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Gastar Cuts Drill Times 36% in 2017; Touts 4,000 BOEPD in STACK Production
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Gastar reported its Q4 and full year 2017 results.
Well Costs Down:- Successful drilling optimization program reduced days to drill by 36% from first half of 2017
Stephen Roberts, Senior Vice President and Chief Operating Officer, commented, "The new drilling and completion techniques that we implemented continue to produce positive results. As compared to the first half of 2017, we have seen a reduction in the number of days to drill a well from 19.4 to 12.4 days and reduced completion days from seven to four. Based on efficiency improvements, our current cost per well is expected to be approximately $4.5 million for Osage wells and $4.7 million for Meramec wells. Production Highlights: Average daily production of 6,900 BOEPD, a 17% increase over fourth quarter 2016 and an 11%…- ✓ Full news archive — U.S., Canada & international coverage
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