2022 CSR
2022 Corporate Sustainability Report

2022 CDP Water Security Response

2022 CDP Climate Change Response

Diamondback Energy is committed to the safe and responsible development of its resources in the Permian Basin. We operate in the same areas in which our employees and their families live, and are dedicated to preserving and protecting the environment for the benefit of our stockholders, employees and our communities.

Our oil and natural gas exploration, development and production operations are subject to stringent environmental laws and regulations, including those relating to waste handling, remediation of hazardous substances, water discharge and air emissions, and our employees undertake significant training and education each year with regard to regulatory compliance, industry standards and innovative opportunities to effectively manage the challenges of developing our resources. We believe that a greater understanding of these challenges, coupled with an undeniable commitment to our core values, will enable Diamondback Energy to be the standard bearer on safety and environmental stewardship in the Permian Basin.

Diamondback has consistently demonstrated its commitment to being "best in class" in all aspects of its operations, including the responsible development of its natural resources. The Company's efforts in this respect include:

  • Leadership in the Permian Basin in the use of horizontal drilling and multi-well pads, which minimizes surface use, produces lower drilling waste volumes and reduced air emissions compared to conventional drilling and single-well pads;
  • Development of a Health, Safety and Environment organization that utilizes robust tracking methods and works closely with regulatory organizations to prevent incidents, implement controls and countermeasures, and comply with all federal, state and local regulations, including but not limited to the Clean Air Act and Clean Water Act;
  • Modified completion designs to reduce proppant and fluid volumes, which minimizes the environmental impact with respect to the use of freshwater and sand;
  • Targeted drilling across our highly contiguous asset base, which allows us to maximize the productive capacity of the resource with a fewer number of wells and a reduced surface presence; and
  • Significant investment in additional freshwater, produced water disposal and hydrocarbon gathering infrastructure, which minimizes the amount of production trucked from the well location and provide the safest method of transportation for our oil and natural gas volumes.

Diamondback's focus continues to be on building an organization that employs the latest technology to minimize our environmental impact and improve safety for all stakeholders. We work daily with local, state and federal agencies to provide transparent disclosure of our business practices. We also regularly evaluate and implement innovative methods for drilling and completing wells, which has allowed us to achieve the same or improved results with less proppant, fewer wells and a greatly reduced environmental footprint. Our employees are challenged each day with identifying new ways to further improve the sustainability and safety of our operations.

As our organization continues to grow, our commitment to safe and responsible development will remain an integral part of Diamondback Energy's focus in the future.