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Appalachian Operator Boosts Budget 71% for 2017; $1.26B, 95 Wells
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Rice Energy announced its 2017 capital budget and guidance.
Key Points: 2017 capex of $1.260 billion (up +71% from $735 for 2016) $1,035 million budget for drilling and completion activity in the Marcellus and Utica dry gas cores Drill 95 wells / Complete 75 wells Drill 75 / complete 55 Marcellus wells (average 8,500 feet, cost $7.4 million to develop ($875 per lateral foot), yield 18.4 Bcf EUR (2.16 Bcf/1000') and expected to generate 100% IRRs at strip pricing Drill and complete 20 Utica wells (laterals to average 10,500 feet (12% longer than 2016), cost $13.0 million to develop ($1,235 per lateral foot), yield 24.5 Bcf EUR (2.33 Bcf/1000') and expected to generate 80% IRRs at strip pricing $225 million land budget to secure core acreage in Rice's existing focus…- ✓ Full news archive — U.S., Canada & international coverage
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