Midland-based Diamondback Energy said Aug. 2 it increased 2021 oil guidance to 219,000-to-222,000 barrels per day (up from 212,000-to-216,000 b/d forecast earlier) and lowered full-year 2021 cash capital expense guidance to $1.525 billion-to-$1.625 billion – down 6 percent at midpoint from $1.60 billion-to-$1.75 billion. Oil production in Permian Basin in 3Q is forecast to be 218,000-to-222,000 b/d. “We are doing more with less,” Travis Stice, CEO, said, “producing more barrels with less capital, fewer completed wells and fewer drilling rigs.”
Diamondback subsidiary Viper also increased 2021 full-year guidance to 15,750-to-16,250 barrels of oil per day – up by 2 percent from midpoint.