.

Van't Hof Matthew Kaes

Meloy Charles Alvin

Plaumann Mark Lawrence

SGF FANG Holdings, LP

Magnolia Oil & Gas Corp (MGY) has gained 9.9% since its Q2 2026 earnings report, beating consensus estimates on EPS (99 cents vs. 90 cents expected) and revenues ($479M vs. $440M expected). The outperformance was driven by higher oil and NGL prices, increased production volumes, and a 9% dividend increase. The company raised its full-year production growth guidance to 6% from 5%. Despite upward estimate revisions, MGY holds a Zacks Rank #3 (Hold) rating with an overall VGM Score of A.

Why Is Magnolia Oil & Gas Corp (MGY) Up 9.9% Since Last Earnings Report?

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Diamondback Energy Inc (FANG) Stock Price, Analysis & Trade Signals