Diamondback Energy
Diamondback Energy is an independent oil and natural gas producer based in Midland, Texas, concentrating its operations in the Permian Basin, one of the most prolific oil-producing regions in the United States. The company focuses on acquiring, developing, exploring, and exploiting unconventional onshore oil and natural gas reserves, particularly in formations such as Spraberry, Wolfcamp, and Bone Spring. As of 2023, Diamondback reported net proven reserves of approximately 2.2 billion barrels of oil equivalent and an average production of around 448,000 barrels per day, comprising 59% oil, 21% natural gas liquids, and 20% natural gas. The company has significant acreage holdings in the Permian Basin, including working interests in numerous producing wells and extensive midstream infrastructure, such as thousands of miles of gathering pipelines. Established in 2007, Diamondback Energy has established itself as a key player in the energy sector, focusing on long-term growth in oil and gas production.
Top Stages
Past deals in Natural Gas
FireBird Energy II
Acquisition in 2022
FireBird Energy LLC, founded in 2018 and headquartered in Sugar Land, Texas, focuses on the development and operation of crude oil and natural gas assets in the Western Midland Basin. This upstream oil and gas company is dedicated to the responsible acquisition and development of its assets, emphasizing sustainable practices. Additionally, FireBird Energy is involved in midstream operations, which include the gathering, processing, and treatment of natural gas and crude oil. The company manages essential infrastructure such as gas processing plants, water gathering pipelines, and saltwater disposal wells, ensuring efficient service for producers while advancing opportunities for strategic asset repurposing and development in a socially responsible manner.
QEP Resources
Acquisition in 2020
QEP Resources is an independent exploration and production company focused on natural gas and crude oil, primarily operating in two key regions of the United States: the Northern Region, which includes the Rockies and the Williston Basin, and the Southern Region, encompassing Oklahoma, the Texas Panhandle, and Louisiana. The company not only engages in the exploration and production of hydrocarbons but also gathers, compresses, treats, and processes natural gas. With a portfolio characterized by low-cost, high-quality resource plays, QEP Resources reported 658.2 million barrels of oil equivalent in proved reserves as of year-end 2018, with total production for that year reaching approximately 51.9 million barrels of oil equivalent, of which about 52% was crude oil. Headquartered in Denver, Colorado, QEP Resources serves various clients, including gas-marketing firms, crude-oil refiners, and midstream service providers, facilitating the supply of energy to consumers.
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