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Extraction Drills 198 Wells in 2017; Averages 8,000' Laterals
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Extraction Oil & Gas reported its Q4 and full year 2017 results.
Highlights: Fourth quarter average net sales volumes of 66,134 BOE/d including 33,674 barrels per day (Bbl/d) of crude oil and full-year 2017 average net sales volumes of 51,764 BOE/d including 26,284 Bbl/d of crude oilFor the fourth quarter, Extraction reported a net loss of $30.6 million, or $0.20 per basic and diluted share1, compared to a net loss of $245.6 million for the same period in 2016 and net loss of $29.8 million for the third quarter of 2017. Operational Results
During the fourth quarter, Extraction reached total depth on 45 gross (37 net) wells with an average lateral length of approximately 7,000 feet, completed 42 gross (26 net) wells with an average lateral length of approximately 7,500 feet and turned…
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