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Extraction Sees Massive Production Growth From New Completions
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Extraction detailed preliminary Q2 2017 results. Highlights include:
As a result of the amount of wells turn the sales, the company saw massive production growth quarter over quarter of 10,000 boe/d. We turned to sales 67 gross (62 net) wells with an average lateral length of approximately 7,100 feet which included DUCs. Completed 51 gross (46 net) wells with an average lateral length of approximately 7,300 feet.
Spudded 41 gross (25 net) wells with an average lateral length of approximately 10,100 feet (this is 40% higher than its previous average lateral of 7,200')
Preliminary estimated net income between $4.0 to $4.2 million. Preliminary estimated average net sales volumes were between 43.3 and 45.1 MBoe/d. Extraction estimates during the second quarter, its aggregate drilling…
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