Diamondback exec predicts slowing crude oil production

Diamondback Energy founder Travis Stice reflects on a decade as public  company


The top man at Diamondback Energy, Travis Stice, is predicting the nation’s shale industry will continue struggling to expand production.

During an earnings call Tuesday in Midland, Texas, where the company is headquartered, Stice also said costs of new shale wells will also rise. What’s behind the lag in production? He blames the aging of oil and gas wells, supply chain bottlenecks and investor focus on shareholder returns reported Reuters.

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