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STACK-Focused E&P Adds Eighth Rig; Plans to Drill & Complete 175 Wells in 2018
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Alta Mesa reported its Q1 2018 results - the company finalized its transition into a pure-play STACK company in February 2018.
The company confirmed its 2018 development plans.
Drilling Activity Average Rigs : 8 Well Count : 170 - 180 (gross) Production Oil (BOPD) : 18,000 - 21,000 Natrual Gas (MCF/d) : 58,000 - 68,000 Natural Gas Liquids (Bbls/d) : 5,000 - 6,000 Equivalent Production (Boe/d) : 33,000 - 38,000 Highlights:- 1Q-2018 net production 24,000 BOE per day, up 9% from 4Q-2017
- Exited Q1 with average net production of 25,800 BOE per day in March
- 8th rig added in May to support full year plan
- Finalized transition to pure-play STACK company (position outlined below)
STACK OpsIn Q1, AMHLP completed 28 horizontal wells in the Mississippian-age Meramec/Osage section;
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