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Roan Increases Q2 Output Estimates, Lower Spending; Touts Mad Play Well IP30s

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   |    Friday,June 14,2019

Roan Resources, Inc. has updated guidance for the second quarter of 2019.

Specifically, the Company anticipates second quarter production to exceed 50 MBOEPD, which compares to adjusted guidance of approximately 49 MBoe/d, when accounting for ethane rejection.

Additionally, due to drilling and completion costs continuing to trend lower, the Company is projecting CAPEX to come in approximately 10% below original second quarter guidance of $155 million.

Mad Play Well Unit Impresses

The Mad Play unit, along with the Mayes wells from the Earl and Victory Slide units, continue to be strong producing wells.

Updated results for these wells are as follows:

  • 4-well Mad Play unit had an average per well 30-day IP rate of 1,602 Boe/d (44% oil, 20% NGLs, 36% gas) from a normalized 10,000-foot lateral
  • 3 Mayes wells from the Earl unit had an average per well 30-day IP of 1,466 Boe/d (39% oil, 24% NGLs, 37% gas) from a normalized 10,000-foot lateral
  • 2 Mayes wells from the Victory Slide pad had an average per well 30-day IP rate of 1,109 Boe/d (71% oil, 14% NGLs, 15% gas) from a normalized 10,000-foot lateral

The Company anticipates 14 gross operated wells to be turned to first sales during June and July. These wells are spaced and being completed in accordance with the Company's improved development program of 2019 and anticipates strong performance results from this group of wells.



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