Diamondback Energy Appoints Kaes Van’t Hof as President

Diamondback Energy Inc. appointed Kaes Van’t Hof as president as part of a series of leadership appointments and promotions announced by the Midland, Texas-based independent E&P company on Feb. 22 

“Kaes has provided significant strategic direction and leadership in helping grow our business since joining the company in 2016. He has made material contributions across numerous business development opportunities and follow-on integration efforts, along with capital markets access and development of our financial strategies,” Diamondback CEO Travis Stice commented in a company release.

In addition to Van’t Hof, who will also remain in his current roles as CFO of Diamondback and president of the general partners of Viper Energy Partners LP and Rattler Midstream LP, Diamondback on Feb. 22 appointed Daniel Wesson as COO as well as the addition of four vice presidents to its executive team.

The new additions include Chris Curry as vice president of land, Johnny Dossey as vice president of marketing, Hunter Landers as vice president of completions and Nathan Luoma as vice president of production.

The company also said Steven West will step down as chairman but remain on its board. West has served as a director of Diamondback since December 2011 and as chairman of the board since October 2012.

“It has been an honor and a privilege to serve as the chairman of Diamondback for the last 10 years,” West commented in the release.

Stice will assume the role of chairman of the board of directors of Diamondback and will remain in his current role as CEO.

“The company’s growth has been nothing short of spectacular, and Travis’ leadership has been a major contribution to the company’s success,” West continued. “He will be a great representative of the shareholders as chairman, and I look forward to continuing to serve those same shareholders in my new role.”

The promotions of Van’t Hof and Wesson were effective immediately and unveiled on Feb. 22 alongside higher-than-expected fourth-quarter profit and a 20% boost to its annual dividend. The Permian Basin-focused shale producer plans to keep its oil production flat this year and forecast first-quarter production between 369,000 and 376,000 boe/d. That is up from around 307,400 boe/d during first-quarter 2021.

“All the moves announced today are reflective of the deep bench of talent we have developed internally within the organization,” Stice added. “I cannot be more excited about the outlook for the company, and I remain committed, along with the board of directors, to leading the company well into the future.”

Van’t Hof’s additional responsibilities will include both the operations and human resources organizations reporting to him, along with his existing reporting responsibilities of land, investor relations and accounting.

Meanwhile, Wesson, who currently serves as vice president of operations, will oversee reporting responsibilities will include reservoir engineering, geology, drilling, completions, production, midstream, oil and gas marketing, safety and sustainability, reporting to Van’t Hof.

“Danny has been with our company since 2012, serving in roles of increasing responsibility,” Stice commented. “His leadership has been integral to Diamondback’s best-in-class operating and execution metrics, for which the company is now well known. Danny has also led multiple seamless employee and operations integrations following Diamondback’s numerous acquisitions to date.”

Diamondback’s recent acquisitions include the $2.2 billion all-stock transaction of QEP Resources, which closed in March 2021. The company also purchased Blackstone-sponsored Guidon Energy in the Midland Basin for $862 million last year.