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OrganisationsDiamondback Energy
Diamondback Energy logo

Diamondback Energy

Gas/Diesel OilUnited StatesNASDAQ: FANG
Last verified 9 months agodiamondbackenergy.com

Diamondback Energy, Inc. is a prominent player in the US oil and gas sector, specialising in the exploration and production of gas and diesel oil. Headquartered in the United States, the company operates primarily across key regions known for their rich hydrocarbon reserves, including the Permian Basin. Founded in 2007, Diamondback has established itself through strategic acquisitions and operational excellence, becoming a significant force within the industry.

The company’s core offerings include the development of unconventional oil and gas assets, leveraging advanced drilling techniques and innovative extraction methods. Diamondback’s focus on efficiency and sustainable practices has helped it secure a strong market position, recognised for its operational performance and commitment to responsible resource management. As a leading name in the US energy landscape, Diamondback Energy continues to drive growth within the gas and diesel oil industry.

37
DitchCarbon score

+17 vs industry average

Diamondback Energy’s score of 37 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.

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Industry Intensity

High

Gas/Diesel Oil has above-average carbon intensity

Industry performance

0.698
20182025

The Gas/Diesel Oil industry has reduced its overall emissions by 23% since 2018

Emissions trajectory 2020 – 2026

00.0B00.0B00.0B00.0B0

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2020202120222023202420252026

Reported emissions

Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e

Scope 3 accounts for ••• of total emissions.

Diamondback Energy's reported carbon emissions

Diamondback Energy, a US-based company in the Gas/Diesel Oil industry, has reported the following carbon emissions data:

For 2023, Diamondback Energy reported a total of approximately 55.2 billion kg CO2e. This includes Scope 1 emissions of about 1.76 billion kg CO2e, Scope 2 emissions of approximately 954 million kg CO2e, and Scope 3 emissions of about 52.5 billion kg CO2e. The majority of Scope 3 emissions are attributed to the use of sold products.

In 2022, the company's total emissions were approximately 47.2 billion kg CO2e, comprising about 1.49 billion kg CO2e for Scope 1, roughly 674 million kg CO2e for Scope 2, and approximately 45.1 billion kg CO2e for Scope 3 (use of sold products).

Diamondback Energy has set several climate commitments:

  • A near-term target to reduce Scope 1 GHG intensity by at least 50% from 2019 levels by 2024.
  • A near-term target to reduce Scope 1+2 GHG intensity by at least 50% from 2020 levels by 2030.
  • Science-Based Targets initiative (SBTi) commitment to reduce absolute Scope 1 and 2 GHG emissions by 46% by 2030 from a 2019 base year.
  • SBTi commitment to reduce absolute Scope 3 GHG emissions from purchased goods and services and the use of sold products by 46% by 2030 from a 2019 base year.

The company's emissions data is not cascaded from a parent organisation.

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Diamondback Energy’s Climate Goals (2030 & 2050)

2 goals

2024

50% reduction in Scope 1

Reduce Scope 1 GHG intensity by at least 50% from 2019 levels by 2024.

Insufficient data50%

2030

62% reduction in total GHG

Vs 2019 baseline. Validated by SBTi. Includes full supply chain.

At risk48%

2040

50% reduction in Scope 3 intensity

Across purchased goods and services and logistics.

Behind target22%

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Scope 3 top emissions categories

1 of 15 categories disclosed
Use of Sold Products100%
Use of Sold Products100%

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Climate initiatives

SCIENCE BASED TARGETS

Science Based Targets Initiative

2030 targetSee details
Active
CDP

Carbon Disclosure Project

Sign in to view
Active
THE CLIMATE PLEDGE

The Climate Pledge

See details
Not active
United Nations Global Compact

UN Global Compact Climate Champions initiative

See details
Active
RE 100

RE 100

See details
Not active
Climate Action 100+

Climate Action 100

See details
Not active

Emissions comparison with industry peers

View similar organisations
CompanyCountryIndustryLast updatedScoreDetails
Diamondback Energy logoDiamondback Energy
USGas/Diesel Oil
9 months ago
37
Conocophillips logoConocophillips
USGas/Diesel Oil
48 minutes ago
39
View
Chevron logoChevron
USCrude Oil Extraction
5 days ago
34
View
Exxonmobil logoExxonmobil
USCrude Oil Extraction
2 days ago
29
View
Apa logoApa
USBusiness Services
1 month ago
28
View
Oxy logoOxy
USChemicals
5 days ago
28
View
Pioneer Natural Resources logoPioneer Natural Resources
USGas/Diesel Oil
6 days ago
27
View

Frequently asked questions

Common questions about Diamondback Energy’s sustainability data and climate commitments

In 2023, Diamondback Energy reported a total approximate carbon footprint of around 55.2 billion kg CO₂e. The majority of these emissions, roughly 95%, came from Scope 3 (use of sold products), which is typical for oil and gas companies due to product lifecycle impacts. Scope 1 emissions were about 1.76 billion kg CO₂e, and Scope 2 emissions were close to 954 million kg CO₂e. This data highlights the company's significant environmental impact within the US oil and gas industry and its focus on emissions reporting across all scopes.

Data year: 2023

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Ditchcarbonv260716.2
[email protected]+44 203 475 7875

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