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Energen Adding to DUCs in 2H16; More Proppant, Tighter Spacing
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For the 3 months ended June 30, 2016, Energen Corporation reported GAAP net income from all operations of 36.8 million, or $0.38 per diluted share.
Key Points: Drilling of 54-58 net DUCs in Delaware and Midland basins under way New Completion Design for 2016, 2017 More Proppant Tighter Spacing Highlights: Positive response to upsized (MB Generation 2) completions continued in Midland Basin Total 2Q16 production increased 7% from 1Q16; sequential growth in oil production of 8.5% 2Q16 production from Midland Basin horizontal wells increased 22% from 1Q16 CY16 production guidance midpoint raised approximately 2%, or 900 boepd 2Q per-unit LOE and SG&A declined 20% and 39% YoY, respectively 2016 per-unit LOE guidance midpoint lowered 11% Capital efficiency improvements…- ✓ Full news archive — U.S., Canada & international coverage
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