Diamondback asks you to note the guidance below gives effect to the pending Guidon acquisition that is expected to close on February 26, 2021, but does not take into account the impact of the pending all-stock acquisition of QEP. Assuming the pending QEP transaction is completed, Diamondback will provide updated guidance giving effect to that transaction.
- Diamondback full year 2021 oil production guidance of 178 – 185 MBO/d (308 – 325 MBOE/d)
- Full year 2021 cash CAPEX guidance of $1.35 – $1.55 billion
- Diamondback expects to drill between 180 – 200 gross (156 – 172 net) wells and complete between 215 – 235 gross (197 – 215 net) wells with an average lateral length of approximately 10,100 feet in 2021
- Diamondback expects the production impact from recent winter storms in the Permian Basin will be in the range of four to five days of total net production lost in the first quarter of 2021. For reference, Diamondback’s full month January 2021 actual average daily production was 175.7 MBO/d (304.0 MBOE/d)
- Prior to the winter storms, Diamondback expected its Q1 2021 production guidance to equal its Q4 2020 guidance of 170 to 175 MBO/d (290 – 305 MBOE/d) without giving effect to one month of Guidon production of approximately 12 MBO/d (20 MBOE/d)
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