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Silverbow Drilling 80% More Wells in 2018; Talks Capex, Q4 Results
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SilverBow reported its Q4 and full year 2017 results and its 2018 outlook.
2018 Plans- 2018 Capex: $245-265 million (up +21% from $210 million spent in 2017)
D&C: $175-185 million Leasing/Land: $25-30 million Facilities/Other: $45-50 million- 2018 Production: 175-195 Mmcfe/d
- Drilling Plans: Drill 32.2 net wells (up +80% from 17.8 net wells drilled in 2017)
The Company recently contracted a second high-spec drilling rig. SilverBow is currently mobilizing this rig with plans to commence drilling later in the first quarter with completions from this rig turning to production early in the third quarter.
Q4 2017 Highlights: Net production averaged 177 Mmcfe/d, exceeding the high end of guidance Oil and gas revenues of $58.7 million, a 20% increase from third quarter 2017 Lease…- ✓ Full news archive — U.S., Canada & international coverage
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