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Concho's Rig Count Up 30% from Prior Quarter; More Completions in 4Q
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Concho Resources reported financial and operating results for the third quarter of 2016.
Key Points:30% More Rigs in Q3 from Q2
Q3 Rigs - Averaged 17 rigs in Q3, compared to 13 rigs in the second quarter of 2016 (+30%)Will Complete 40% More Wells in Q4 than Q3
The Company expects to complete 60 to 70 gross wells during the fourth quarter of 2016, as compared to 46 gross completions in the third quarter of 2016.Q3 Drilling Activity
Highlights: Delivered quarterly production of 14.1 million Boe, or 152.9 MBoepd, exceeding the high end of the Company's guidance. Achieved record 30-day production rates in the Company's northern Delaware and southern Delaware Basin assets and record average lateral lengths in each of the Company's key operating areas. Raised full-year 2016 production…- ✓ Full news archive — U.S., Canada & international coverage
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