Skip to main content

Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Quarterly / Earnings Reports | Production | First Quarter (1Q) Update | Capital Markets | Capital Expenditure | Drilling Program - Wells | Private Equity Activity

RSP Must Majorly Increase Spending, Completions to Hit Guidance; Adding Third Rig in Q2

printPrint    |   
RSP Must Majorly Increase Spending, Completions to Hit Guidance; Adding Third Rig in Q2

[Summary: Highlights from RSP's Q1 results and conference call / presentation include:

RSP currently operates 6 rigs (4 Midland/2 Delaware) and expects to add a third Delaware rig in May instead of Q3 as originally anticipated Q1 capex was $115.6 million ($110.5 million D&C) and, at this rate, RSP will not hit its guidance of $625-700 million without significantly increasing spending in the last three quarters Q1 completions were 14 and, like capex, RSP will not hit its guidance of 85-98 completions by the end of the year without singificantly increasing completions in the last three quarters Acquired 770 acres in Loving County and entered into acreage trades for ~2,130 acres in Midland. These bolt ons were acquired priarily to increase lateral lengths on existing acreage Production…
Finish this article — free account or subscription
  • ✓  Full news archive — U.S., Canada & international coverage
  • ✓  A&D transactions — asset deals, corporate M&A, assets for sale
  • ✓  Permits & completions data, plus 900,000+ slides & presentations
No credit card. Includes 15 days of full access to permits, deals, completions and presentations.
Already a subscriber? Log in


More First Quarter (1Q) Update News

Permian News