Diamondback Raises 2026 Output Outlook as Oil Prices Rally
Diamondback Energy Inc. is increasing output in the Permian Basin and raising its 2026 production outlook as crude prices climb, with the company pointing to higher prices tied to the Iran war. Chief Executive Officer Kaes Van’t Hof said in a letter to shareholders Monday that Diamondback is pumping more than 520,000 barrels of crude a day, about 3% above its original full-year guidance, and plans to maintain that level.
The shale producer now expects to produce more than 972,000 barrels of oil equivalent a day in 2026, up from its previous forecast of 926,000 to 962,000 boepd. Diamondback plans to run five completion crews and add two to three rigs over the remainder of 2026, while increasing capital expenditures to about $3.9 billion from $3.75 billion.
From the sources (3 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