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Diamondback Boosts Q3 Production & CapEx Guidance After Acquisition [Yahoo! Finance]
Last chevron corporation earnings: 5/1 06:45 am
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US:NYSE Investor Relations: chevron.com/investors
FANG, a leading Texas-based oil and gas producer, recently increased the company's third-quarter production forecast following the completion of its $26 billion acquisition of Endeavor Energy Resources. This strategic move has not only increased FANG's production capacity but also positioned the company as the third-largest producer in the Permian Basin, trailing only behind ExxonMobil XOM and Chevron CVX. FANG's Bold Production Forecast for Third Quarter In its updated forecast, the oil and gas exploration and production company expects to produce between 565,000 barrels of oil equivalent per day (boepd) and 569,000 boepd in the third quarter, marking a significant increase from the prior guidance of 459,000 boepd to 466,000 boepd. This growth is driven by the integration of Endeavor's vast assets in the Permian Basin, which boasts some of the most prolific shale reserves in the United States. Boost in Oil Production Exceeding Analyst Expectations One of the highlights of FAN
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