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Laredo Supersizes Laterals to 15,000' in Q3; Ups Proppant, Tightens Spacing
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Laredo reported its Q3 2017 results. Highlights include:
Increased 2017 Capex: $630 million (up +19% from $530 million originally planned) - increased due to service cost inflation ($7.7 million base well cost) and additional completions testing Production Record: 60,011 BOEPD, up 17% YOY 15 new horizontal wells put online in Q3 Currently operating four rigs Midland Basin Activity New 15,000' Laterals: Laredo drilled three wells with 15,000' laterals in Q3. The company currently has approximately 500 land-ready locations in its high-return Upper and Middle Wolfcamp formations that can be developed with 15,000-foot laterals. More Proppant, Tighter Spacing Boost Type Curves: Laredo completed 22 wells using 2,400 pounds of proppant per foot and the wells are currently outperformin…- ✓ Full news archive — U.S., Canada & international coverage
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