Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Quarterly / Earnings Reports | First Quarter (1Q) Update | Financial Results | Capital Markets | Drilling Activity

Panhandle Ramps Up Output 36% to 37.2 Mmcfe/d; Talks Near-Term Drilling Plans

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Friday,February 09,2018

Panhandle Oil and Gas reported its fiscal Q1 2018 results.

Highlights:

  • First quarter 2018 production increased 4% over the previous quarter to 37.2 Mmcfe per day, a 36% increase as compared to the 2017 quarter.

Drilling Activity Outlook

  • A total of 13 wells are currently being drilled on our mineral holdings in Oklahoma. We have a royalty interest in 10 of those wells, a working interest in one and have not yet elected on the remaining two. Seven of the wells are in the STACK/Cana area, five are in the SCOOP area and one is in the southeastern Oklahoma Woodford. There is currently no drilling underway in our two Permian projects.
  • We have approved the drilling of 19 gross wells and the re-fracturing of one of our Eagle Ford wells, none of which have yet started. These projects are estimated to be a net investment of $1.7 million. We are currently evaluating an additional 23 well proposals on our holdings. These wells have a total projected net cost of $1.3 million.

 

 

 

 

 

 

 



Related Categories :

First Quarter (1Q) Update   

More    First Quarter (1Q) Update News

Gulf Coast - South Texas News >>>


Mid-Continent - Anadarko Basin News >>>