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Endeavor Ramps Up Rigs by 67% in Q1; Cuts Drill Times in Wolfcamp, Spraberry
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Endeavor Energy Resources reported its Q1 2018 results.
Highlights:- Net production averaged a company record 46.3 MBoe per day (74% oil) in 1Q 2018, a 28% increase year-over-year.
- Currently operating ten horizontal rigs versus an average of six during 2017
- Endeavor placed on production 19 gross (17 net) wells of which
15 were horizontal completions with an average lateral length of 9,199 feet (2 Spraberry, 5 Wolfcamp A and 8 Wolfcamp B horizontals) Average IPs / Cuts Drill TimesAverage IP 30 days rates for the first quarter completed horizontal wells was approximately 916 Boepd (88% oil).
Cycle time continues to improve in the Midland Basin where Endeavor managed to reduce spud to rig release drill time on horizontal wells on average to 23.6 days in 1Q18 which also included a…
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