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Operator IDs 2016-2017 Best Case; Cuts Utica Ops in Favor of Wattenberg
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At the IPAA OGIS Conference PDC Energy unveiled its three-year plan, IDing its best case scenario forecasts for 2016 and 2017. This includes cutting Utica operations in favor of the Wattenberg.
Production: 2015: ~40,000 BOE/d 2016: ~50,000 to 55,000 BOE/d 2017: ~65,000 BOE/d Rig Count: 2015: 5 rigs 2016: 4 rigs 2017: 4-5 rigs Capex: 2015: $550 million 2016: $450 million 2017: $500 millionEnlarge Image
Changes in Best CasePDC has updated its best case scenario, which now focuses on completing a lower number of wells than initially planned.
2016 Wells Planned: ~143 spuds/4 rigs (original estimate: ~157.5 spuds/6.5 rigs)
2017 Wells Planned: ~140-175 spuds/4-5 rigs (original estimate: ~189 spuds/8 rigs)
None of the 2017 spuds will be targeting the Utica play.
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