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This statistic highlights Diamondback Energy’s average realized prices, split across Combined, Natural Gas, Natural gas liquids and Oil, on a quarterly basis from Q1 2016 onwards.
The table below shows Diamondback Energy’s average realized prices some of its recent quarters:
Category | Q3 2020 | Q2 2021 | Q3 2021 | Contribution in Q3 2021 |
Oil ($/bbl) | 38.8 | 63.2 | 68.3 | 44% |
Combined ($/boe) | 26.8 | 45.6 | 51 | 33% |
Natural Gas Liquids ($/bbl) | 12.1 | 23.4 | 31.7 | 21% |
Natural Gas ($/mcf) | 1.1 | 2.4 | 3.3 | 2% |
Total | 78.7 | 134.7 | 154.3 | 100% |
Note 1 – Price realisation refers to the product’s average selling price per unit.
Note 2 –
According to the given data, the average price realisation increased at a notable rate. The average price realised increased from $78.7 in Q3 2020 to $154.3 in Q3 2021, marking a percentage growth of 96% on a YoY basis. And, the average price realised increased from $134.7 in Q2 2021 to $154.3 in Q3 2021, marking a percentage growth of 15% on a QoQ basis.
Category-wise Analysis
Oil ($/bbl)
The average price realisation grew at a fine rate for this segment. The average price realised increased from $38.8 in Q3 2020 to $68.3 in Q3 2021, marking a percentage growth of 76% on a YoY basis. Whereas, the average price realised increased from $63.2 in Q2 2021 to $68.3 in Q3 2021, marking a percentage growth of 8% on a QoQ basis. Moreover, the percentage contribution of this segment in the latest quarter is 44%.
Combined ($/Boe)
The average price realisation increased at a decent rate for this segment. The average price realised increased from $26.8 in Q3 2020 to $51.0 in Q3 2021, marking a percentage growth of 91% on a YoY basis. And, the average price realised increased from $45.6 in Q2 2021 to $51.0 in Q3 2021, marking a percentage growth of 12% on a QoQ basis. Also, the percentage contribution of this segment in the latest quarter is 33%.
Natural gas liquids ($/bbl)
The average price realisation grew at a decent rate as well for this segment. The average price realised increased from $12.1 in Q3 2020 to $31.7 in Q3 2021, marking a percentage growth of 162% on a YoY basis. Also, the average price realised increased from $23.4 in Q2 2021 to $31.7 in Q3 2021, marking a percentage growth of 35% on a QoQ basis. And, the percentage contribution of this segment in the latest quarter is 21%.
Natural Gas ($/mcf)
The average price realisation increased for this segment. The average price realised increased from $1.1 in Q3 2020 to $3.3 in Q3 2021, marking a percentage growth of 201% on a YoY basis. Whereas, the average price realised increased from $2.4 in Q2 2021 to $3.3 in Q3 2021, marking a percentage growth of 39% on a QoQ basis. However, the percentage contribution of this segment in the latest quarter is 2%.
About the Company
Diamondback is an independent oil and natural gas company that focuses on the acquiring, developing, exploring and exploiting onshore oil and natural gas reserves in the Permian Basin. Their activities are primarily focused on the horizontal development of the Spraberry and Wolfcamp formations of the Midland Basin and the Wolfcamp and Bone Spring formations of the Delaware Basin. These formations are denoted by a high concentration of liquids-rich natural gas and oil, multiple vertical and horizontal target horizons, extensive production history, long-lived reserves and high drilling success rates. On December 31, 2021, their total acreage position in the Permian Basin was approximately 524,700 gross acres.
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