“Diamondback Energy Shines Bright: A Look at the Brightest Energy Stocks!”

Diamondback Energy, Inc. (NASDAQ:FANG) is a Texas-based exploration and production developer dedicated to natural gas, oil, and natural gas liquids. The company has operations throughout the Permian Basin, which consists of several counties throughout the west-central region of the U.S. state of Texas. Founded in 2011, the company has quickly expanded its operations to become the largest independent producer of crude oil and natural gas in the United States.

Now that its 2020 fiscal fourth-quarter financials have been released, Diamondback Energy is in the spotlight. The company reported a net income of $196 million and total companies production of approximately 281,667 barrels of oil equivalent per day. This is a significant increase from the 197,385 barrels of oil equivalent per day reported in the previous quarter. Some analysts are expecting even more growth from this US-based energy giant in the next year.

The company’s midstream operating segment has also seen increases. Its processing and transportation fees have increased by 8 percent, while its crude oil and natural gas liquids fees have grown by 5 percent. Diamondback Energy’s expansion could be giving the energy sector a much-needed surge in production.

Diamondback Energy has some notable advantages over other energy producers in the US. It is largely unhedged and has one of the lowest lease operating and capital expenditure per barrel of oil equivalent amongst publicly traded midstream companies. This allows it to better access capital and invest in developing its midstream and downstream infrastructure to expand its operations.

For investors interested in investing in energy stocks, Diamondback Energy could be a great option. It has a strong track record of success and its operational expenses and capital expenditures are considerably lower when compared to other companies in the sector. Its 2020 Q4 results have once again proven that Diamondback Energy is a reliable energy player with the potential to further increase its production capabilities.