Core Viewpoint - Diamondback Energy is a prominent onshore oil extraction and production company located in the Permian Basin of West Texas, primarily owning acreage in the Delaware, Midland, and Central Basins [1] Company Overview - Diamondback Energy operates mainly in the oil extraction and production sector, focusing on the Permian Basin, which is a significant area for oil production in the United States [1] Investment Focus - The company is characterized by its sustained free cash flows, low levels of leverage, and sustainable debt, making it an attractive option for investors seeking value in the oil and gas sector [2] - The focus on companies with high recovery potential during distress stages indicates a strategic approach to identifying investment opportunities [2] - The emphasis on pro-shareholder attitudes, including solid buyback programs and dividend distributions, highlights the company's commitment to returning value to shareholders [2]