Drilling & Completions | Quarterly / Earnings Reports | First Quarter (1Q) Update | Drilled Uncomplete (DUC) | Drilling Activity | Drilling Program-Rig Count
Lilis Brings DUCs Online, Gets Oilier Q1; May Add Another Rig in 2H19
Lilis Energy reported its Q1 2019 results.
Gets +52% Oilier in Q1; May Add Another Rig in 2H19
- Q1 Production: 6,058 BOEPD (up +75% YOY / Oil production up +52% YOY)
- Oil production of 3,530 Bop/d, above the mid-point of Lilis guidance range of 3,400 -3,600 Bop/d
- NGL production of 827 Bbls/d compared to guidance of 800-1,000 Bbls/d
- May Add Another Rig in 2H19: Favorable commodity prices and attractive contract pricing provide the Company with increased flexibility to add another rig in the second half of 2019
Brings DUCs Online; Zipper Fracs Pay Off with Strong Results
The Company had six DUCs at year-end 2018. During the first quarter of 2019, the Company brought on the Oso #1H, which is currently in flowback, and completed the Haley #1H and Haley #2H in early April.
Both Haley wells utilized zipper frac completions and have seen some of the Company's most encouraging results to date.
Flowback:
- Oso #1H Target: Upper WC A
- Haley #1H Target: Lower WC A
- Haley #2H Target: Upper WC A
Completing:
- NE Axis #2H Target: Lower WC A. Frac completed, 43 stages, 1.5 mile lateral
- NW Axis #2H Target: Lower WC A
- Kudu A #2H Target: Lower WC B. To be zipper frac stimulated, when Kudu B #2H is drilled and cased, will be a dual frac completion with the Kudu B #2H
- Ox #1H Target: Upper WC B. Preparing for stimulation
Drilling:
- Kudu B #2H Target: Upper WC B. Setting 2nd Intermediate at 12,529 ft MD, on schedule for TD of 20,496 ft MD.
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