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Extraction Q4 2017 Production Down 3%; Production Mix Changes
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Extraction Oil and Gas has detailed its preliminary Q4 2017 results. Oil production feel Quarter over Quarter 1% and Oil Production mix changed from 55% oil to 51% oil in Q4 2017. The company brought on 26 more wells in Q4 than Q3, which could only mean those wells had a higher gas cut. The company also provided an alternative explaination.
Extraction's Chairman and CEO Mark Erickson said: "We look forward this year to continuing the strong momentum we built during 2017. Of the 75 wells turned to sales during the fourth quarter, 59 came on during the back half of the quarter. These 59 wells contributed little to our fourth quarter production but have positioned us well as we entered 2018."
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