Diamondback Q4 production up 65% y-o-y

Diamondback Energy Inc., Midland, Tex., reported average daily production of 301,300 boe/d (195,000 bo/d), a 5% increase from third-quarter 2019 and up 65% from fourth-quarter 2018.

Average daily production for the full year was 283,000 boe/d (187,700 bo/d), a 27% increase from 2018 average daily volumes, with oil volumes increasing 26% year-on-year after adjusting for the Energen transaction, which closed Nov. 29, 2018.

Viper Energy Partners LP, a subsidiary of Diamondback, reported fourth-quarter 2019 average daily production of 26,100 boe/d (16,500 bo/d), a 23% increase from third-quarter 2019 and up 29% from fourth-quarter 2018.

Fourth-quarter 2019 financial results are expected Feb. 18.