Drilling & Completions | Drilling Activity
Rosehill Turns on Taps at Delaware Basin Wells; Expects Output Growth in Q3
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Rosehill Resources Inc. provided an operational update for recent activity as well as expected production for the quarter ending September 30, 2019.
Highlights:
- Placed onto production nine wells in the Northern Delaware area and four wells in the Southern Delaware area to date in the quarter
- Average net production for September to date of over 22,000 BOEPD -
- Currently expect average net production for third quarter 2019 to be between 20,000 and 21,000 BOEPD - up ~8% from Q2 2019
- Resumed drilling operations in September on a two-well pad in the Northern Delaware area targeting the Wolfcamp B formation and expect to drill two wells in the Southern Delaware in early October
David French, Rosehill's President and Chief Executive Officer, commented, "We are very pleased to provide an update on our expected third quarter activity and the resulting estimated growth over second quarter. As we previously indicated, the third quarter is a meaningful inflection point for our production trajectory given the number of wells completed in our Northern Delaware area as well as contribution from completion work in the Southern Delaware area that carried into the quarter. Most of the Northern Delaware wells were placed online in late August and early September, providing momentum into the remainder of 2019 and supplemented by our planned fourth quarter drilling and completion activity. Our fall borrowing base redetermination is currently underway, and we expect the contribution from this along with our drilling activities to meaningfully improve our liquidity over the remainder of the year. We look forward to providing additional results with our third quarter earnings announcement."
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