This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CORRECTING and REPLACING Six New Wolfcamp Wells Generate Excellent Rates

Headline of release should read: Six New Wolfcamp Wells Generate Excellent Rates (sted: Four New Wolfcamp Wells Generate Excellent Rates)

The corrected release reads:

SIX NEW WOLFCAMP WELLS GENERATE EXCELLENT RATES

2014 Production, Capital Guidance Announced Energen Reports 4th Quarter 2013 Operating, Financial Results 3P Reserves and Contingent Resources Increase 96%

Highlights
  • Wolfcamp “B” well in western Reeves County sets known record for peak 24-hour IP (3-phase) in southern Delaware Basin at 2,387 boepd.
  • 7,000 foot Wolfcamp “B” well in Midland Basin (Glasscock County) produces at peak 24-hour IP (3 phase) of 1,387 boepd (80% oil) without artificial lift.
  • 2014 drilling and development capital estimated at $1.05 billion.
  • Permian Basin production in 2014 estimated to increase 16% year-over-year (YOY).
  • Oil and NGL (“liquids”) production estimated to increase 12%, building on company high 13.6 MMBOE in 2013.
  • 2013 Permian Basin production rises 27% YOY despite ≈240,000 BOE impact from 4 th quarter ice storms.

Energen Corporation (NYSE: EGN) has tested six new Wolfcamp wells in the Permian Basin, including two “B” bench wells in western Reeves County and two “B” bench well with 7,000-foot drilled lateral lengths in southern Glasscock County. All produced at very attractive initial rates. [See locator maps at www.energen.com ].

The Winchester 57-10 #1H in western Reeves County produced at a peak 24-hour rate (3-stream) of 2,387 boepd, which is the highest initial production (IP) rate for a southern Delaware Wolfcamp well known to have been publicly disclosed to date. Were it not for its shorter completed lateral length, the Tisdale 56-8 #1H – also in western Reeves County – likely would have been comparable to the Winchester.

1 of 17

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs