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Diamondback Energy Details 1Q 2014 Updates

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April 11, 2014

West Texas Permian Basin operator Diamondback Energy Inc. (NasdaqGS: FANG) detailed guidance and operations updates for first-quarter 2014, which ended March 31, the company said April 10.

The company’s capex stands between $425 million and $475 million, Diamondback said, adding that gross well costs are between $6.9 million and $7.4 million for horizontal wells, and between $2 million and $2.2 million for vertical wells.

Regarding horizontal wells, Diamondback drilled 11 Wolfcamp B wells during the quarter and will complete 17 to 20 wells per quarter this year, the company said. ...

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