Production | Capital Markets | Capex Increase | Capital Expenditure - 2017
As Q1 Results Impress, Operators Ramp Up 2017 Guidances, Capex
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Fresh off of favorable Q1 results, several companies have updated their guidances. Most companies updated either production or capital expenditures, but not usually both.
Cabot tested enhance completions and revealed that this test outperformed expectations. Given these results, the company increased its production growth guidance from 5-10% to 8-12% and its capital budget by $125 million, for a total spending of the year expected to hit $775 million.
Woodford-STACK-SCOOPNewfield's Q1 announcement revealed a monster well in the STACK with a 60-day average per 1,000' at 323 boe/d. This well helped the company exceed its mid-point domestic production for Q1. As a result, Newfield raised its 2017 production guidance from 144,000 boe/d to…
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