Drilling & Completions | Well Spacing | Production Rates | Forecast - Production | Capital Markets | Capital Expenditure | Capital Expenditure - 2018
Petrus Budgets $27.5MM for 2018, Plans to Drill 9 Wells
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Petrus Resources released an operations update and its preliminary 2018 capital expenditure and drilling plan. Highlights include:
2018 Plans Capital Expenditures : $25 to $30 million Production: an average of 10,350 boe/dIn 2018, Petrus plans on spending between $25 and $30 million. With this capital investment plan, Petrus expects average daily production of 10,350 boe/d, a 2% increase from 2017.
With this capital budget, the company plans to drill 9 gross (4.4 net) Cardium wells targeting condensate rich areas.
Production and Operations Update : 2017The 2017 operations program was focused in the Ferrier area targeting Cardium. In 2017, Petrus drilled 18 gross (13.1 net) wells, including 2 extended reach lateral wells with ~100 stages each.
At the end of the year, there will be 16…
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