11:59 AM EDT, 08/05/2025 (MT Newswires) -- Diamondback Energy ( FANG ) said Tuesday it sees itself as the "consolidator of choice" in the Permian Basin as it continues to focus on capital discipline and operational efficiency.

"We should naturally be the consolidator of choice as we execute at a lower cost and better overall development strategy," CEO Kaes Van't Hof said during the company's Q2 earnings call.

He added that more consolidation is likely in the Permian but said Diamondback will be more selective than in the past, given the limited number of opportunities that meet its capital return criteria.

Diamondback reported its Q2 results on Monday and revised its 2025 production guidance.

Shares of the company were down nearly 4% in recent Tuesday trading.

Price: 142.42, Change: -5.36, Percent Change: -3.63