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Legacy Reserves Talks Q2 Production, Increased Laterals; Commences Martin County Ops
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Legacy Reserves LP reported its Q2 2018 results.
Production Up +13% YOY
- Q2 production of 47.5 MBOEPD (up +13% YOY and up +3% from 1Q18)
- Oil production of 17.9 Bbls/d (up +4% from 1Q18)
Increased Laterals by +58% / Commenced Martin County Drilling
The company reported that it has increased lateral lengths for 3 of its core Midland Basin tracts by +58%, resulting in an increase in net lateral footage by 45,000'.
Q2 Activity Summary:
- Commenced Wolfcamp drilling in Martin County and began preparing surface locations ahead of a rig move into Midland County
- Brought 9 Permian horizontal wells online during the quarter, bringing the total to 29 Permian horizontal wells brought online year-to-date
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