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RMP's 1Q Production Drops to 10,418 BOE/d on Slow Drilling
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RMP Energy Inc. reported that for the three months ended March 31, 2016 funds from operations of $9.5 million ($0.07 per basic share) on revenue of $21.6 million and average daily production of 10,418 barrels of oil equivalent.
First Quarter 2016 Highlights: First quarter production was 10,418 boe/d, weighted 43% light oil and NGLs. The Company’s production level was lower than the comparative first quarter of 2015 due to pared-back drilling activity over the last six months and natural field declines. Typically, drilling operations in preceding quarters contribute to production additions in subsequent quarters. However, a fewer number of wells drilled by the Company in the fourth quarter of 2015 tempered new production contributions for the first quarter of 2016. In the fourth quarter…- ✓ Full news archive — U.S., Canada & international coverage
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