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US shale producer Diamondback Energy FANG.O on Tuesday raised its production forecast for the third quarter to a range of 319,000 to 321,000 barrels of oil per day.
This forecast compares with its previous forecast of 271,000 to 275,000 barrels of oil per day.
Diamondback said it had updated its guidance to reflect its $26 billion acquisition of Endeavor Energy ( ), which closed in September.
The transaction, announced earlier this year, makes Diamondback the third largest oil and gas producer in the United States’ main shale play, the Permian Basin of West Texas and New Mexico. which places it just behind major companies Exxon Mobil XOM.N and Chevron CVX.N .
Diamondback also raised its third-quarter capital spending guidance to $675 million to $700 million, up from a previous forecast of $570 million to $610 million.
