With a market cap of $54.6 billion, Diamondback Energy, Inc. (FANG) is an independent oil and natural gas company focused on the acquisition, development, exploration, and production of unconventional onshore energy reserves. The company operates primarily in the Permian Basin of West Texas and New Mexico, one of the most prolific oil-producing regions in the United States.
Companies worth more than $10 billion are generally labeled as “large-cap” stocks and Diamondback Energy fits this criterion perfectly. Its core assets include the Spraberry and Wolfcamp formations in the Midland Basin, as well as the Wolfcamp and Bone Spring formations in the Delaware Basin.
