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OrganisationsDiamondback Energy
Diamondback Energy logo

Diamondback Energy

Gas/Diesel OilUnited StatesNASDAQ: FANG
Last verified 8 months agodiamondbackenergy.com

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.

36
DitchCarbon score

+17 vs industry average

Diamondback Energy’s score of 36 is higher than 68% 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

0.245
20192025

The Gas/Diesel Oil industry has reduced its overall emissions by 41% since 2019

Emissions trajectory 2020 – 2026

00.0B00.0B00.0B00B0

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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

In 2023, Diamondback Energy reported total carbon emissions of approximately 61.3 billion kg CO2e, comprising 1,757,044,000 kg CO2e from Scope 1, 953,809,000 kg CO2e from Scope 2, and 52,453,762,000 kg CO2e from Scope 3 emissions. 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 46% reduction in Scope 3 emissions related to purchased goods and services and the use of sold products within the same timeframe. Diamondback Energy is also focused on reducing its Scope 1 GHG intensity by at least 50% from 2019 levels by 2024. These targets align with industry standards and reflect the company's commitment to addressing climate change. The emissions data and reduction targets are sourced directly from Diamondback Energy, Inc., ensuring accuracy and relevance in their climate strategy.

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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
8 months ago
36
Eqt logoEqt
GBGas/Diesel Oil
7 days ago
74
View
Hess logoHess
USGas/Diesel Oil
5 minutes ago
33
View
Range Resources logoRange Resources
USNatural Gas Liquids
8 days ago
28
View
Eog Resources logoEog Resources
USElectricity Transmission
7 days ago
21
View
Coterra Energy logoCoterra Energy
USGas/Diesel Oil
5 days ago
19
View
Permian Resources logoPermian Resources
USGas/Diesel Oil
4 days ago
19
View

Frequently asked questions

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

In 2023, Diamondback Energy reported total carbon emissions of approximately 61.3 billion kg CO₂e. This figure includes around 1.8 billion kg CO₂e from Scope 1 emissions, roughly 1 billion kg CO₂e from Scope 2, and about 52.5 billion kg CO₂e from Scope 3 emissions. The substantial majority of emissions stem from Scope 3, highlighting the significant impact of the company's supply chain and product use on its overall carbon footprint.

Data year: 2023

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Ditchcarbonv260319.2
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