Drilling & Completions | Top Story | Frac Markets - Pressure Pumping
Permian E&P Increasing Capex and Ramping Up Frac Crews
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In its pre-Q2 release, Diamondback Energy outlined a few things worth mentioning.
The company revised its 2020 capex, drilling & completion program. The new program calls for one additional frac crew and $150 million additional spending. The increase in capital spending is being driven by the company increase in frac activity.
As you might remember, the company reduced its frac fleets from 6 to 1 at the end of March. The company is currently operating 3 fleets and while the company has guided to 3-4 fleets in the second half, we believe based on field level intelligence they will increase to the fourth fleet soon.
Here is a look at the company drilling program.
Diamondback Energy - Rig Count By Week. (last 6 months)This is in keeping with what we have observed with the rise in…
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