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This statistic highlights Diamondback Energy’s Production by Product from 2016 onwards, split across Natural gas (MMcf), Natural gas liquids (MBbls) and Oil (MBbls) segments.
Diamondback Energy’s Production by Product
|Production by Product||2018||2019||2020|
|Natural gas (MMcf)||34,669||97,613||130,549|
|Natural gas liquids (MBbls)||7,465||18,498||21,981|
(All figures are in absolute numbers, except percentages)
Diamondback Energy’s total production increased from 40,438 units produced in 2016 to 328,633 units produced 2020, marking a rise of 712% over a period of 4 years. It also increased by 164.7% as compared to 124,111 units produced in 2018 and by 14.14% as compared to 287,914 units produced earned in 2019.
Further, the statistical analysis of different product categories pf Diamondback Energy is explained as follows:
Natural gas (MMcf)
Diamondback Energy’s production of Natural gas (MMcf) has increased from 34,669 units produced in 2018 to 130,549 units produced in 2020, marking a rise of 276% over this time period. It has also increased by 33.7% as compared to 97,613 units produced in 2019. This product category accounted for 40% of the company’s total production and is the most produced product by the company.
Natural gas liquids (MBbls)
Diamondback Energy’s production of Natural gas liquids (MBbls) stood at 21,981 units in 2020. It has increased by 194% as compared to 7,465 units produced in 2018 and by 18.8% as compared to 18,498 units produced in 2019. This product category accounts for 7% of the company’s total production.
Diamondback Energy’s production of Oil (MBbls) increased by 92.5%, from 34,367 units produced in 2018 to 66,182 units produced in 2020. It decreased by 8.12% compared to 68,518 units produced in 2019. This product category accounted for 20% of the company’s total production.
Diamondback Energy’s production of Total (Mboe) stood at 109,921 units in 2020. It has increased by a massive 598% when compared to 15,749 units produced in 2016 and by 6.4% compared to 103,285 units produced in 2019. This product category accounts for 33% of the company’s total production.
Diamondback Energy is an independent oil and natural gas company engrossed in the acquisition, growth, exploration, and exploitation of progressive, onshore oil and natural gas reserves in the Permian Basin in West Texas. This basin, which is one of the chief producing basins in the United States, is considered by an extensive production history, a favorable functioning environment, mature infrastructure, long reserve life, multiple producing horizons, improved recovery potential, and a large number of operatives. The company reports operations in two functioning segments: (i) the upstream segment and (ii) the midstream operations segment, which includes midstream services.
Its activities are mostly focused on horizontal growth of the Spraberry and Wolfcamp formations of the Midland Basin and the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are share of the bigger Permian Basin in West Texas and New Mexico. These developments are categorized by a high concentration of oil and liquids-rich natural gas, numerous vertical and horizontal target horizons, widespread production history, long-lived reserves, and high drilling achievement rates.
As of December 31, 20201, its total acreage position in the Permian Basin was around 524,700 gross (445,848 net) acres, which comprised mainly of around 292,903 gross (265,562 net) acres in the Midland Basin and around 189,357 gross (148,588 net) acres in the Delaware Basin. In addition, the company’s widely traded subsidiary Viper Energy Partners LP, which it refers to as Viper, holds mineral interests in the Permian Basin and Eagle Ford Shale. It owns Viper Energy Partners GP LLC, the general partner of Viper, which it refers to as Viper’s general partner, and it owns approximately 54% of the limited partner interests in Viper. Diamondback Energy’s stock goes by the symbol ‘FANG’ and is listed on the NASDAQ stock exchange.
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