Diamondback

Permian Basin pure-play Diamondback Energy Inc. saw its oil and natural gas output bottom in the third quarter, and it is eyeing a slight increase through the end of the year — but not by much until  prices recover. Fourth quarter output is expected to meet a production target of 170,000-175,000 b/d of oil, CEO…

Permian Basin pure-play Diamondback Energy Inc., which undertook a nearly three-month break from completion activity and shut-in wells as Covid-19 stormed the oilpatch, has brought back online nearly all of the volumes, but it has set full-year production guidance lower. The Midland, TX-based independent voluntarily curtailed 9,000 b/d (16,100 boe/d) during 2Q2020, mostly in May,…

Stung by the untimely and expensive takeover of Anadarko Petroleum Corp. in 2019, debt-laden Occidental Petroleum Corp. (Oxy) is working to right itself after taking a battering in the first three months, joining other Permian Basin-heavy operators in reducing activity in reaction to plummeting demand.

Covid-19 is continuing to cast its dark shadow across the energy sector, as more layoffs are announced and further reductions to capital spending marred the end to the first quarter.

Covid-19 is continuing to cast its dark shadow across the energy sector, as more layoffs are announced and further reductions to capital spending marred the end to the first quarter.

Following its $9.2 billion acquisition of Energen Corp. in 2018, Permian Basin pure-play Diamondback Energy Inc. reported a 65% year/year (y/y) increase in oil and gas production to 301,300 boe/d during the fourth quarter.

Permian Basin pure-play Diamondback Energy Inc.’s oil production in West Texas is returning to normal after taking an “unprecedented” hit from neighboring offset well interference during the third quarter.

Viper Energy Partners LP, which is working to consolidate fragmented property in the Permian Basin, expects its oil-weighted third quarter output to increase about 9% sequentially.

Permian Basin-focused Viper Energy Partners LP agreed Monday to buy Santa Elena Minerals LP in an all-equity transaction to gain 1,358 net acres in West Texas that would give parent Diamondback Energy Inc. a more contiguous leasehold in the Permian Basin.