Enerplus reported three nice Antelope-Sanish wells; XTO with two more DUCs.
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NOG Releases 1Q18 Results, Guidance
Link here.
- daily production increased 35% year-over-year; increased 7.5% sequentially; ~ 18,000 boepd
- ended the quarter with 19 net wells in process; added 5.8 net wells to production; added 6.5 wells to drilling and completing list
- raising full year guidance (2018) by 26 - 30% over 2017 vs prior guidance of 18 - 22% (estimates do not include the recently announced Salt Creek acquisition -- see link)
- production expenses per boe:
- 1Q2018: $7.71
- 1Q2017: $9.75
- G&A expense
- 1Q2018: $1.03
- 1Q2017: $3.02
- net income
- 1Q2018: $2.965 million
- 1Q2017: $16.941 million
- net income per share
- 1Q2018: 5 cents; adjusted, 17 cents vs estimates of 12 cents per share
- 1Q2017: 27 cents
- In early morning trading after results released: NOG up almost 11%
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