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Amplify Restarts East TX Drilling in Q2; Plans to Market Eagle Ford Properties
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Amplify reported its Q2 2017 results. Highlights include:
- Engaged Jefferies LLC to evaluate strategic alternatives and launched process to divest non-core Eagle Ford and South Texas properties.
Eagle Ford:
- Contiguous position of ~750 net leasehold acres in the core of the Eagle Ford in Karnes County, Texas
- Q2 net production of 1,400 Boe/d (76% oil)
South Texas:
- 70,000 net acres in the heart of the prolific Wilcox and Lobo trends
- Q2 2017 net production was 17 MMcfe/d (82% natural gas)
East TX Drilling Restart
- One rig running
- Re-initiated drilling program in East Texas focused on the horizontal development of Cotton Valley and Haynesville Shale formations, targeting 7 wells to be spud before year-end 2017
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