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Diamondback, Viper Energy report higher Q4'19 production YOY

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Diamondback, Viper Energy report higher Q4'19 production YOY

Diamondback Energy Inc. on Jan. 7 said its average daily production for the fourth quarter of 2019 hit 301,300 barrels of oil equivalent per day, representing a 5% increase from the 287,100 boe/d during the third quarter 2019.

The company's 2019 fourth-quarter production was 65% greater compared with the 182,800 boe/d average daily production during the fourth quarter of 2018, according to a news release. Diamondback's average daily volume for the full year of 2019 was 283,000 boe/d, which is a 27% increase from the 222,100 boe/d in 2018.

Diamondback said it is well-positioned to deliver its plan of 10% to 15% year-over-year oil growth.

Diamondback subsidiary Viper Energy Partners LP also reported a higher average daily production of 26,100 boe/d for the fourth quarter of 2019, representing a 23% increase from the 21,300 boe/d during the previous quarter in the same year and a 29% increase from the 20,200 boe/d during the fourth quarter of 2018.

Viper Energy's average daily volume for the full year of 2019 was 21,500 boe/d, up from 17,300 boe/d for the production during the full year of 2018, according to a separate same-day news release. Viper attributes its increased 2019 production to the performance of Diamondback-operated assets.