EP Energy Corporation Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2018; Provides Production Guidance for the Second Quarter and Full Year of 2018; Provides Capital Expenditure Guidance for the Full Year of 2018
In the first quarter of 2018, the company reported Oil production of 45.4 MBbls/d and total production of 80.1 MBbls/d.
The company provided production guidance for the second quarter and full year of 2018. For the quarter, the company expects total production in the range of 80 MBoe/d to 82 MBoe/d. The company expects oil production in the range of 47 MBbls/d to 49 MBbls/d.
For the year, the company expects total production in the range of 81 MBoe/d to 87 MBoe/d. The company expects oil production in the range of 46 MBbls/d to 50 MBbls/d.
The company announced that total CapEx spend anticipation is still the same between $600 million and $650 million for 2018. That includes though the $60 million roughly of new projects, the bulk of which that money is going to be spent in the first 2 quarters of the year.