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VNOM - Diamondback Energy: The Worst Is Yet To Come
Viper Energy Partners LP
Courtesy: Diamondback CNBC
Investment Thesis
The Midland, TX-based Diamondback Energy (FANG) is a large-cap Permian pure-play E&P. The company is a perfect example of what Saudi Arabia and Russia are targeting right now.
Since Saudi Arabia could not come to an agreement with Russia on cutting further oil production to match a sluggish demand, Saudi Arabia reversed its strategy.
The Kingdom now announced that it would be flooding the market with discounted oil to regain a large part of the market that it has lost.