Well Lateral Length | Quarterly / Earnings Reports | First Quarter (1Q) Update | IP Rates-30-Day | Initial Production Rates | Drilling Activity | Drilling Program-Rig Count
Concho Touts Record IP30s, Lateral Length in N. Delaware; 20 Active Rigs
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Concho Resources reported its Q1 2018 results.
Highlights:- Q1 2018 production of 228 MBOEPD (up +26% YOY and up +8% from 4Q17)
Increased crude oil production volumes by approximately 14 MBopd, or 11%, quarter-over-quarter to 144 MBopd. Raised full-year 2018 production growth outlook to a range of 18% - 20% and maintained capital expenditure guidance. Concho's outlook excludes the RSP Permian transaction. Drilling Activity / ResultsAchieved record IP30s in the Northern and Southern Delaware Basin assets and set a Company record average lateral length in the Northern Delaware Basin
Record Avg Lateral: 8,544' (N. Delaware) Record Avg IP30: 1,993 BOEPD (N. Delaware) / 2,070 BOEPD (S. Delaware)During first-quarter 2018, Concho averaged 20 rigs, compared to 16 rigs in fourth-quarter…
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