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 29 is higher than 64% 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, headquartered in the US, reported significant carbon emissions, with Scope 1 emissions totalling approximately 1,757,044,000 kg CO2e and Scope 2 emissions at about 953,809,000 kg CO2e. The company has set ambitious climate commitments, aiming to reduce absolute Scope 1 and 2 greenhouse gas emissions by 46% by 2030 from a 2019 baseline. Additionally, they plan to achieve a similar 46% reduction in Scope 3 emissions, specifically from purchased goods and services as well as the use of sold products. Diamondback Energy's near-term target includes a specific goal to reduce Scope 1 GHG intensity by at least 50% from 2019 levels by 2024. These targets align with the Science Based Targets initiative (SBTi) and are designed to contribute to global efforts to limit warming to 1.5°C. The company has consistently disclosed its emissions data, demonstrating transparency in its climate strategy. As of 2023, Diamondback Energy has not reported any Scope 3 emissions data, but its commitments reflect a comprehensive approach to addressing its carbon footprint across all relevant scopes.
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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 |
| 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.
