Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2020 | 2020 Guidance
Diamondback Keeping Capex Flat at $2.9B for 2020; Production Growth of 12%
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Diamondback Energy Inc. reported an update to its 2020 capital plan.
The company also announced financial and operating results for the fourth quarter and full year ended December 31, 2019 (available below 2020 capex).
2020 Plans Capital Plan: $2.8-3.0 billion (relatively flat from $2.87B in 2019) Production: Total production is slated to grow 12% to 310-325 MBOEPD. Similarly, oil output is also expected to increase 12% to 210 MBOPD.Note the 2020 capital program includes 100% working interest capital for 15 - 17 wells on the San Pedro joint venture acreage with Carlyle due to the accounting treatment of the joint venture, resulting in over $175 million of gross capital for these projects in the consolidated budget. Per the joint development agreement, Diamondback's net capital…
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