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SandRidge Touts Niobrara Well Results; 2017 CapEx
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SandRidge Energy announced financial and operational results for Q3 2016.
Key Points:Chopping 2017 Budget
The Company expects that total capital expenditures will be less than $200 million in 2017. Compared to the company's 2016 budget is $220-240 million, this represents a decrease in spending for 2017 ranging from 9.0-17%.Focus on Drilling Longer Laterals
In the first nine months of 2016, SandRidge drilled and completed 17 laterals using multi and extended lateral designs in the Mid-Continent, including 100% Mississippian multi and extended lateral drilling.
The Company's first Niobrara well, the Gregory 1-9H, exceeded type curve production expectations with a previously reported 30-Day IP of 550 Boepd (89% oil).
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