Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Drilling Activity
PetroShale Hits 14% Production Growth at Year-End 2017; 2,121 BOEPD
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PetroShale has reported its year-end 2017 results.
Highlights include:- Production averaged 2,121 boepd (86% liquids) in the fourth quarter, a 14% increase from the fourth quarter of 2016 and a 12% increase from the third quarter of 2017
This is largely attributable to the impact of three (0.6 net) non-operated wells which commenced production in November 2017. Average 2017 production increased by 50% to 2,445 boepd (88% liquids), from 1,631 boepd (83% liquids) in 2016.- Revenue in 2017 was $44.0 million, an increase of 89% over 2016.
EBITDA in 2017 was $21.2 million, an increase of 123% over 2016.- Capital expenditures during 2017 of $67.1 million were directed to drilling and completion activities plus several acquisitions. One of these acquisitions included the addition of…
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