Diamondback Energy Inc (FANG) Expands Production in Midland and Delaware Basins

Diamondback Energy Inc (NASDAQ:FANG) is among the must-buy non-tech stocks to invest in now. On March 27, UBS identified Diamondback Energy Inc (NASDAQ:FANG) as one of the oil and gas companies best-positioned to generate shareholder value even when commodity prices are flat.

Diamondback Energy Inc (FANG) Expands Production in Midland and Delaware Basins

According to the investment bank, Diamondback’s strong financial position and unique assets allow it to continue to generate value for shareholders regardless of the prevailing price environment.

On March 23, Truist Securities initiated coverage on Diamondback Energy Inc (NASDAQ:FANG) stock with a Buy rating and a price target of $222. Truist pointed to factors such as Diamondback’s resource depth, asset base, and breakeven costs for its bullish stance on the stock. According to the equity research firm, Diamondback has peer-leading characteristics in its sector.

Additionally, Truist noted that Diamondback is the last pure-play large-cap shale producer in the Permian Basin. The firm also pointed out that Diamondback has core assets in the Midland Basin and keeps a secondary position in the Delaware Basin.

In 2025, Diamondback’s average production was 497.2 million barrels per day. The company projects its 2026 production to be in the range of 500,000 – 510,000 barrels per day. Capex in 2025 was $3.5 billion, and it’s expected to be in the band of $3.6 billion to $3.9 billion in 2026. The company expects to spend anywhere between $100 million and $150 million of capital on explorations and tests to boost oil recoveries from its existing asset base in Barnett and Woodford shales.

Diamondback Energy Inc (NASDAQ:FANG) is an American oil and natural gas company. It acquires, develops, explores, and exploits what it describes as unconventional onshore oil and natural gas reserves. Its operations are primarily focused on the Permian Basin in West Texas. Diamondback Energy was founded in 2007 and is based in Midland, Texas.

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