During the second quarter of 2023, Diamondback drilled 86 gross wells in the Midland Basin and 12 gross wells in the Delaware Basin. The Company turned 71 operated wells to production in the Midland Basin and 18 gross wells in the Delaware Basin with an average lateral length of 10,967 feet. Operated completions during the second quarter consisted of 24 Lower Spraberry wells, 21 Wolfcamp A wells, 18 Wolfcamp B wells, 10 Jo Mill wells, seven Third Bone Spring wells, six Middle Spraberry wells, two Second Bone Spring wells and one Upper Spraberry well.
Oil & Gas Data Download
Diamondback Wells Drilled 2023
Diamondback Active Rigs
Permian Basin Account List
Detailed list of 500+ Operators that Operate in the Permian Basin
For the first half of 2023, Diamondback drilled 156 gross wells in the Midland Basin and 24 gross wells in the Delaware Basin. The Company turned 140 operated wells to production in the Midland Basin and 37 operated wells to production in the Delaware Basin. The average lateral length for wells completed during the first six months of 2023 was 10,889 feet, and consisted of 44 Wolfcamp A wells, 44 Lower Spraberry wells, 33 Wolfcamp B wells, 21 Jo Mill wells, 14 Third Bone Spring wells, 11 Middle Spraberry wells, eight Second Bone Spring wells, one Upper Spraberry well and one Barnett well.
FINANCIAL UPDATE
Diamondback’s second quarter 2023 net income was $556 million, or $3.05 per diluted share. Adjusted net income (as defined and reconciled below) was $669 million, or $3.68 per diluted share.
Second quarter 2023 net cash provided by operating activities was $1.51 billion. Through the first half of 2023, Diamondback’s net cash provided by operating activities was $2.94 billion.
During the second quarter of 2023, Diamondback spent $635 million on operated and non-operated drilling and completions, $46 million on infrastructure and environmental and $30 million on midstream, for total cash capital expenditures of $711 million. During the first half of 2023, Diamondback has spent $1.22 billion on operated and non-operated drilling and completions, $88 million on infrastructure and environmental and $65 million on midstream, for total cash capital expenditures of $1.37 billion.
Diamondback News
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Manufacturing the Midland:How Diamondback Turns Tier 1 Permian Inventory into Repeatable Capital Efficiency
Diamondback Energy – A Midland Basin Factory Model in Motion
A Wildcat a Grade A Permian Drilling Program — Diamondback Energy, Reagan County, Texas
