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Diamondback confirms $2.7-3.1B capex with 87% for D&C
Diamondback Energy Inc. said it plans to spend $2.7-3.1 billion on capital expenditures during 2019, consisting of $2.35-2.7 billion for drilling and completion and $350-400 million for midstream and infrastructure investments. CEO Travis Stice said the company will operate 18-22 rigs next year, down from 24 at YE18, and that if commodity prices continue to fall, Diamondback “would further reduce activity to match our budget to expected annual operating cash flow.” As it stands......
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