{"id":31042,"date":"2023-05-02T13:54:54","date_gmt":"2023-05-02T13:54:54","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/diamondback-energy-sees-oilfield\/"},"modified":"2023-05-02T13:59:07","modified_gmt":"2023-05-02T13:59:07","slug":"diamondback-energy-sees-oilfield","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/diamondback-energy-sees-oilfield\/","title":{"rendered":"Diamondback Energy sees oilfield inflation easing"},"content":{"rendered":"

By Liz Hampton<\/p>\n

DENVER (Reuters) – U.S. shale producer Diamondback Energy on Tuesday said rig prices are falling and steel costs are set to decline by about $20-$25 per foot, a sign the inflationary pressures that plagued the oilfield in the past year are easing. <\/p>\n

Diamondback’s second-quarter average rig dayrate is down from the first quarter, the company told investors. It did not specify how much the rate had declined. <\/p>\n

The company also said it anticipated dealmaking to pick up in the oil patch, as private firms look to monetize. <\/p>\n

“I really think the next couple of years are going to be interesting in the M&A landscape,” CEO Travis Stice told investors on an earnings call. <\/p>\n

He added that there are “some small-cap public companies that are going to need to figure out some form of exit strategy to continue to be relevant in the future.”<\/p>\n

\n

(Reporting by Liz Hampton in Denver; Editing by Mark Porter)<\/p>\n

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By Liz Hampton DENVER (Reuters) – U.S. shale producer Diamondback Energy on Tuesday said rig prices are falling and steel costs are set to decline by about $20-$25 per foot, a sign the inflationary pressures that plagued the oilfield in the past year are easing. Diamondback’s second-quarter average rig dayrate is down from the first […]<\/p>\n","protected":false},"author":8,"featured_media":31043,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-31042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ410JM-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=31042"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31042\/revisions"}],"predecessor-version":[{"id":31044,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31042\/revisions\/31044"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/31043"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=31042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=31042"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=31042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}