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Gastar Cuts Drill Times by 42% in Q3; 11 Days Spud-to-TD
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Gastar reported its Q3 2017 results. Highlights from its call / release include:
Average daily production of 6,200 BOEPD (72% liquids) Expects to continue drilling with one rig going into 2018 Drill Time Improvement:Gastar has made improvements in its drill time across the Midcontinent region, cutting total time by 42% in 2H 2017.
The company is currently averaging a drill time of 11.1 days (compared to 19.2 days in 1H 2017).
J. Russell Porter, Gastar's President and CEO, commented, "Following an initiative to re-evaluate operating practices in order to optimize well results while also reducing drilling and completion costs, we have made numerous operational refinements that appear to be having a positive impact. We have reduced the average number of days needed to drill a well…
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