FANG
Diamondback Energy Inc.
Is FANG Halal?
Permian Basin oil — financial ratios pass, but extraction activity remains a qualitative concern.
What You Should Know
Diamondback's March 31, 2026 filing reports debt/assets of 19.83%, liquidity/assets of 0.25% and receivables plus cash/assets of 3.33%; gross interest income is not separately disclosed. Permian oil and gas production, Viper/midstream structures, environmental impacts and conventional financing require qualitative review.
⚠️ Concerns
- •Oil and gas extraction and hydraulic-fracturing impacts
- •Very low unrestricted liquidity
- •Gross interest income and a universal prohibited-revenue numerator are unavailable
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
13,898 / 70,080
174 / 70,080
2,335 / 70,080
- Financial
- Incomplete
- Overall
- Incomplete
Debt is 19.83% of total assets, liquidity is 0.25% and receivables plus cash are 3.33%; gross interest income is unavailable, so the full activity and income assessment remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash are below the examined total-assets limits. This is a calculation against the named method, not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash are below the examined Malaysia SAC financial limits; this is not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed historical market-cap series is not stored and business classification remains incomplete, so market-cap methods are not estimated from a current spot price.
Business-activity disclosure
Diamondback produces oil and natural gas in the Permian Basin and has midstream and Viper interests. Energy production can be permissible, while hydrocarbon end uses, commodity derivatives, environmental impacts and conventional financing require qualitative review.
Limitation: The filing does not quantify a scholar-specific prohibited-revenue numerator or gross interest-income numerator; this is not an official Sharia classification.
Purification
Gross interest income is not separately disclosed and no scholar-approved purification percentage is prescribed; no fixed amount is estimated.
Inputs, assumptions and primary sources
- Amounts are USD millions from Diamondback Energy's March 31, 2026 Form 10-Q.
- Interest-bearing debt is $13,898 million total debt, including $749 million of current maturities; operating leases are excluded.
- Cash and cash equivalents are $174 million; restricted cash and no separately identified unrestricted interest-bearing securities are excluded.
- Accounts receivable combines $327 million of joint-interest and other receivables with $1,834 million of oil and natural-gas sales receivables; first-quarter revenue is $4,240 million.
- The consolidated filing does not separately disclose gross interest income or a universal prohibited-revenue numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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