Drilling / Well Results | Exclusives / Features | Well Spacing
Permian E&P: Well Spacing Issues Driving Oil Production Lower; Revises Type Curve
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Laredo Petroleum reported its Q4 2018 results. While reviewing the results, Shale Experts noticed that the company has decided to address the lower oil productivity. Here is what the company said (below image).
The image below is a representation of the "tight" spacing the company employed in earlier wells. The company is transitioning to wider spacing.
"Total production in fourth-quarter 2018 averaged 70,653 BOE per day, an increase of approximately 14% from the fourth quarter of 2017. Fourth-quarter 2018 oil production increased by approximately 5% from the fourth quarter of 2017. Full-year 2018 total production averaged a Company record 68,168 BOE per day, an increase of approximately 17% from full-year 2017 and exceeding initial 2018 guidance of total production growth of at…
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