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RMP Hits Record Production of 12,026 BOE/d; Increases Reserves
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RMP Energy Inc. reported information on its crude oil, natural gas and NGLs reserves as of December 31, 2015, as evaluated by the Company's independent qualified reserves evaluators, InSite Petroleum Consultants Ltd.
Highlights: Record annual production. The Company achieved an annual record level of average daily production of 12,026 boe/d (weighted 46% light oil and NGLs), surpassing its previous record output of 11,782 boe/d in the prior year, in spite of incurring capital expenditures which were 48% lower year-over-year and drilling 15 horizontal oil wells (15.0 net) versus 24 (24.0 net) horizontal wells in fiscal 2014. RMP's fourth quarter 2015 production was 11,257 boe/d (weighted 46% light crude oil and NGLs). Increased reserves quality mix. Proved developed producing ("PDP") re…- ✓ Full news archive — U.S., Canada & international coverage
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