Diamondback Energy expects the Permian Basin to produce more natural gas than any other U.S. basin in the 2030s while retaining its lead in crude oil. In a Nov. 2 shareholder letter, the Midland, Texas, producer projected that the basin would yield more gas per barrel of oil over time. It also identified formations in the Midland and Delaware basins with potential to yield a higher share of gas.
Diamondback and its partners, led by WhiteWater, are moving ahead with the Solitude pipeline project from the Permian Basin to Katy, Texas. The partners plan to start service in late 2029 with capacity of about 2.25 billion cubic feet per day and double that capacity in 2030. Diamondback aims to supply more gas to Gulf Coast liquefied natural gas export facilities and expects Texas power generation to drive additional demand.
Diamondback reported third-quarter output of 1.03 million barrels of oil equivalent per day, up 2% from the previous quarter. Oil production held at about 525,000 barrels per day. The company raised its full-year 2026 outlook to about 1.01 million barrels of oil equivalent per day, including about 524,000 barrels per day of oil.
Source: Rigzone
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