Top Story | Capital Markets | Capital Expenditure - 2020

Diamondback Drill & Complete 456 Wells with $4 Billion Capex IN 2025

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Diamondback provided the following 2025 gudiance.

2025 Guidance & Strategy:

Production & CapEx:

  • Oil Production: 485 – 498 MBO/d (883 – 909 MBOE/d total)

  • CapEx: $3.8B – $4.2B

  • Q1 Oil Guidance: 470 – 475 MBO/d

  • Wells:

    • 446 – 471 gross wells drilled

    • 557 – 592 gross wells completed

    • Avg lateral ~11,500 ft

Efficiency & Well Costs:

  • Midland Basin: $555 – $605/ft

  • Delaware Basin: $860 – $910/ft

  • Oil Production per $MM CAPEX: 44.8 MBO, a 10% improvement YoY

2024 Operational Highlights:

  • FY24 Production:

    • 337 MBO/d oil (598.3 MBOE/d total)

    • Q4: 475.9 MBO/d (883.4 MBOE/d)

  • Well Completions:

    • 391 operated wells in Midland, 19 in Delaware

    • Avg lateral: ~11,719 feet

  • Q4 Completions by Formation:

    • Wolfcamp A/B/D, Spraberry (Upper/Middle/Lower), Jo Mill, Bone Spring, Dean, Barnett

  • Reserves:

    • Proved Reserves: 3,557 MMBOE (up 63%)

    • PDP Reserves: 2,385 MMBOE (67% of total)

    • Reserve Replacement Ratio: 730% total; 68% organically

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