Operational Updates
Plains Reports 1Q Results, Eagle Ford and Haynesville Projects
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PXP Reports First-Quarter Results: Delivers Strong Oil/Liquids Sales Volume and Revenue Growth, Realizes Substantial Increase in Cash Flows from Operating Activities
In the Eagle Ford Shale, first-quarter daily sales volumes averaged 13,908 BOE per day net to PXP compared to fourth-quarter 2011 average daily sales volumes of 9,123 BOE per day net to PXP. In March daily sales volumes averaged 15,154 BOE per day net to PXP. In April average daily sales volumes were in excess of 19,000 BOE per day net to PXP. The Company expects to exit the year above 26,000 BOE per day. Initial production rates on recently completed wells are as follows:
The Jendrusch 1H achieved a peak rate of 3,168 gross BOE per day (100% working interest).
The Love 1H achieved a peak rate of 2,222 gross BOE per day (100%…
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Gulf Coast - South Texas News
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