Company boosts forecast for 2016 output by 6 percent Company to see $350 to $425 million in capital spending Diamondback Energy Inc. rose the most since 2013 after the oil and natural gas explorer increased its 2016 production outlook in a preview of third-quarter results. The Midland, Texas-based company raised its guidance for this year to a range of 41,000 to 42,000 barrels of oil equivalents per day, up 6 percent from the July guidance, according to the preliminary earnings report released Monday. Investors responded by boosting shares as much as 11 percent to $105.27 in New York. Diamondback Energy focuses on developing and exploring onshore oil and gas reserves in the Permian Basin in West Texas, which has proved to be one of the most economic basins during the market downturn. The company said it intends to finish 65 to 70 horizontal wells this year. “We are now […]