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Sundance Expects 32% Production Growth by YE 2018; Latest Eagle Ford Well IPs

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   |    Tuesday,October 09,2018

Sundance Energy Australia Limited has detailed its production expectations for the remainder of 2018 as well as its latest Eagle Ford well results.

Production

Sundance’s sales volume for the month of September was ~15,300 boepd. The Company expects average Third Quarter daily production to be at the high end of its previously released guidance of 10,000 to 11,000 boepd. The Company brought a significant number of wells online late in the Third Quarter, resulting in an elevated September production rate.

The Company expects sales volumes of 14,000 – 15,000 boepd in the Fourth Quarter of 2018, a 32% increase over the Third Quarter.

Latest Well Results:

During the month of September Sundance completed drilling the 2-well Idylwood pad and the 4-well James Keith Esse pad, both located in Live Oak County. Sundance is currently drilling the 2-well Hoskins 20H and 21H pad in McMullen County and the 3-well Harlan Bethune 22H, 23H and 24H pad in Live Oak County.

Once the Paterson 589 rig has completed drilling the Hoskins pad, Sundance plans to release the 589 rig and will complete the remainder of its 2018 drilling program with just the Patterson 229 rig. Sundance anticipates contracting a second rig during the first quarter of next year in order to execute its 2019 drilling program.

In late September, Sundance mobilized its frac crew to the 2-well Idylwood 04H and 05H pad in order to commence its Fourth Quarter completions program. Upon completion of the Idylwood pad frac jobs in mid-October, the Company intends to mobilize the frac crew to the 4-well James Keith Esse 06H, 07H, 08H and 09H pad. The Company anticipates completing and turning to sales between 9 and 11 wells during the fourth quarter.