Public Profile

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.

29

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.

14

Industry Benchmark

Diamondback Energy's score of 29 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.

65%

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Diamondback Energy's reported carbon emissions

In 2023, Diamondback Energy reported significant carbon emissions, totalling approximately 17,570,440,000 kg CO2e. This includes Scope 1 emissions of about 1,757,044,000 kg CO2e, primarily from direct operations, and Scope 2 emissions of approximately 953,809,000 kg CO2e, related to energy consumption. Notably, their Scope 3 emissions, which encompass the use of sold products, reached a staggering 52,453,762,000 kg CO2e. Diamondback Energy has set ambitious climate commitments, aiming to reduce absolute Scope 1 and 2 greenhouse gas emissions by 46% by 2030, using 2019 as the baseline year. Additionally, they plan to achieve a 46% reduction in Scope 3 emissions from purchased goods and services and the use of sold products within the same timeframe. Furthermore, the company is targeting a 50% reduction in Scope 1 GHG intensity from 2019 levels by 2024. These initiatives reflect Diamondback Energy's commitment to addressing climate change and reducing its carbon footprint in alignment with industry standards.

Unlock detailed emissions data

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20162017201820192020202120222023
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
Scope 3
-
-
-
-
-
-
00,000,000,000
00,000,000,000

Industry emissions intensity

Very low
Low
Medium
High
Very high
Some industries are more carbon intensive than others. Diamondback Energy's primary industry is Gas/Diesel Oil, which is very high in terms of carbon intensity compared to other industries.

Location emissions intensity

Very low
Low
Medium
High
Very high
The carbon intensity of the energy grid powering a company's primary operations has a strong influence on its overall carbon footprint. This request for Diamondback Energy is in US, which has a low grid carbon intensity relative to other regions.

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.

Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact
RE 100
Climate Action 100
Race To Net Zero
Reduction Actions

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DitchCarbon Score

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