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Eclipse Drills Massive 18,500' Lateral in the Utica; Reins in Production in 1Q
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Eclipse Resources Corporation announced its first quarter 2016 financial and operational results, second quarter and full year 2016 guidance, and provided an update on its extended reach lateral well.
Key Points: During the quarter, the Company drilled its "Purple Hayes" Utica well with a lateral extension of over 18,500 feet in under 18 days. Subsequent to quarter end, the Company completed the well with 124 frac stages, averaging 5.3 stages per day, finishing with a total estimated D&C cost of approximately $854 per lateral foot. The Company believes this is the longest, horizontal, onshore lateral ever drilled in the United States. Purple Hayes IP Rate - 5.0 MMcf per day of gas, which we expect is approximately 1,300 BTU gas, and 1,200 barrels a day of condensate with flowing tubing…- ✓ Full news archive — U.S., Canada & international coverage
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