With a market cap of $44.3 billion, Diamondback Energy, Inc. (FANG) is an independent oil and natural gas exploration and production company focused on the prolific Permian Basin in West Texas and southeastern New Mexico. It specializes in developing the Spraberry and Wolfcamp formations in the Midland Basin and the Wolfcamp and Bone Spring formations in the Delaware Basin.
Companies valued at $10 billion or more are generally considered “large-cap” stocks, and Diamondback Energy fits this criterion perfectly. Headquartered in Midland, Texas, Diamondback drives growth through strategic acquisitions and active drilling in one of the most productive shale regions in the United States.
