Diamondback Energy Inc.
Diamondback Energy Announces Leadership Transition and Board Changes
Summary
Diamondback Energy, Inc. announced on February 20, 2025, a significant leadership transition. Current CEO Travis D. Stice will step down effective at the 2025 Annual Meeting, transitioning to Executive Chairman. Kaes Van't Hof, the current President, will succeed Stice as CEO and will join the Board. Jere W. Thompson III, previously Executive Vice President of Strategy and Corporate Development, will become the new CFO. Additionally, David L. Houston, a long-standing board member, will retire upon the conclusion of his term. A press release with further details is furnished as Exhibit 99.1.
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Exhibits (2)
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About Diamondback Energy Inc.
Diamondback Energy Inc. is a publicly traded company that engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas. Its primary function is to extract hydrocarbon resources, which includes both crude oil and natural gas, through advanced drilling and recovery techniques. Diamondback Energy leverages its extensive portfolio of assets across the prolific Permian Basin, which is renowned for its rich oil and gas deposits and low-cost production benefits. The company plays a significant role in the energy sector by providing essential natural resources that fuel modern economies. Its strategic focus on high-margin assets and efficient operational practices make it a notable player in the United States energy market. Diamondback's operations impact sectors involved in energy supply, industrial production, and transportation. Headquartered in Midland, Texas, Diamondback Energy is committed to sustainable growth and maximizing shareholder value, ensuring its ongoing contribution to the energy landscape and the broader commodities market.
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