Sundance Energy Australia Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Production Guidance for the Second Quarter, Third Quarter, Fourth Quarter, Second Half and Full Year of 2017
The company expects full year production of 7,700-8,500 Boe/d.
The company anticipates second quarter 2017 production to be 5,300-5,700 boe/d. The expected decline is caused by approximately 1,000 boe/d of production declines from wells producing as of December 31, 2016 and the sale of approximately 650 boe/d with the Oklahoma asset sale.
For the second half of 2017, the company expected decline from PDP Wells drops to approximately 9.5% per quarter.
8 gross (7.7 net) wells will begin production throughout the third quarter of 2017
3 gross (3.0 net) wells will begin production throughout the fourth quarter of 2017. These wells will drive production growth for the Company in the second half of 2017.