Exploration & Production | Capital Markets | Capital Expenditure
Argent Aims $41MM CapEx at Austin Chalk, Eagle Ford
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Argent Energy Trust has reported an operational update and Argent's 2013 budget, including forecast capital program and production guidance for this year.
2012 Exit Rate Target ExceededArgent exited the year at approximately 3,700 boe/d, excluding the Wapiti acquisition, about 100 boe per day above the year-end guidance target of 3,500 to 3,600 boe per day. This includes production from five Austin Chalk wells and two Eagle Ford wells drilled and completed (100% success) since the IPO in August. The Austin Chalk wells are performing as expected in total with some wells performing significantly above type curve (requiring jet pumps for high volume throughput), and other wells performing at the lower end of the range for an overall average well rate and return in line with expectations…
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