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Diamondback Impressed By Wolfcamp A Well Results; Update Type Curve
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Diamondback Energy, Inc. announced financial and operating results for the third quarter ended September 30, 2015 and provided updated guidance for 2015.
Highlights: Diamondback's Q3 2015 production was 34.1 Mboe/d, up 14% from 30.0 Mboe/d in Q2 2015. The Company has raised its production guidance for 2015 from a range of 30.0 to 32.0 Mboe/d to a range of 31.0 to 32.0 Mboe/d while expecting capital spend to be at the low end of the guided range of $400 to $450 million. Well costs are currently trending between $5.5 and $5.8 million for a 7,500 foot lateral. As a result, the Company has lowered its average well cost guidance in 2015 to $6.2 to $6.4 million from $6.2 to $6.7 million, previously."We continue to deliver robust well results and de-risk new horizons while lowering both well…
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