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Diamondback Encourages Initial Clearfork Test Results

Source: www.gulfoilandgas.com 10/21/2013, Location: North America

Diamondback Energy, Inc. ("Diamondback") announced initial results from its Digger 601H Clearfork Shale well in Andrews County which tested at a 24 hour rate of 611 Boe/d (87% oil) from a 7,541 foot lateral.

"Since the onset of first oil in early September, the oil rate has continued to increase, reaching a maximum rate to date of 611 Boe/d (87% oil) on October 15th," said Travis Stice CEO of Diamondback. "This well has demonstrated a different production profile than our typical horizontal Wolfcamp B wells that tend to peak much earlier in the initial flowback period." The well was completed for $6.8 million, with 30 frac stages using a slickwater stimulation technique and is currently producing with an electric submersible pump. Stice continued, "Further testing will be required to validate reserve estimates, but the results so far are encouraging."

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