Cabot Energy plc Announces Production Results for the Month of April and First Quarter of 2018; Provides Production Guidance for the Second Quarter and Full Year 2018
Production during the first quarter, which averaged 725 bopd, was reduced by the ILI Programme and the temporary halt in production of a high rate well which required a casing repair. These items accounted for a loss of approximately 130 bopd of production, all of which should return by the end of the second quarter.
The Company remains on track to meet its full year exit production rate of 1,600 bopd to 2,000 bopd and average production guidance of 1,000 bopd to 1,200 bopd.
The company expects additional 200 bopd expected to be on production during second quarter of 2018.