{"id":60262,"date":"2021-11-03T18:48:00","date_gmt":"2021-11-03T23:48:00","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60262"},"modified":"2021-11-03T18:48:00","modified_gmt":"2021-11-03T23:48:00","slug":"the-oil-omen-first-large-u-s-shale-driller-to-pledge-flat-output-in-2022","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60262","title":{"rendered":"The Oil Omen: First Large U.S. Shale Driller To Pledge Flat Output In 2022"},"content":{"rendered":"<h3><a href=\"https:\/\/oilprice.com\/Energy\/Crude-Oil\/The-Oil-Omen-First-Large-US-Shale-Driller-To-Pledge-Flat-Output-In-2022.html\">The Oil Omen: First Large U.S. Shale Driller To Pledge Flat Output In 2022<\/a><\/h3>\n<div id=\"key_points\" class=\"wysiwyg clear\">\n<ul>\n<li>Diamondback said it planned to pump some 221,000 to 225,000 barrels of crude daily. For full 2021, Diamondback said production would come in at between 222,000 to 223,000 bpd<\/li>\n<li>Most large shale drillers are adopting the same approach in order to keep their shareholders happy after years of burning cash to boost production to a maximum<\/li>\n<\/ul>\n<\/div>\n<div class=\"articleImageContainer\">\n<div class=\"JoinCommunityBtnContainer\">Diamondback Energy has said it will not increase its crude oil production next year despite the surge in prices.<\/div>\n<\/div>\n<div id=\"article-content\" class=\"wysiwyg clear\">\n<p>In the\u00a0<a href=\"https:\/\/www.diamondbackenergy.com\/news-releases\/news-release-details\/diamondback-energy-inc-announces-third-quarter-2021-financial\" target=\"_blank\" rel=\"noopener\">release<\/a>\u00a0of its third-quarter results, Diamondback said it planned to pump some 221,000 to 225,000 barrels of crude daily. For full 2021, Diamondback said production would come in at between 222,000 to 223,000 bpd.<\/p>\n<p>\u201cAs we move into 2022, we are still seeing excess oil supply and varying demand recovery profiles across the globe. As such, we remain committed to capital discipline and our plan to return excess Free Cash Flow to our stockholders,\u201d said the company\u2019s chief executive, Travis Stice, echoing a widely shared attitude in the shale oil and gas industry.<\/p>\n<p>\u201cTherefore, we are committing to maintaining our fourth quarter 2021 Permian oil volumes throughout next year and we believe this can be accomplished by spending the amount of capital implied by our fourth quarter 2021 guidance run-rate,\u201d Stice also said, noting this approach would allow the company to return more cash to shareholders, pay down more debt, and maximize free cash flow.<\/p>\n<p>Most large shale drillers are adopting the same approach in order to keep their shareholders happy after years of burning cash to boost production to a maximum. While this new approach of restraint is welcomed by shareholders, the general public\u2014and drivers specifically\u2014have no reason for joy.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Oil Omen: First Large U.S. Shale Driller To Pledge Flat Output In 2022 Diamondback said it planned to pump some 221,000 to 225,000 barrels of crude daily. For full 2021, Diamondback said production would come in at between 222,000 to 223,000 bpd Most large shale drillers are adopting the same approach in order to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[32083,13719,588,5332,723],"class_list":["post-60262","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-diamondback","tag-irina-slav","tag-oil","tag-oilprice-com","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60262"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60262\/revisions"}],"predecessor-version":[{"id":60263,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60262\/revisions\/60263"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}