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Unit Reports Q2 Production of 3.9 MMBOE; Expects to Start STACK Drilling by End of 2017
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Unit Corp released its Q2 results and highlights include:
Unit Corp. reported total Q2 production of 3.9 mmboe (48% liquids), an increase of 2% from Q1. Oil production for the quarter was 7,851 bbls/d, an increase of 10% from Q1. Q2 natural gas production was 131,490 mcf/d, a 3% decrease from Q1. NGL production was 12,486 bbls/d, a 2% increase from Q1. During the first half of the year, total production was 7.6 mmboe.
In the Granite Wash, the company saw production from 2 wells and drilled 2 new wells. These wells have laterals of 7,500' feet and have a projected well cost of $6.3 million. In the STACK, Unit has 15,000 net acres with an estimated 90 to 130 operated drilling locations. While the company is still working on land and regulatory work, it anticipates that the drilling program…
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