Well Lateral Length | Fourth Quarter (4Q) Update | Hedging | Capital Markets | Drilling Activity
Ring Details Q4 Drilling Activity, IP Averages; Adds to Hedges
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Ring Energy, Inc. reported its operations update for the fourth quarter of 2019 as well as its year-end drilling summary.
Q4 Drilling Activity - Three New NWS WellsIn the three months ended December 31, 2019, the Company drilled four new one-mile HZ San Andres wells on its Northwest Shelf (NWS) asset. Of the four new wells drilled, three were completed, tested and had IPs filed, while the one remaining well was completed and is currently being tested.
In addition to the three new wells drilled in the fourth quarter which had IPs filed, the company completed testing and filed IPs on five additional horizontal wells drilled in previous quarters (2 Central Basin 1 mile (CBP) / 2 NWS 1 mile / 1 NWS 1.5 mile).
The average IP rate for all the horizontal wells (8 wells) IP'd in the fourth…
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