Diamondback Energy
Diamondback Energy, Inc., a prominent player in the US energy sector, is headquartered in Midland, Texas. Founded in 2007, the company has rapidly established itself as a leader in the exploration and production of oil and natural gas, primarily focusing on the Permian Basin, one of the most prolific oil-producing regions in the country. With a commitment to operational excellence, Diamondback Energy offers a unique portfolio of services that includes drilling, completion, and production of hydrocarbons. The company is recognised for its efficient resource management and innovative technologies, which enhance its competitive edge in the market. Notable achievements include significant production growth and strategic acquisitions that have solidified its position among the top independent oil and gas companies in the US.
DitchCarbon Score
How does Diamondback Energy's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Gas/Diesel Oil industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Diamondback Energy's score of 34 is higher than 94% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Diamondback Energy's reported carbon emissions
In 2023, Diamondback Energy reported total Scope 1 emissions of approximately 1,560,930,000 kg CO2e and Scope 2 emissions of about 953,809,000 kg CO2e. The company has set ambitious climate commitments, aiming to reduce its absolute Scope 1 and 2 greenhouse gas emissions by 46% by 2030, using 2019 as the baseline year. Additionally, Diamondback Energy is committed to a similar 46% reduction in Scope 3 emissions, specifically targeting emissions from purchased goods and services as well as the use of sold products. In the near term, Diamondback aims to decrease its Scope 1 GHG intensity by at least 50% from 2019 levels by 2024. This commitment reflects the company's proactive approach to addressing climate change and reducing its carbon footprint in the oil and gas sector. The company has demonstrated a consistent effort to improve its emissions intensity, with reported Scope 1 emissions intensity decreasing from 15,100 kg CO2e per unit of activity in 2019 to 9,400 kg CO2e in 2023. Overall, Diamondback Energy's climate commitments align with industry standards and reflect a growing recognition of the need for sustainable practices in the energy sector.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Scope 1 | 174,413,000 | 000,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 2 | - | - | - | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | 00,000,000,000 | - | - | 00,000,000,000 | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Diamondback Energy is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
