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Resolute to Add Second Permian Rig in Q1 2017; Details Q3 Results
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Resolute Energy has reported preliminary Q3 2016 results as well as its 2017 outlook.
Key Points:2017 Outlook
Expects to continue the drilling program in Reeves County with the same rig and plans to add a second rig in the first quarter. A two-rig program would allow us to spud approximately 21 gross (16.3 net) wells during 2017. Operational UpdateProduction from our Delaware Basin properties in Reeves County, Texas, increased 115% to 4,979 Boe per day in the quarter ended June 30, 2016, as compared to the prior quarter. For the third quarter of 2016 we estimate that our Delaware Basin properties produced on average between 9,250 and 9,650 Boe per day. At the midpoint of the range, this would be an increase of approximately 90% from the second quarter of 2016. We estimate total…
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