Permian operator begins scalable program: will drop back to 18-22 rigs and 8 frac crews due to lower oil prices, but dramatically higher commodity pricing will reflect a “mix of growth and increasing return of capital”
Diamondback Energy (ticker: FANG) announced 2019 guidance today, outlining the company’s outlook now that it has closed the Energen acquisition.

The company estimates full year production of 275-290 MBOEPD, representing roughly 137% growth compared to 2018 output. However, most of this increase is simply due to Diamondback’s acquisitions in 2018, and the 2019 guidance represents 28% pro forma growth.

This represents a significant slowdown from 2018, as the company expects to grow by 50% this year. This slowdown is ref...

Legal Notice