Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure | Capital Expenditure - 2017
Approach Ups Spending 200% for 2017; Production Continues to Fall
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Approach Resources detailed its 2017 guidance. The company is significantly increasing activity over 2016. It plan on running 1 rig in crockett county for the year which could see well count doubling to 12 up from 6 last year. It would seem the timing of the well completions will not be enough to grow production.
Guidance 2017 capex of $50 million to $70 million depending on commodity prices (up +200% from $20 million in 2016) Drilling Program : Rigs currently operating one (1) rig Drilling Program : Wells Planned 12 wells (this is our estimate, based on keeping 1 rig active for the entire year) Production Guidance is 11.8 Mboe/d vs (2016 of 12.4 Mboe/d) down -4%Operating Area
First quarter 2017 production is estimated to be approximately 11.3 MBoe/d. First quarter 2017…
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