Well Cost | Well Lateral Length | Drilling / Well Results | Top Story | Key Wells | IP Rates-24 Hour | Forecast - Production
Lilis' Latest Third Bone Spring Well Logs IP24 of 1,821 BOEPD; Reaffirms 2018 Exit Rate
Print
|
Lilis Energy reported that the Tiger #3H has reached the 24-hour initial production rate. The well targeted the Third Bone Spring.
IP 24 rate of 1,821 Boepd, including 801 Bopd (63% liquids, 44% oil), on a three-stream basis, equivalent to 239 Boepd per 1,000 ft.
The Tiger #3H was completed as a 7,634 ft. lateral with 38 stages using 200 ft. plug-to-plug spacing and approximately 1,847 lbs. of sand per ft.
- Decreased D&C cost for Bone Spring wells relative to Wolfcamp wells - The Bone Spring is a shallower target and requires one less string of pipe casing, with approximately $1.5-2.0MM in lower AFE costs per well compared to the Wolfcamp and provides attractive IRRs per well.
Reaffirms 2018 Exit Rate
The Company reaffirms its 2018 year-end exit rate production guidance of 8,000 net Boepd.
The Company's 2019 budget and guidance are expected to be provided in the first quarter of 2019 - The Company intends to manage its cash flow in order to minimize capital outspend and focus substantially all of its capital on drilling and completing wells in 2019. The Company's goal remains to be free cash flow positive by the second half of 2019. The recent borrowing base increase enhances Lilis' existing liquidity and provides additional capital to fund the Company's 2019 program.
More IP Rates-24 Hour News
Matador Resources First Quarter 2021 Results
Matador Resources Co. reported financial and operating results for the first quarter of 2021. Joseph Wm. Foran, Matador’s Chairman and CEO, commented, “On both our website and the…
Matador Touts Lower Wolfcamp-A IPs at Boros Pad; Hits 4,500 BOEPD (60% Oil)
Matador Resources Co. reported results from its first four Boros wells completed and turned to sales in its Stateline asset area in Eddy County, New Mexico. IP Results…
Today in Completions: DJ Basin Well Hits 1,400 BOEPD IP24 (82% Oil)
Upland Exploration, Inc. has reported a company record IP from its recently completed seven-well pad in the DJ Basin. In Weld County, CO, Upland's Little Lady 22-1NH well…
Permian Basin Well Results - July 15 - 22, 2020
Back by popular demand, our weekly well results. Notable Well Results. HighPeak Energy OLDHAM 38-27 B well pad were somewhat disappointing, where the best well flowed 577 bbls…
Eagle Ford Well Results - July 21 2020
Back by popular demand. Today we resume providing weekly basins well results. You can get access to well results by going here. (requires a subscription)
Permian News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
Apa Corp : Doing More With Less
APA's 2025 narrative was one of operational surprise. The company came in beating production guidance every single quarter while spending below plan, capturing over $300MM in cost savings…
Permian - Delaware Basin News
Permian Resources to Grow Production 6% in 2026
Permian Resources exited 2025 as the largest pure-play Delaware Basin operator with ~480,000 net acres and >105,000 net royalty acres. The company averaged 392.6 MBoe/d in 2025, including…
Battalion Oil Closes ~$60M West Quito Draw Asset Sale
Battalion Oil Corporation has closed the sale of its West Quito Draw assets in the Southern Delaware Basin to MCM Delaware Resources LLC, a subsidiary of MCM Energy…
Deal Rumor: ConocoPhillips Exploring $2B Permian Asset Sale
ConocoPhillips is reportedly exploring the potential sale of certain Permian Basin assets in a transaction valued at approximately $2 billion, according to Reuters, citing sources familiar with the…
This Operator Will Chop it's 2026 Rig Count From 34 to 24
ConocoPhillips is setting up 2026 as a lower-intensity, more efficient operating year — with the clearest proof coming from the Lower 48 activity reset following the Marathon integration.…
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…