Stock Analysis on Net
Stock Analysis on Net

Diamondback Energy Inc. (NASDAQ:FANG)

This company has been moved to the archive! The financial data has not been updated since November 8, 2022.

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Diamondback Energy Inc., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Oil and natural gas properties, full cost method of accounting 32,914 27,377 25,782 22,299 9,233
Midstream assets 1,076 1,013 931 700 192
Other property, equipment and land 174 138 125 147 81
Property and equipment, gross 34,164 28,528 26,838 23,146 9,505
Accumulated depletion, depreciation, amortization and impairment (13,545) (12,314) (5,003) (2,774) (2,161)
Property and equipment, net 20,619 16,214 21,835 20,372 7,344

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Item Description The company
Property and equipment, gross Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Diamondback Energy Inc. property and equipment, gross increased from 2019 to 2020 and from 2020 to 2021.
Property and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Diamondback Energy Inc. property and equipment, net decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.

Asset Age Ratios (Summary)

Diamondback Energy Inc., asset age ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Average age ratio 39.65% 43.16% 18.64% 11.99% 22.74%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Diamondback Energy Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Average Age

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Accumulated depletion, depreciation, amortization and impairment 13,545 12,314 5,003 2,774 2,161
Property and equipment, gross 34,164 28,528 26,838 23,146 9,505
Asset Age Ratio
Average age1 39.65% 43.16% 18.64% 11.99% 22.74%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Average age = 100 × Accumulated depletion, depreciation, amortization and impairment ÷ Property and equipment, gross
= 100 × 13,545 ÷ 34,164 = 39.65%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Diamondback Energy Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.