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Concho Adding More Rigs, Completion Crews in 2H18; Talks Latest IPs
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Concho Resources reported its Q2 2018 results.
Increasing Rig Count / More Completion CrewsAs of Q2 2018, Concho is averaging 21 rigs and six completion crews.
For 2H18, Concho plans to run an average of 32 rigs and 10 completion crews (up +52% and +67%, respectively).
Delaware Four-Well Project ImpressesConcho recently completed a four-well development project, the Columbus, targeting the Wolfcamp A zone with long-laterals. The average per well 30-day peak rate for the Columbus project was 3,163 Boepd (77% oil) from an average lateral length of approximately 9,550 feet.
Midland - Latest IP30s / IP60sIn the Midland Basin, Concho added 21 wells with at least 60 days of production as of the end of second-quarter 2018. The average 30-day and 60-day peak rates for these wells were 1,294…
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