BPX Energy to Boost Shale Output 8% to 500,000 boe/d in 2026
BPX Energy will increase U.S. shale production by 8% to 500,000 barrels of oil equivalent per day in 2026 and aims to reach 650,000 boe/d by 2030 using $800 million less capital. Diamondback Energy plans to maintain 2026 output flat at 500,000–510,000 barrels per day.
1. BPX Energy Plans Shale Production Ramp
Kyle Koontz, CEO of BPX Energy, announced plans to raise U.S. shale output by 8% to 500,000 boe/d in 2026, representing roughly 20% of BP’s global oil and gas production. The unit targets 650,000 boe/d by 2030 while reducing capital expenditure by $800 million compared with earlier budgets.
2. Implications for Diamondback Energy
Diamondback Energy is holding 2026 production guidance flat at 500,000–510,000 barrels of oil per day under a disciplined capital program. BPX’s aggressive expansion and lower capex may intensify competition for drilling resources and investor capital, potentially pressuring Diamondback’s market share and valuations.