Forecast - Production | Drilling Activity
Northern Oil Ups 2018 Production Guidance as Q1 Output Increases
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Northern Oil has upped its 2018 production guidance after reporting its estimates for Q1 2018 output.
- Expecting first quarter 2018 average daily production to increase by 5% to 6% over fourth quarter 2017, a sequential increase of nearly 1,000 barrels of oil equivalent per day
- Raising full year 2018 production guidance; now expecting average daily production to increase by 18% to 22% to at ~20,000 BOEPD the midpoint over 2017 (which saw 16,742 Boe per day at year end), compared to prior guidance indicating a 16% to 20% increase
Northern added a total of 3.6 net wells to production in January and February; continues to expect to add between 20 and 22 net wells to production during 2018.
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