Articles tagged Diamondback Energy

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.

A consortium of operators that own the Whistler Pipeline LLP, which moves Permian Basin natural gas to the Gulf Coast, has launched another project designed to move up to 2.5 Bcf/d more supply for LNG exports and Mexico.

Dealmaking among U.S. natural gas and oil operators is showing few signs of slowing, as consolidation is giving rise to the question of how long the industry revamp would continue.

Expectations for North American upstream natural gas capital expenditures in 2024 continue to show a year/year decline in the low- to mid-single digits, with subdued rig counts persisting throughout the year. Eventually, those rigs would need to resume work to account for the in-service of more Lower 48 LNG export capacity next year, and possibly to gear up for the rapid growth in data centers – although it is uncertain as to what that opportunity for incremental gas demand may be.

Permian Basin pure-play Diamondback Energy Inc.’s oil production is almost back to levels before Texas was stopped in its tracks by last week’s wintry blast, but it will take some time to make up the difference, CEO Travis Stice said Tuesday.