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7Gen Cuts D&C Costs -7% in Q3 to $11MM; Production Up +39%

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   |    Monday,November 27,2017

Seven Generations reported its Q3 2017 results.

D&C Costs Down

  • Drilling Cost Down -5% QOQ: 7G’s average drilling cost per well was $4 million in the third quarter of 2017, down from $4.2 million in the second quarter of 2017.
  • Completion Cost Down -8% QOQ: 7G’s average completion cost per well was $7 million in the third quarter of 2017, down from $7.6 million in the second quarter of 2017.
  • Total D&C Cost Down -7% QOQ: The total average drilling and completion cost per well was $11.0 million in the third quarter of 2017, down from $11.8 million in the second quarter of 2017.

Q3 Production / Activity

  • Production averaged 183,920 boe/d, up 39%, or 26 percent per share, from the third quarter of 2016, comprised of 59 percent liquids and a condensate-to-gas ratio of 128 barrels per MMcf.
  • With an average of seven drilling rigs running in the third quarter, Seven Generations drilled 18 wells, completed 25 wells and brought 39 wells on production. At the end of the third quarter, 7G had 56 wells in various stages of construction between drilling, completion and tie-in.

 

 

 

 

 



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