Current PRHR Stock Info

DJ Basin focused PetroShare Corp. (ticker: PRHR) reported yearend proved reserves of approximately 7.9 MMBOE, a 25% increase over 2016 yearend proved reserves. The PV-10 value was about $59 million and the volume of the proved reserves is split 67% for oil/condensate and NGLs, and 33% for natural gas.

PetroShare Preps for April Frac at Shook Pad

PetroShare Reserves, Mar. 2018

President Frederick J. Witsell commented, “Our growth in proved reserves is primarily the result of our increased participation in non-operated horizontal wells in the Wattenberg Field in 2017. In the first quarter of 2018 we estimate that our net production will be between 600-700 BOEPD. Thus far in 2018, we have participated in another 14 horizontal wells (1.43 net) as a non-operated working interest partner, which are in early flow back, or in final completion stages, that should contribute to a growing production profile for PetroShare in the second quarter of 2018.

“Additionally, pressure pumping equipment and crews for initiating our 14 horizontal well Shook pad frac program are scheduled to be on location on April 1, and we anticipate those wells will be turned into the sales pipeline late in the second quarter generating a material increase in production during the second half of 2018. We believe that our second half production rate will eclipse 3,000 BOEPD…,” Witsell said.

Legal Notice