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Diamondback Ups Budget, Mulls Rig Increase After Asset Grab
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Diamondback Energy Inc. has updated its guidance and operations after announcing its new acquisition in the Delaware Basin.
Diamondback now intends to complete 60 to 75 gross horizontal wells this year, an increase of approximately 30% from the midpoint of the prior range of 35 to 70 gross horizontal wells. In conjunction with increased completions, the Company is increasing its 2016 capital expenditure guidance to $350 to $425 million from the prior range of $250 to $375…
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