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Chaparral 3-Rig Drilling Program; Touts 30-Day STACK Well Rates
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Chaparral Energy 1Q18 quick read.
Grew STACK production by 50% on a year-over-year basis to 12,289 barrels of oil equivalent per day (Boe/d)
Operated 3 rigs and brought online six new gross operated wells
Brought online six new gross operated wells, one of which was part of its joint venture drilling program, with an average three-stream peak 30-day initial production (IP) rate of 785 Boe/d, of which 75% was liquids
Closed on the previously announced 7,000-acre, bolt-on STACK Play acquisition in Kingfisher County, Oklahoma in January 2018.
Total capital expenditure was 101.8 million, including $65.8 million associated with STACK acreage and seismic acquisitions, of which $55 million was associated with the company’s previously announced bolt-on Kingfisher County acquisition. Chaparral…
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