Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Reserves | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2018
Northern Oil Ups Capex Over 30% for 2018; Expects 18% Production Growth
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Northern Oil reported its Q4 2017 results.
2018 Plans- 2018 Capex: $165-180 million (up +33% from $130 million spent in 2017)
D&C: $152-167 million Other: $13 millionNorthern is raising guidance and now expects 2018 total annual production to increase by 16 - 20% over 2017 levels, based on the expectation of adding between 20 and 22 net wells to production during the year.
Due to winter weather and the potential for road restrictions during the spring, net well additions are expected to be weighted to the second half of 2018.
Q4 2017 Highlights: Year-end 2017 proved reserve volumes increased 40% year over year from 54.1 MMBOE in 2016 to 75.8 MMBOE The SEC PV-10 value of year-end proved reserves increased 100% year over year Fourth quarter production increased 22% year over year and…- ✓ Full news archive — U.S., Canada & international coverage
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