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Armed with Strong Hedge Books and Lower D&C Costs, Companies Not Slowing Down Despite Low Oil Price
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Q2 results will not be out for another month and there's great speculation as to how companies will respond to the falling oil price. Last week, at the JP Morgan Energy Equity Conference, companies answered questions about how they will respond if these lower oil prices persist.
Armed with strong hedge books and lower D&C costs, most companies do not anticipate much slow down in 2017. Each company, however, has a back up plan just in case prices remain low for longer than anticipated.
Murphy
Murphy intends on keeping its Eagle Ford capital budget unchanged for the remainder of 2017. The company will continue to run 3 rigs in the Eagle Ford and test wells Austin Chalk. Murphy has focused on drilling longer laterals and using increased proppant, which has increased its well performance…
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