12/07/2018 00:51:01

Sundance Energy Provides July 2018 Operational Update

DENVER, July 11, 2018 (GLOBE NEWSWIRE) -- Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, today provided an update regarding the Company’s recent development activities.

Production

The Paloma Ranch 7H well had a completed lateral length of 7,690’ and initiated flowback on 2nd June. Initial 30-day production (“IP-30”) results were 1,345 barrels of oil equivalent per day with oil representing 62% (or 829 barrels) of volumes. The Peeler Ranch 8HC and 9HC wells initiated flowback on 26th June and had completed lateral lengths of 5,642’ and 5,820’ respectively. Early Peeler Ranch production results to date are in line with well performance expectations.

Drilling Activities

Sundance began drilling both wells on the two well Harlan Bethune 34H and 35H pad in Live Oak County with the Patterson 229 rig during the third week of June. The Company has completed drilling the 35H well and is presently drilling the intermediate section of the 34H well.

Sundance additionally mobilized the Patterson 589 rig to the two well Justin Tom 05H and 06H pad in Atascosa County and began drilling both wells during the second week of June. The Company has finished drilling, casing and cementing the vertical section of both wells and is presently drilling ahead in the lateral of the 05H well.

Sundance has executed a one year contract on the Patterson 229 rig and a 90 day contract on the Patterson 589 rig, both at fixed day rates in-line with assumptions used for the Company’s previously announced capital expenditure program.

Completion Activities

Sundance mobilized its frac crew to the two well Allen MCM 1HA and 2HA pad in McMullen County and initiated the frac job on 6th July. Initial production of the Allen wells is estimated on 1st August. The Company has prepped the recently drilled three well Harlan Bethune 25H, 26H and 27H pad in Live Oak County for frac and intends to mobilize the frac crew there in late July following completion of the frac jobs on the Allen wells. The Company anticipates completing and beginning production on 10 wells in the third quarter.

Year to Date Activities Overview

Well Name

County

Spud

Date

Frac Start

Date

IP Date

Completed Lat Length

30-Day

IP Rate

(boe/d)

% Oil

        
Paloma Ranch 7HMcMullen18-Jan-1817-May-182-Jun-187,690'1,34562%
Peeler Ranch 8HCAtascosa1-Mar-1828-May-1826-Jun-185,642'-- 
Peeler Ranch 9HCAtascosa24-Mar-1828-May-1826-Jun-185,820'-- 
Allen MCM 1HAMcMullen21-Apr-186-Jul-18---- 
Allen MCM 2HAMcMullen13-May-186-Jul-18---- 
Harlan Bethune 25HLive Oak7-May-18----- 
Harlan Bethune 26HLive Oak11-May-18----- 
Harlan Bethune 27HLive Oak13-May-18----- 
Justin Tom 05HAtascosa17-Jun-18----- 
Justin Tom 06HAtascosa14-Jun-18----- 
Harlan Bethune 34HLive Oak25-Jun-18----- 
Harlan Bethune 35HLive Oak22-Jun-18----- 

For more

information, please contact:

United States:

John Roberts

VP Finance & Investor Relations

Tel: +1 (720) 638-2400

 Eric McCrady

CEO and Managing Director

Tel: +1 (303) 543-5703

Australia:

Mike Hannell

Chairman

Tel: +61 8 8363 0388

  

About Sundance Energy Australia Limited

Sundance Energy Australia Limited (“Sundance” or the “Company”) is an Australian-based, independent energy exploration company, with a wholly owned US subsidiary, Sundance Energy Inc., located in Denver, Colorado, USA.

The Company is focused on the acquisition and development of large, repeatable oil and natural gas resource plays in North America. Current activities are focused in the Eagle Ford where the company has a position of approximately net 56,600 net acres. A comprehensive overview of the Company can be found on Sundance’s website at

www.sundanceenergy.net

Summary Information

The following disclaimer applies to this document and any information contained in it. The information in this release is of general background and does not purport to be complete. It should be read in conjunction with Sundance’s periodic and continuous disclosure announcements lodged with ASX Limited that are available at

www.asx.com.au

and Sundance’s filings with the Securities and Exchange Commission available at

www.sec.gov

Forward Looking Statements

This release may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same.

These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the discovery and development of oil and natural gas reserves, cash flows and liquidity, business and financial strategy, budget, projections and operating results, oil and natural gas prices, amount, nature and timing of capital expenditures, including future development costs, availability and terms of capital and general economic and business conditions. Given these uncertainties, no one should place undue reliance on any forward looking statements attributable to Sundance, or any of its affiliates or persons acting on its behalf.  Although every effort has been made to ensure this release sets forth a fair and accurate view, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
15 Jul
VWS
  Her i sommervarmen har jeg kigget lidt på Vestas kvartalsregnskaber og udviklingen i driftsmargine..
45
18 Jul
ZEAL
Baronen du er kandidat til stoerste selvfede narrehat herinde, uanset hvor mange gange du gentager d..
21
17 Jul
EI
Kære brugere   Som i har bemærket, er der igen til morgen problemer med vores streaming. Realtidskur..
17
16 Jul
DANSKE
Har du fået nej til en kassekredit nede i Danske Bank ?
17
17 Jul
VWS
MHI Vestas har nu øget sin ordrebeholdning til over 5GW, og der kommer meget mere endnu, og til næst..
16
17 Jul
 
USA har den svageste og mest retarderede præsident, som de nogensinde har haft.
14
19 Jul
GOOGL
Trump er uduelig og Putin benytter alle muligheder for at sætte splid internt i US og alle andre ste..
12
18 Jul
ZEAL
Ja, du har sagt og skrevet meget, og da det ikke er bedre end nedenfor, så har det ikke den store ef..
12
18 Jul
 
Dine reklamer afspejler din ageren på nettet. Tak dig selv for dine kinesiske reklamer
11
19 Jul
 
Hej Paknet. Æhæm, altså, hvordan skal jeg skære denne kage? Du ER tydeligvis ny på markedet, og der ..
10

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Second quarter 2018 results - ramping up construction and increasing backlog and pipeline
2
Pittsburgh International Airport Selects World-Renowned Architectural and Engineering Firms with Local Ties to Collaborate on Design of New Terminal
3
Federman & Sherwood Announces Filing of Securities Class Action Lawsuit Against National Beverage Corp.
4
Sterling National Bank Grows Commercial Banking and Commercial Finance Teams with Key Hires
5
FAURECIA : DOUBLE-DIGIT GROWTH IN SALES AND OPERATING INCOME IN THE FIRST HALF - UPGRADED FULL-YEAR GUIDANCE

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
21 July 2018 04:48:17
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180712.1 - EUROWEB2 - 2018-07-21 05:48:17 - 2018-07-21 04:48:17 - 1000 - Website: OKAY