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Wolfcamp / Eagle Ford E&P IDs $680MM Capex; 175-190 Completions
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EP Energy reported its 2017 budget as well as fourth quarter and year-end 2016 financial and operational results for the company.
2017 Guidance $630 million to $730 million of oil and gas expenditures (up ~40% from $495MM in 2016) 75 MBoe/d to 82 MBoe/d of total equivalent production 45 MBbls/d to 49 MBbls/d of oil production 175 to 190 gross well completions with primary focus in the Wolfcamp program Approximately 75 percent of 2017 estimated oil production volumes hedged at an average price of $61.66 per barrel of oil Approximately 76 percent of 2017 estimated natural gas production volumes hedged at an average price of $3.28 per MMBtuIn 2017, EP Energy expects capital spending to range from $630 million to $730 million. The company maintains flexibility with regard to its spending…
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