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Bakken E&P to Nearly Double Spending in 2017; Adds Rig
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Enerplus reported results from operations for the third quarter of 2016 and preliminary 2017 outlook.
2017 Outlook: Preliminary outlook for 2017 capital is $400 million, with approximately 70% ($280MM) targeted for development in North Dakota. This compares to a 2016 capex of $215 million. Secured second drilling rig for North Dakota Increased its average 2017 crude oil hedge position to 17,500 barrels per day. Highlights: Third quarter production averaged 92,077 BOE per day, with 42,598 barrels per day of liquids 25% reduction in third quarter operating expenses per BOE compared to the same period in 2015 Positive initial results from recent Fort Berthold high density test, with average production tracking above type curve expectations Preliminary 2017 capital budget of $400…- ✓ Full news archive — U.S., Canada & international coverage
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