re: Ann: Drilling Success on Second Horizonta... 19 day from...

re: Ann: Drilling Success on Second Horizonta... 19 day from spud to being ready for production testing is just insane.

That is drilling 9300ft, doing a 20 stage frac, AND fitting the pump. Cost has come down also - now quoting $3.4Million. Somebody deserves their Xmas bonus. Do they even sleep?

This means that these wells (assuming similar performance to other Range 2012 wells) are going to pay out over 9 months FROM SPUD. Ie the cash is back in the bank to rinse and repeat.


Compare with RFE who are taking 6 months from SPUD to 30 day IP rates. They are then only producing at an average of 250 BOPD for their 30 day IP (vs 800+ for Balder 1). This means they are probably only achieving payback at about 18+ months from spud.

This is not a critism of RFE - what they are doing is not far removed from others in the industry. But is just goes to show how good the boys at Range are.