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Penn Virginia's Geo Hunter Pad IPs Impress in Q4; Production Up 32% YOY
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Penn Virginia reported its Q4 and full year 2017 results.
Highlights:Strong Well Results:
Strong well results in Area 2 – the two-well Geo Hunter pad had an IP30 rate of 3,767 BOEPD and a previously announced 24-hour IP rate of 5,465 BOEPD. In addition, the Company recorded a 24-hour IP rate from its Southern Hunter Amber two-well pad of 5,092 BOEPD. Both pads utilized the Company’s slickwater completion design Recent Drilling Activity:Production:
Produced 3.8 MMBOE, or 10,353 BOEPD (73% crude oil), for full year 2017, including 12,340 BOEPD (74% crude oil) in the fourth quarter of 2017 – a 32% increase over the fourth quarter of 2016. Achieved a 2017 exit rate (average of last five days of 2017) of approximately 14,650 BOEPD. Targeting year-over-year production growth of…- ✓ Full news archive — U.S., Canada & international coverage
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