Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Financial Results | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Activity | Capital Expenditure - 2018
Approach Ups Capex +25% for 2018; Talks 2017 Drilling, Production
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Approach Resources has detailed its 2018 outlook as well as its Q4 / full year 2017 results.
2018 Plan- 2018 Capex: $50-70 million (up +25% from $48 million spent in 2017)
- 2018 Production: 4,200-4,500 MBOE (or 11.5-12.3 MBOEPD) (up a slight +4% at the midpoint from 4,200 MBOE at year end 2017)
No drilling / well plans were released.
2017 Highlights Drilled 13 horizontal Wolfcamp wells during 2017 Full year production of 4,232 MBoe or 11.6 MBoe/d, above the midpoint of annual guidance Year-end 2017 proved reserves 181.5 MMBoe, an increase of 16% over the prior year Type curve updated to 700 MBoe EUR, an increase of 37% Drilled 13 and completed nine horizontal Wolfcamp wells during the year with an inventory of 10 drilled and uncompleted wells at year-end Reserve replacement…- ✓ Full news archive — U.S., Canada & international coverage
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