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Unit Corp. Ceases All Drilling for Remainder of 2016; IDs Q1 Well Results
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Unit Corporation reported its financial and operational results for the first quarter 2016.
Key Points: In accordance with previously announced plans, the company ceased all drilling activity by the end of the first quarter. Wilcox Play - During the quarter, in the Wilcox play, Unit drilled and completed four horizontal wells, two in the Gilly field and two others in nearby fields. The results of the two Gilly field horizontal wells were strong with 30 day IP rates of approximately 12.7 and 5.6 million cubic feet equivalent (MMcfe) per day. Southern Oklahoma Hoxbar Oil Trend (SOHOT) - Unit drilled four wells and completed three wells during the quarter. For the three wells that had sufficient data, the average 30 day IP rate is approximately 800 barrels of oil equivalent (Boe) per…- ✓ Full news archive — U.S., Canada & international coverage
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