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Athlon Energy IDs 2014 CapEx; Talks Rig Activity
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Athlon Energy Inc.'s Board of Directors has approved a 2014 capital budget for drilling expenditures of $595 million.
The Board has also approved an additional $20 million for leasing, infrastructure, and capital workovers. For 2014, Athlon expects drilling & completion costs per vertical well to remain unchanged from 2013. The budget represents an increase to the Company’s expectations at its initial public offering due to operational outperformance leading to incremental activity, higher average working interests of 95% vs. 92% previously, and additional drilling capital for today’s announced acquisition.
The Company will operate eight vertical rigs and expects to drill a total of 205 gross operated vertical wells. Athlon also expects to drill 21 gross operated horizontal wells during…
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