Two Permian operators who announced a merger Monday also revealed fourth quarter and fullyear production for 2023. Diamondback Energy said 4Q production was 273.1 million barrels of oil per day (462.6 million boed) with cash capital expenditures of $649 million. In 2024 Diamondback – on a standalone basis – expects to generate oil production of 270 million to 275 million barrels of oil per day (458 million to 466 million boed) with a total capital budget of about $2.3 billion to $2.55 billion.
Endeavor Energy Resources said it expects 2024 oil production of 190 million to 200 million b/d (350 million to 365 million boed). Total 2024 capital budget should be about $2.5 billion to $2.6 billion.