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Memorial Resource Development Talks 2016 Capex, Plans
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Memorial Resource Development Corp. announced an operational update, year-end 2015 reserves, 2016 financial and operational guidance, updated horizontal drilling locations and hedge restructure.
Key Points: 2016 Capital (Estimate) : $325-375 million capital budget Rigs Plan To Operate : During 2016, MRD expects to operate an average of approximately 4 drilling rigs in North Louisiana, which compares to 8 operated rigs currently. Wells Plan To Drill (Spud) : MRD expects to spud 15 to 20 gross wells in 2016. Wells Plan To Complete : MRD expects to complete 30 to 35 gross wells during the year, including delineation of MRD's recently acquired acreage position. Production 2016 (Guidance) : Project 2016 daily production to average between 390 to 420 MMcfe/d Highlights include:Operational…
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