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 32 is higher than 95% 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 carbon emissions of approximately 2,515,930,000 kg CO2e, comprising 1,560,930,000 kg CO2e from Scope 1 emissions and 953,809,000 kg CO2e from Scope 2 emissions. Notably, the company has not disclosed any Scope 3 emissions for this year. Diamondback Energy 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. This target aligns with the Science Based Targets initiative (SBTi) and reflects the company's commitment to addressing climate change effectively. Additionally, the company plans to achieve a similar 46% reduction in Scope 3 emissions related to purchased goods and services and the use of sold products within the same timeframe. Over the years, Diamondback has demonstrated a commitment to reducing its carbon footprint, with emissions from Scope 1 increasing from 174,413,000 kg CO2e in 2016 to 1,560,930,000 kg CO2e in 2023. The company is actively working towards its reduction targets, which are consistent with the global goal of limiting temperature rise to 1.5°C.
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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.
