Diamondback Energy Inc. is aiming to capture more value from the immense volumes of associated natural gas it produces as a byproduct of oil extraction in the Permian Basin, according to management.
Gas price risk has “been a big topic lately,” CFO Kaes Van’t Hof said during a conference call to discuss second quarter earnings for Midland, TX-based Diamondback. “Obviously we need to start making more money on our gas in the Permian.”
Diamondback is a Permian pure play, with operations in the Midland and Delaware sub-basins, as well as the Central Basin Platform.
