According to the Bloomberg article (May 4, 2026) and Diamondback’s Q1 2026 earnings release/letter to shareholders: The company is currently pumping >520,000 barrels per day of oil (3% above its original full-year 2026 guidance midpoint of ~505,000 bpd). It is raising full-year 2026 guidance to 520,000+ bpd oil and 972,000+ boe/d total (up from the […]
Continue ReadingDaily Standup Top Stories Why did Saudi Arabia raise prices to the Asia market while increasing OPEC+ production quotas? May 7, 2025 Clark Savage Earlier this week, I published an article titled “What does the OPEC+ increase of 411,000 mean to the United States?” I was asked about Saudi Arabia’s increase in the Asia market and how […]
Continue ReadingDaily Standup Top Stories Saudi Arabia’s Budget Deficit Surged Before the Oil Price Crash May 6, 2025 Clark Savage ENB Pub Note: The story below is from Tsvetana Paraskova on Oilprice.com, and she has some great points about the Saudi Budgets. I have been saying that the Saudis need the $80 to $85 oil, […] US Cut […]
Continue ReadingBefore oil prices started plunging last month, most banks and research firms had forecast US shale production would grow this year and next before plateauing later in the decade. Diamondback Energy trimmed its own full-year production forecast Monday, and said that it expects onshore oil rigs across the entire US industry to drop by almost 10% […]
Continue ReadingDaily Standup Top Stories Redrawing of global energy markets map set to heap benefits on US February 23, 2025 Clark Savage The prospects of peace and the return of Russian gas looks likely to serve the interests of Donald Trump The Kremlin’s invasion of Ukraine three years ago has reverberated through the global energy industry; unravelling Europe’s […] […]
Continue ReadingDaily Standup Top Stories Iranian Oil Exports to China are rolling February 19, 2025 Clark Savage Iranian crude oil flows to China have rebounded this month after a U.S. crackdown on shipments launched in late 2024 decimated them in January. In a last-minute push to sanction Iran, the Biden admin blacklisted […] West will have to reconsider […]
Continue ReadingDiamondback Energy, Inc. (NASDAQ: FANG) on Tuesday announced a deal to buy Double Eagle IV Midco in an acquisition valued at about $4 billion, which gives the buyer increased presence in the Midland Basin in the top-oil producing U.S. formation, the Permian. Diamondback Energy has signed a definitive purchase agreement to buy certain subsidiaries of Double Eagle […]
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