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Energen Increases Production Guidance Despite Low Oil Price
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[Summary: At the 2017 JP Morgan Energy Equity Conference, Energen's James McManus reported that Energen's Gen3 wells helped the company outperform Q2 production guidance by 10,000 boe/d.
As a result, the company increased its production guidance to 70.2 mboe/d, or 5.9% overall.]
Energen's Q2 production outperformed the guidance by 10,000 boe/d from wells using Gen3 Technology, which uses increased proppant and tighter stage and cluster spacing. In the Midland, Delaware and Central Basins, the Gen3 wells outperformed type curves. Most notable, is the 77% oil that company has produced from the Central Basin Gen3 wells. As a result of Q2 production results, the company increased its production guidance to 70.2 mboe/d (64% oil, 17% NGL, 19% gas), or 5.9%. As Gen3 continues its high…
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