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Concho Grows Production 26% YOY; Plans More Large-Scale Projects in 2018
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Summary: Concho reported its Q3 2017 results. Q3 highlights include:
Q3 Production averaged 193.2 boe/d, up 26% from Q3 2016 Drilled 51 operated wells, completed 47 operated wellsProduction for the third quarter of 2017 averaged 193.2 thousand Boe per day (MBoepd), an increase of approximately 26% from the third quarter of 2016. Crude oil production for the third quarter of 2017 totaled 119.6 thousand barrels per day (MBopd), an increase of approximately 31% from the third quarter of 2016. Average daily natural gas production for the third quarter of 2017 totaled 441.6 million cubic feet (MMcf).
Concho expects average production of 200 to 204 MBoe/d (62% oil) in Q4 2017. Additionally, Concho expects that its capital expenditures will fall within the range of $1.6 to $1.8 billion for…
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