Diamondback Sees Up to 30 More Permian Rigs by Year-End as Oil Surges
Diamondback Energy said drillers could add as many as 30 rigs in the Permian by the end of the year as crude prices rise on the Iran war, implying a more than 10% increase in activity from the 241 rigs operating in the West Texas and New Mexico basin last week. The forecast points to a broader pickup in shale drilling after Diamondback earlier boosted production above 520,000 barrels a day.
Earlier, the shale producer raised its 2026 output outlook to more than 972,000 barrels of oil equivalent a day from a prior range of 926,000 to 962,000 boepd. Diamondback said it would run five completion crews and add two to three rigs through the rest of 2026 while lifting capital spending guidance to about $3.9 billion from $3.75 billion.
From the sources (7 posts)
@staunovoDiamondback Energy Inc., one of the biggest shale oil producers, is boosting crude output in response to rising prices caused by the Iran war. The company that operates in the Permian Basin of West Texas and New Mexico is pumping more than
@staunovoDiamondback boosts annual production outlook as oil prices rally Diamondback plans to run five completion crews and add two to three rigs over the remainder of 2026, a plan Van't Hof said enables it to maintain capital efficiency. For the
@energy_tidbitsDiamondback back to green light with the legitimate supply-demand imbalance and associated oil price signal so cranking up drilling and completions "to maintain our current production levels of over 520,000 b/d". Going ot work down DUCs
@oilandenergyDiamondback is boosting Permian output above 520,000 bpd as oil prices surge, becoming the first major shale player to abandon strict capital discipline since 2022. The move signals a broader shift toward growth across U.S. shale. #Oil #Sha
@oilheadlinenewsDiamondback Energy estimates that rigs in the Permian could jump as much as 10% between now and the end of the year as the Iran war boosts oil prices. - Bloomberg
@ericnuttallWe've seen the first reaction of US shale producers to $100+WTI spot / $75WTI strip. FANG estimates 20-30 rigs could be added back. An avg. Permian rig = 7,000-10,000Bbl/d of oil production = 140k-300k bbl/d of future growth. Contrast that
@staunovoDiamondback Energy Inc., one of the biggest US shale producers, predicts that drillers will add as many as 30 rigs to America’s most prolific oil field by the end of the year as the Iran war sends crude prices soaring. That would equate to