Quarterly / Earnings Reports | Proppant | Third Quarter (3Q) Update | Production Rates | Capital Markets | Drilling Program - Wells | Drilling Activity | Capex Increase
Extraction Adds $80 Million to 2017 Budget; 14 New Wells Planned
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Extraction reported its Q3 2017 results. Highlights include:
- Q3 Production: 62,884 BOEPD
- Increased 2017 Budget: Revised budget of $865 and $885 million, which represents an $80 million increase from the midpoint of its previous budget ($735-855 million). This is related to the company's plan to spud an additional 14 net wells before year-end.
- Turned to sales 30 gross (27 net) operated wells (average lateral length of ~7,900 feet), and completed 51 gross (34 net) wells (average lateral length of ~10,300 feet)
- Completed 3,053 total stages during the third quarter while pumping approximately 965 million pounds of proppant
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