Diamondback shifting to full-field development of Barnett holdings

Oil & Gas Journal · Geert De Lombaerde · 2026-11-03 00:00 UTC

Falling costs on acreage the operator unveiled early this year means “a geologic success is now turning into meaningful value,” CEO Van’t Hof told analysts. Plans call for up ...

Teams at Diamondback Energy Inc., Midland, have made enough progress on costs in the Barnett shale to encourage chief executive officer (CEO) Kaes Van’t Hof to shift to full-field development in the play.

Diamondback executives unveiled a 200,000-acre Barnett position in February and have since added 24,000 net acres there. The company’s costs in the area started the year around $1,000 per lateral ft drilled but have since moved nicely in the direction of Van’t Hof’s goal of $800. And with “nothing that scares me or scares the team from continuing to push on,” the CEO said Nov. 3 that plans now call for the development of up to five section developments by the end of February.

“What was once a geologic success is now turning into meaningful value for the company, and we’re moving into kind of full-field development,” Van’t Hof said on Diamondback’s third-quarter earnings conference call.

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