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Birchcliff Energy Reported Top Montney Well Results; 1097 Boe/d; Production Growth
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Birchliff Energy reported its 2Q 2018, of note is the top wells the company sported.
Highlights Production averaged 76,296 boe/d in the second quarter of 2018, an 18% increase from 64,636 boe/d in the second quarter of 2017. Production consisted of approximately 80% natural gas, 7% light oil and 13% NGLs in the second quarter of 2018, as compared to 77% natural gas, 11% light oil and 12% NGLs in the second quarter of 2017. Light oil and NGLs production in the second quarter of 2018 increased 16% as compared to the first quarter of 2018. Birchcliff expects that its total debt at year-end 2018 will be materially lower as compared to June 30, 2018, as approximately 78% ($199.6 million) of its budgeted $255 million capital expenditure program for 2018 (the “2018 Capital Program”) was spent…- ✓ Full news archive — U.S., Canada & international coverage
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