Diamondback Sees 10% More Permian Oil Rigs by Year-End as War Boosts Prices

Diamondback Energy Inc., one of the biggest US shale producers, predicts that drillers will add as many as 30 rigs to America’s most prolific oil field by the end of the year as the Iran war sends crude prices soaring.

That would equate to a jump in activity of more than 10% over the next eight months, based on Baker Hughes Co. data showing 241 rigs in the West Texas and New Mexico basin as of last week.