On it's Q3 2026 earnings call this week, Permian pure-play operator Diamondback Energy reported Q3 2026 oil production of 525 Mbbl/d, flat with Q2, and guided to 518-528 Mbbl/d for Q4, putting full-year 2026 oil at about 524 Mbbl/d (up from 522+). On the earnings call, CEO Kaes Van’t Hof said there is “not a need for us to put out a formal 2027 plan” until February. The base case is to keep running 19-20 rigs and five frac crews, with any growth “still very much TBD based on the macro.” Even with oil near $100, Van’t Hof said he is personally “in the higher for longer camp,” but “it’s not a good way to run an E&P just to be a perma-bull.” Service costs are also rising, and COO Danny Wesson expects “some inflation cycle” if prices hold at current levels.
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Q2 2026 Earnings Calls: Diamondback Clears 1 MMboe/d, Lifts 2026 Guidance Again as Waha Gas Price Flips Positive
On its Q2 2026 earnings call today, Permian operator Diamondback Energy reported oil production of 525 Mbbl/d, at the top end of guidance, while total production of 1,018 Mboe/d carried the company above 1 MMboe/d for the first time in its history.
Q1 2026 Earnings Calls: Diamondback Tops Q1 Targets, Lifts 2026 Guidance in Shift to Growth Mode
On its Q1 2026 earnings call today, Permian pure-play operator Diamondback Energy reported oil production of 521 Mbbl/d, exceeding company expectations.
Diamondback Energy Holds Production Steady While Keeping Costs in Check
Diamondback Energy is holding oil production flat through the end of 2025, citing an uncertain crude market and confidence in its low-cost Midland Basin inventory. The company continues to drive efficiency gains, cutting well costs back to 2020 levels and accelerating completions with its new “continuous pumping” technique. At the same time, Diamondback is reducing its exposure to Waha-indexed gas prices by adding new pipeline capacity and exploring in-basin power projects that would create new demand for its natural gas.
