Oct 10 (Reuters) - Diamondback Energy ( FANG ) on

Thursday signaled lower prices for its third-quarter oil and gas

production, making it the third U.S. shale producer to do so in

just a week.

Oil prices declined in the July-September quarter due to

concerns about global oil demand growth.

Meanwhile, U.S. natural gas prices have collapsed to

multi-year lows in 2024, with prices in the Waha hub

in West Texas turning negative a record number

of times.

Diamondback said average hedged realized prices for the

third-quarter oil production were $72.32 per barrel, down from

$78.55 in the second quarter.

The company realized 60 cents per thousand cubic feet (Mcf)

of natural gas sales after hedging in the three months ended

Sept. 30, compared with $1.03 per Mcf in the April-June period.

However, it realized a loss of 26 cents Mcf of unhedged

natural gas sales during the third quarter.

Diamondback's warning comes just a day after Occidental

Petroleum ( OXY ) flagged lower prices for its production.

Industry bellwether Exxon Mobil ( XOM ) warned last week that it

could take a hit of up to $1 billion to its upstream profits.

The company reported a non-cash gain of $135 million from

derivatives during the third quarter, compared with a non-cash

gain of $46 million in the prior quarter.

Earlier this month, Diamondback had raised its third-quarter

production forecast to reflect the $26 billion acquisition of

Endeavor Energy.

It expects to produce between 565,000 to 569,000 barrels of

oil equivalent per day in the quarter.