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RSP Permian Drops Down to Two Rigs, Drills 13 Wells in 1Q
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RSP Permian, Inc. reported financial and operating results for the quarter ended March 31, 2016.
Key Points: Dropped from three rigs to two in 1Q16 RSP drilled 13 operated horizontal wells and completed 11 operated horizontal wells (one Middle Spraberry, seven Lower Spraberry, one Wolfcamp A and two Wolfcamp B). The Company exited the quarter with a total of 21 operated drilled and uncompleted wells including 20 uncompleted horizontal wells and one uncompleted vertical wells. Production increased by 54% to 24.6 MBoe/d (76% oil) as compared to 1Q15 and increased by 2% as compared to 4Q15 First Quarter 2016 Highlights: Production increased by 54% to 24.6 MBoe/d (76% oil) as compared to 1Q15 and increased by 2% as compared to 4Q15 Adjusted EBITDAX decreased by 40% to $35.6 million as…- ✓ Full news archive — U.S., Canada & international coverage
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