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DJ Basin E&P Ups Proppant Levels 13% from Q2; Will Drill 15 Wells in Q4
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Bill Barrett reported third quarter of 2016 financial and operating results.
Key Points:XRL Drilling Resumes; 15 Wells Planned / 5 Completions
The XRL drilling program resumed in September and 6 wells have spud, including 3 wells that spud in October. Current plans are to drill up to 15 wells and complete 5 of the wells during the remainder of the year. Well costs expected to average $4.25 million per well, which incorporates an increased proppant loading of ~1,350 pounds of sand per lateral foot (up 13% from Q2 2016). Highlights: Production sales volumes of 1.6 MMBoe (65% oil) DJ Basin oil price differential narrowed to $2.21 per barrel, representing a 54% sequential improvement from the second quarter of 2016 LOE averaged $3.06 per Boe, representing a 42% sequential improvement…- ✓ Full news archive — U.S., Canada & international coverage
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