Drilling & Completions | Quarterly / Earnings Reports | First Quarter (1Q) Update | Drilling Activity | Drilling Program-Rig Count
Oasis' Q1 Williston Drilling Down -30% YOY; Delaware Ops Up 100%
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Oasis Petroleum Inc. reported its Q1 2019 results. Here are the highlights.
Q1 Summary
- Well Activity (net): Completed 9.2 wells -down -18% YOY
- Williston Basin: 7.1 net wells - down -30% YOY
- Delaware Basin: 2 net wells - up +100% YOY
- Rigs: 4.5 total rigs running
- Williston Basin: 2-3 rigs
- Delaware Basin: 2 rigs
- Q1 D&C Spending: $226.8 million
- Q1 Production: Total equivalent production averaged 91.7 MBOEPD - up +19% from Q1 2018
- Williston Basin production averaged 85.6 MBoepd and Delaware Basin production averaged 6.1 MBoepd during the first quarter of 2019. Oasis continues to expect volumes to range between 86.0 MBoepd and 91.0 MBoepd for the remainder of the year and the average oil production percentage to be approximately 72% over 2019 with 71% in the fourth quarter.
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