Quarterly / Earnings Reports | First Quarter (1Q) Update | Initial Production Rates | Drilling Activity
PDC Ups Oil Output 51% to 3.8 MMBbls; Awaiting IPs from Q1 Delaware Basin Wells
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PDC Energy reported its Q1 2018 results.
Highlights:
- Q1 2018 production of 99 MBOEPD (up +34% YOY and up +14% from 4Q17)
- YOY oil production increase of 51% to 3.8 million barrels (MMBbls), representing 43 percent of total production.
Drilling Update
Delaware Basin
- Spud 8 wells / TIL 7 wells in Q1
The wells, which include a mixture of Wolfcamp A and B, standard- and mid-reach laterals, have yet to reach peak production, and are currently averaging approximately 1,150 BOEPD (55% oil).
Wattenberg
- Spud 35 wells / TIL 29 wells in Q1
No well results were reported.
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