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EP Energy Resumes Wolfcamp Drilling; Suspends Eagle Ford
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EP Energy Corporation reported second quarter 2016 financial and operational results.
Key Points: Eagle Ford Completions Down 80% YOY to 8 wells down from 42. Eagle ford production was 27.3 MBbls/d of oil, a 34 percent decrease from Y2-2015. Permian : the company completed 5 wells in late June in its Wolfcamp program and produced 6.8 MBbls/d of oil, down 24 percent from the same period in 2015. Company decided to add a rig in May to continue drilling the wolfcamp. Wolfcamp Well Cost Improvement Second quarter 2016 results 45.1 thousand barrels of oil production per day (MBbls/d) Restarted Wolfcamp drilling program Financial Improvement Substantially improved hedge position Executed additional open-market repurchases of outstanding debt Amended University Lands development agreement…- ✓ Full news archive — U.S., Canada & international coverage
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