Operational Updates | Drilling & Completions | Well Lateral Length | Quarterly / Earnings Reports | Third Quarter (3Q) Update | Initial Production Rates
Approach's Wells Average 6,600' Laterals, 931 BOE/d in 3Q
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Approach Resources Inc. reported results for third quarter 2015.
Key Points: During third quarter 2015, we drilled four horizontal wells, completed five horizontal wells, and at September 30, 2015, we had four horizontal wells waiting on completion. The average initial production (IP) rate for all wells completed since our last report was 931 Boe/d (65% oil and 84% liquids) with an average lateral length of 6,600 feet. Highlights: Record quarterly production of 1,525 MBoe, or 16.6 MBoe/d, a 17% increase over the prior-year quarter and a 10% increase over second quarter 2015 EBITDAX was $30.7 million, or $0.76 per diluted share Revenues totaled $33.9 million. Including realized hedge gains, revenues were $46.7 million Per-unit cash operating expenses decreased 18% from the prior-year…- ✓ Full news archive — U.S., Canada & international coverage
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