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Amplify IDs 2018 Budget, Guidance; Bets Bulk on Cotton Valley
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Amplify Energy has detailed its 2018 plans as well as its Q4 and full year 2017 results.
2018 Plans- 2018 Capex: $65-80 million (relatively flat from 2017's $75 million)
East Texas (Cotton Valley / Haynesville): $52-64 million Eagle Ford: $4.5-5.6 million Other: $8.5-10.4 million- 2018 Production: 169-187 Mmcfe/d (compared to 184.3 MMcfe/d at year-end 2017)
Other details of the 2018 capital spending program are below:
2017 Highlights Increased daily production 4% to 184.3 MMcfe/d, in-line with quarterly guidance Increased reserves: 2017 year-end proved reserves of 990 Bcfe, an increase of approximately 8% compared to 2016 year-end proved reserves Reduced debt: As of March 5, 2018, Amplify reduced net debt to $340 million, inclusive of $17 million of cash on hand, from $371 million…- ✓ Full news archive — U.S., Canada & international coverage
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