Midland’s Diamondback Energy last week reported third quarter daily production of 1,034,000 barrels of oil equivalent and raised 2026 guidance to 1,015,000 boed (up from 1,000+). Oil production in 3Q was 525,000 b/d, and Diamondback said 2026 guidance is 524,000 b/d (up from 522,000 b/d). And cash capital expenditures for 2026 are expected to be $3.95 billion to $4 billion (up from $3.9 billion).
In the first nine months of 2026, Diamondback drilled 320 gross wells (300 net) and completed 450 gross wells (427 net), including 105 in Wolfcamp A, 104 in Wolfcamp B and 87 in lower Spraberry.
Kaes Van’t Hof, CEO, said Nov. 2, “Our current expectation for activity in 2027 is to run five electric simulfrac fleets consistently for maximum efficiency while running enough rigs ahead of those crews to maintain the execution buffers one would expect from Diamondback… Technology is increasingly part of how we deliver these results.”
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