Well Cost | Production Rates | Forecast - Production | Capital Markets | Capital Expenditure | Private Equity Activity
Operator Plans 117 Wells In 2016; Production To Fall
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EP Energy 2016 Capex and Drilling Plans:
2016 Outlook $500 million to $900 million oil and gas expenditures, lowered from December estimate of $1.0 Billion 91 MBoe/d to 97 MBoe/d total production vs FY-2015 (109.7 Mboe/d) 45,000 to 50,000 barrels of oil per day vs (FY-2015 Oil production 60.5 Mbo/d) Substantially all of 2016 estimated oil production volumes hedged at an average price of approximately $80 per barrel of oil Expecting full year average well costs to be approximately 10 to 15 percent lower than 2015 Hedge Program UpdateIn 2015 EP Energy realized $942 million from settlements on financial derivatives. At year-end 2015, the MTM value of the company's hedge positions was approximately $800 million. EP Energy has effectively hedged all of its expected oil production for 2016…
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Gulf Coast - South Texas News
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