Well Lateral Length | Drilling / Well Results | Quarterly / Earnings Reports | First Quarter (1Q) Update | IP Rates-30-Day | Initial Production Rates | Drilling Activity
Diamondback Sees 67% Output Growth YOY; Talks Latest Midland, Delaware Basin IPs
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Diamondback Energy reported its Q1 2018 results.
Highlights: net income of $163 million, or $1.65 per diluted shareQ1 2018 production of 102.6 Mboe/d (74% oil) up 10% sequentially and 67% Year-Over-Year
Drilling Activity:
drilled 41 gross horizontal wells and turned 35 operated horizontal wells to production operating 11 horizontal drilling rigs and five dedicated frac spreads Average completed lateral length for first quarter wells was 9,000 feet CapEx CAPEX of $318 millionspent $275 million on drilling, completion and non-operated properties, and $43 million on infrastructure and midstream.
Operated completions during the first quarter consisted of 20 Wolfcamp A wells, nine Lower Spraberry wells, four Wolfcamp B wells, one Middle Spraberry well and one Third Bone…
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