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Diamondback Adds 13th Rig as Longer Laterals Pay Off; Talks New 'Limelight' Project
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Diamondback Energy reported its Q2 2018 results.
Earlier this month, Diamondback inked a $9.2 billion acquisition of Permian-focused Energen. Upping Rig Count to 13Diamondback plans to add its 12th and 13th operating rigs to development during Q3.
Well plans remain unchanged at 170 and 190 gross operated horizontal wells to production for the full year 2018. Longer Laterals Paying Off in Wolfcamp AStrong Wolfcamp A Results: The Company recently completed four Wolfcamp A wells with an average lateral of 9,995 feet. These wells achieved an average peak IP30 rate of 146 boe/d per 1,000 feet (86% oil).
In Reeves County, Diamondback recently completed two Wolfcamp A wells with an average lateral length of 10,228 feet. These wells have achieved a current average peak IP30 rate of 219…
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