Diamondback Eyes Natural Gas to Generate Power in Oil Patch
- Permian Basin explorer aims to meet electrification demands
- Company also looking at using small nuclear reactors for power
A Diamondback Energy Inc. oil rig in Midland, Texas.
Photographer: Callaghan O'Hare/BloombergThis article is for subscribers only.
Diamondback Energy Inc., one of the Permian Basin’s biggest oil companies, is considering using some of the natural gas it produces to generate electricity to run drilling and fracking operations.
Permian producers have increasingly shifted operations from diesel generators to electricity supplied by the local power grid. But the Texas grid can be unreliable at times, especially in remote parts of the oil patch.