Diamondback Energy appointed Darin G. Holderness to its Board of Directors, enhancing leadership with his extensive energy sector experience.
Quiver AI Summary
Diamondback Energy, Inc. has announced the appointment of Darin G. Holderness to its Board of Directors, effective February 3, 2025. With over 30 years of experience in the energy sector, Holderness has held several significant positions, including founder and CFO of P&A Exchange LLC and CFO of ProPetro Holding Corp. He also has extensive experience with Concho Resources and KPMG LLP, focusing on the energy industry. Holderness, a Certified Public Accountant and Boise State University graduate, has additional board experience with companies like JMR Services LLC and Ranger Oil Corporation. CEO Travis Stice expressed confidence in Holderness's ability to enhance the Board, particularly in financial oversight, and noted that he is the fourth member from the Endeavor merger to join. Diamondback Energy is based in Midland, Texas, and specializes in developing oil and natural gas reserves in the Permian Basin.
Potential Positives
- Diamondback Energy has strengthened its Board of Directors with the addition of Darin G. Holderness, who brings over 30 years of significant experience in the energy sector, which can enhance the company's strategic direction and operational expertise.
- Mr. Holderness's knowledge of the Permian Basin and familiarity with Diamondback's operations are likely to provide valuable insights and support as the company continues to focus on its core area of expertise.
- The appointment aligns with Diamondback's ongoing strategy of integrating leadership from its recent Endeavor merger, indicating a commitment to leveraging experienced professionals for future growth.
Potential Negatives
- The addition of a new board member may highlight potential instability or the need for new expertise following the Endeavor merger, which could raise concerns about the existing board's effectiveness.
- The press release does not address how the board's composition aligns with current industry challenges or investor concerns, possibly indicating a lack of strategic direction.
FAQ
Who is Darin G. Holderness?
Darin G. Holderness is the newly appointed member of the Board of Directors for Diamondback Energy, bringing over 30 years of energy sector experience.
What roles has Darin G. Holderness held in the energy sector?
He has served as CFO at ProPetro Holding Corp, Concho Resources, and founded P&A Exchange LLC, among other roles.
When was Darin G. Holderness appointed to the Board?
Darin Holderness was appointed to the Board of Directors of Diamondback Energy effective February 3, 2025.
What qualifications does Darin G. Holderness have?
Darin holds a Bachelor of Business Administration in Accounting from Boise State University and is a Certified Public Accountant.
What is Diamondback Energy's focus?
Diamondback Energy is focused on acquiring, developing, and exploring unconventional oil and natural gas reserves primarily in the Permian Basin.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FANG Congressional Stock Trading
Members of Congress have traded $FANG stock 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
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- REPRESENTATIVE GREG LANDSMAN has traded it 2 times. They made 0 purchases and 2 sales worth up to $65,000 on 10/15, 09/10.
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$FANG Insider Trading Activity
$FANG insiders have traded $FANG stock on the open market 13 times in the past 6 months. Of those trades, 2 have been purchases and 11 have been sales.
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- LYNDAL GRETH has made 0 purchases and 4 sales selling 13,212,830 shares for an estimated $2,313,665,629.
- HOF MATTHEW KAES VAN'T (President & CFO) has made 0 purchases and 3 sales selling 54,000 shares for an estimated $10,561,633.
- TERESA L. DICK (CAO, Exec. VP, Assist. Sec.) sold 5,000 shares for an estimated $1,000,000
- STEVEN E WEST purchased 6,000 shares for an estimated $975,960
- TRAVIS D. STICE (Chief Executive Officer) sold 3,000 shares for an estimated $517,536
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$FANG Hedge Fund Activity
We have seen 598 institutional investors add shares of $FANG stock to their portfolio, and 547 decrease their positions in their most recent quarter.
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- PACER ADVISORS, INC. removed 2,653,864 shares (-98.1%) from their portfolio in Q4 2024, for an estimated $434,782,539
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Full Release
MIDLAND, Texas, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Travis Stice, Chief Executive Officer and Chairman of the Board of Directors (the “Board”) of Diamondback Energy, Inc. (NASDAQ: FANG) ("Diamondback" or the "Company"), is pleased to announce that effective February 3, 2025, the Company added Darin G. Holderness to the Board of Directors.
Mr. Holderness has over 30 years of experience in various roles of increasing responsibility in the energy sector, including, among others, founder and Chief Financial Officer of P&A Exchange LLC, an oilfield services company, Chief Financial Officer of ProPetro Holding Corp., an oilfield services company, Senior Vice President, Chief Financial Officer and Treasurer of Concho Resources, an oil and gas exploration and production company, and over nine years with KPMG LLP, where his practice focused on the energy sector. Mr. Holderness has served on the board of directors of JMR Services LLC, an oilfield services company focused on the plug and abandonment of oil and gas wells, since May 2024. Mr. Holderness also served on the board of directors of Ranger Oil Corporation from September 2016 to October 2021, including as its chairman from February 2018 to January 2021, and served on the board of directors of Rock Solid Lifestyles, Inc. from September 2016 to April 2024. Mr. Holderness graduated from Boise State University with a Bachelor of Business Administration in Accounting in 1986 and is a Certified Public Accountant.
“Diamondback is excited to announce the addition of Darin to the Board of Directors as the fourth Board member from the Endeavor merger completed late last year. Darin knows the Permian Basin and knows the Diamondback story well from his time spent in various roles throughout the Permian. I am confident his skillset, particularly as a member of the audit committee, will complement the Board well,” stated Mr. Stice.
About Diamondback Energy, Inc.
Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com .
Investor Contact:
Adam Lawlis
+1 432.221.7467
[email protected]