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This statistic highlights Diamondback Energy’s Average Daily Production, split across Natural Gas, Daily combined volumes, Oil, and Natural Gas Liquids, reported on a quarterly basis from Q1 2016 onwards.
The table below shows the average daily production of Diamondback Energy in the recent quarters:
Category | Q3 2020 | Q2 2021 | Q3 2021 |
Natural gas (Mmcf) | 32,505 | 44,506 | 45,571 |
Daily combined volumes (MBOE) | 26,433 | 36,532 | 37,193 |
Oil (MBbl) | 15,639 | 22,067 | 22,058 |
(1. Mboe =One thousand barrels of crude oil equivalent, determined using a ratio of six Mcf of natural gas to one Bbl of crude oil, condensate or natural gas liquids)
(2. MBbls= One thousand barrels of crude oil or other liquid hydrocarbons)
(3. Mmcf=Million cubic feet of natural gas)
According to the given table, the total average daily production can be seen increasing at a notable rate. The total average daily production has increased from 79,954 in Q3 2020 to 1,12,362 in Q3 2021, marking a percentage increase of 41% on a YoY basis. And, the total average daily production has increased from 1,10,152 in Q2 2021 to 1,12,362 in Q3 2021, marking a percentage increase of 2% on a Q0Q basis.
Segment-wise analysis
Natural gas
The total average daily production in this segment can be seen increasing at a decent rate. The total average daily production of this segment has increased from 32,505 in Q3 2020 to 45,571 in Q3 2021, marking a percentage increase of 40% on a YoY basis. Then, the total average daily production of this has increased from 44,506 in Q2 2021 to 45,571 in Q3 2021, marking a percentage increase of 2% on a Q0Q basis. Moreover, this segment has contributed 41% of the total average daily production in the latest quarter.
Daily combined volumes
The total average daily production in this segment can be seen increasing at a marginal rate. The total average daily production of this segment has increased from 26,433 in Q3 2020 to 37,193 in Q3 2021, marking a percentage increase of 41% on a YoY basis. Whereas, the total average daily production of this has increased from 36,532 in Q2 2021 to 37,193 in Q3 2021, marking a percentage increase of 2% on a Q0Q basis. Also, this segment contributed 33% of the total average daily production in the latest quarter.
Oil
The total average daily production of this segment has increased from 15,639 in Q3 2020 to 22,058 in Q3 2021, marking a percentage increase of 41% on a YoY basis. But, the total average daily production of this has decreased from 22,067 in Q2 2021 to 22,058 in Q3 2021, faintly decreasing to 0.04% on a Q0Q basis. Also, this segment has contributed 20% of the total average daily production in the latest quarter.
Natural gas liquids
The total average daily production in this segment can be seen increasing at a marginal rate as well. The total average daily production of this segment has increased from 5,377 in Q3 2020 to 7,540 in Q3 2021, marking a percentage increase of 40% on a YoY basis. Whereas, the total average daily production of this has increased from 7,047 in Q2 2021 to 7,540 in Q3 2021, marking a percentage increase of 7% on a Q0Q basis. And, this segment has contributed 7% of the total average daily production in the latest quarter.
About The Company
They are an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. This basin, which is one of the major producing basins in the United States, is characterized by an extensive production history, a favourable operating environment, mature infrastructure, long reserve life, enhanced recovery potential, multiple producing horizons and a large number of operators. They report operations in two operating segments: (i) the upstream segment and (ii) the midstream operations segment, which includes midstream services.
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