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Extraction Oil and Gas Increased Production 54% in 2016
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Extraction Oil & Gas, Inc. reported financial and operational results for the fourth quarter and full-year ended December 31, 2016.
2017 Outlook Expect full-year 2017 net sales volumes to average between 48-54 MBoe/d. Crude oil production expected to average 23-26 MBbl/d. Due to the lack of wells turned to sales since mid-September and shut-ins of offset wells related to completion activities during the first quarter of 2017, we estimate our first quarter average net sales volumes to be 31-33 MBoe/d. For the first quarter, we expect our LOE to be between $11.5 million and $12.5 million and our cash G&A to be between $10.5 million and $11.5 million. Operational Results During the fourth quarter of 2016, our aggregate drilling, completion and leasehold capital expenditures were…- ✓ Full news archive — U.S., Canada & international coverage
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