Diamondback CEO says hard to see oil output growth at $60 a barrel

By Arathy Somasekhar

HOUSTON, Oct 1 (Reuters) - U.S. oil production growth will stall if oil prices hover around $60 per barrel, as the industry runs out of good quality acreage to drill, the chief executive officer of one of the top oil producers, Diamondback Energy FANG.O, said on Wednesday.

"There's only so much Tier 1 rock," Kaes Van't Hof said while speaking at an energy conference in Austin, in a reference to the best drilling locations. "That means that it's going to be hard to see growth at $60 oil. And at $50, I think that's an even harder story."