Diamondback Energy is a Texas-based independent oil and natural gas company focusing on the acquisition, development, exploration, and exploitation of oil and gas reserves in the Permian Basin. The company owns total acreage position of approximately 524,700 gross acres in the Permian Basin and estimated proved oil and natural gas reserves of 1,788,991 thousand barrels of crude oil equivalent. Diamondback Energy also owns and operates midstream infrastructure assets, including crude oil gathering pipelines, natural gas gathering pipelines, and an integrated water system in the Midland and Delaware Basins of the Permian Basin.