diamondback energy
Corporate Responsibility Report
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At Diamondback, we are committed to operating with integrity and transparency while striving for best-in-class corporate governance and business ethics.

OVERALL GOVERNANCE

The Chairman and CEO positions at Diamondback are held by separate individuals, with the Chairman serving as an Independent Director. In addition, our Board of Directors comprises a supermajority of independent members who possess diverse experience as well as a variety of skills, qualifications and viewpoints.

We increased the size of our Board from five members to seven in 2018 and advanced our board diversity. Our newest members are:

  • Melanie M. Trent, who brings nearly 15 years of legal and executive management experience as well as strong energy industry knowledge
  • Michael L. Hollis, our President and Chief Operating Officer, whose experience in the oil and gas industry spans nearly two decades

Recently, our Board also adopted Corporate Governance Guidelines as a way to reinforce its commitment to sound governance practices and policies. We believe our Board structure provides broad, unique perspectives on key decisions while ensuring an optimal level of integrity and transparency.

CORPORATE RESPONSIBILITY OVERSIGHT

Our 16-member executive team oversees all corporate responsibility strategies and activities at Diamondback. Every committee of the Board is composed solely of independent directors, helping to ensure thorough oversight and review of material business issues such as corporate responsibility and sustainability. Each committee has a written charter that complies with all applicable legal requirements and sets forth the committee’s principal responsibilities. We engage our top 20 stockholders at least annually for their insight and suggestions regarding our corporate governance standards and sustainability efforts, which helps inform our decisions.

BUSINESS ETHICS

Our compliance program consists of standards of conduct and internal controls reasonably capable of detecting and reducing the likelihood of criminal and other improper conduct, including these six principal components:

  • Organizational leadership
  • Standards and procedures
  • Efforts to exclude bad actors from positions of authority
  • Training and education
  • Monitoring, auditing, and evaluation of program effectiveness
  • Appropriate disciplinary and remedial actions

CODE OF CONDUCT

Our Code of Business Conduct and Ethics forms the foundation of this program and our commitment as a company. It lays out clear standards for dealing with issues such as personal conflicts of interest, confidentiality, equal employment opportunity, and harassment. In addition to the general code of conduct, specific supplemental policies address individual issues not relevant to the entire company, such as the supplemental policy for officers, directors, and other designated individuals.

COMPLIANCE

The Board of Directors exercises overall compliance program oversight, while the Chief Financial Officer and General Counsel assume day-to-day responsibility. The CEO’s role is to foster a culture of transparency, integrity, and compliance with all applicable laws.