Diamondback Energy, Inc. focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the United States. It has interests in approximately 51,709 net acres of land in West Texas in the Permian Basin. As of August 31, 2012, the company held interests in 205 gross producing wells in the Permian Basin. It also has a proved oil and natural gas reserves of 39,460 thousand barrels of crude oil equivalent. Diamondback Energy, Inc. was incorporated in 2011 and is headquartered in Midland, Texas.