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QEP Rigging Up Two More Rigs on County Line Acreage
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QEP Resources reported third quarter 2016 financial and operating results.
Key Points: Added two additional rigs in the Permian Basin on legacy acreage (County Line) Total of five rigs running (3 Permian / 1 Bakken / 1 Pinedale) - this compares to three rigs in Q2 Spraberry - Continued its initial "wine-rack" geometry well density test - Completed a total of eight wells in the pilot. The spacing pattern is designed to evaluate 10-wells per one-mile spacing unit density in the Spraberry Shale. The average peak 24-hour IP for these eight wells was 1,291 Boed and after over two months on production Highlights: Increased full-year production guidance for crude oil, natural gas and NGL Completed five gross-operated Spraberry Shale wells, with an average peak 24-hour IP of 1,258…- ✓ Full news archive — U.S., Canada & international coverage
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