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RSP Permian Ups Capex, Well Completions ~30% for 2016
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RSP Permian, Inc. reported financial and operating results for the quarter ended June 30, 2016 and updated its 2016 annual guidance.
Key Points: Budget increased to $285-315 million (up from $200-260 million) More horizontal completions planned: 52-56 (up from 36-48) Second Quarter 2016 Highlights Production increased by 33% to 26.4 MBoe/d as compared to 2Q15 and increased by 7% as compared to 1Q16 Completed 11 operated horizontal wells (10 Lower Spraberry and one Wolfcamp A) and one operated vertical well Completed four Lower Spraberry wells in the Johnson Ranch lease in Martin County with combined initial production rates exceeding 4,700 Boe/d (average lateral length of ~7,100) RSP's previously announced first four horizontal wells completed in western Glasscock County, which had…- ✓ Full news archive — U.S., Canada & international coverage
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