Quarterly / Earnings Reports | Production | First Quarter (1Q) Update | Initial Production Rates | Capital Markets | Drilling Activity | Capex Increase | Well EUR
Energen Ramps Up 2017 Capex by $62.5 Million as Gen 3 Wells Outperform
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Energen reported its Q1 2017 results. Highlights from its presentation / release include:
Favorable returns from Energen's Gen3 test wells caused the company to increase its capital expenditure guidance by $60-65 million to $850-$900 million (up from $790 million) Actual production from Q1 exceeded Energen's guidance for oil by 6%, gas by 9%, and NGL by 2%. Additionally, in the Delaware, production exceeded guidance by 13% and in the Midland by 4% (for actual numbers see below charts) Energen had 5 new Wolfcamp A and B wells in the Midland averaging ~15% above the high end 1.3 mmboe type curve, as illustrated in the below graph. Additionally, production from 2 new Wolfcamp A and B wells in the Delaware averaged ~80% above the high end 2 mmboe EUR type curve, with an average lateral…- ✓ Full news archive — U.S., Canada & international coverage
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