Midland-based Diamondback Energy said Nov. 2 it expects to meet its 2020Q4 production target of 170,000 to 175,000 barrels of oil per day, also the baseline for its 2021 development plan. “Our drilling and completion operations continue to become more efficient,” Travis Stice, CEO, said. Oil production for 2020Q3 averaged 170,000 b/d (287,300 boed). In 2020Q3 Diamondback drilled 32 gross operated horizontal wells (22 in Midland, 10 in Delaware) and turned 41 wells to production (25 in Midland, 16 in Delaware).
Diamondback subsidiary Viper Energy increased oil production in 2020Q3 by 10 percent to 15,829 b/d (26,409 boed) from 2020Q2. Viper said in 2020Q3 it turned 108 total gross horizontal wells (4.7 net 100 percent royalty interest) to production on its acreage.
Diamondback subsidiary Rattler Midstream reported 2020Q3 average produced water gathering and disposal volumes of 763,000 barrels per day – down 10 percent from 2019Q3 and down 1 percent from 2020Q2. Rattler’s 2020Q3 average oil gathering volumes of 91,000 b/d were up 2 percent from 2019Q3 and flat compared to 2020Q2. Stice added, “Rattler operations in 2020Q3 stabilized after the interruption caused by the historic commodity price volatility in 2020Q2.”