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Diamondback to Complete 30-50 DUCs in Q4; Tests 13,000 ft Lateral
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Diamondback Energy announced financial and operating results for Q3 2016.
Key Points: Averaged four operated rigs Drilled 17 gross horizontal wells / completed 21 operated horizontal wells with two completion crews Plans to complete essentially all of its remaining DUCs by the end of 2016Longer Laterals Increasing Returns
Drilled two wells in Midland County with lateral lengths over 13,000 feet, the Company's longest horizontal wells drilled to date Highlights: As previously announced, Q3 2016 production of 44.9 Mboe/d (73% oil), up 22% quarter over quarter and 32% year over year Cash operating costs of $9.15 per boe, including cash G&A of $0.88 per boe Previously increased full year 2016 production guidance to 41.0 to 42.0 Mboe/d, up from 38.0 to 40.0 Mboe/d Borrowing base…- ✓ Full news archive — U.S., Canada & international coverage
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