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Approach Restarts Completion Activity; Wolfcamp Wells Outperforming
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Approach Resources Inc. reported results for second quarter 2016.
Operations UpdateDuring second quarter 2016, we completed two horizontal wells, one well in the Wolfcamp B bench and one well in the Wolfcamp C bench. The average IP rate was 861 Boe/d (59% oil and 82% liquids) with an average completed lateral length of 6,541 feet. At June 30, 2016, we had seven horizontal wells waiting on completion. We plan to complete three wells in third quarter 2016, and expect third quarter production to average around 11.9 MBoe/d.
Average initial production (IP) for two wells completed late second quarter was 861 Boe/d (59% oil and 82% liquids), or 987 Boe/d when normalized to a 7,500’ lateral Production was 12.6 MBoe/d, exceeding prior guidance for the quarterRoss Craft, Approach’s Chairman and…
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