Eagle Ford-focused SilverBow Resources (ticker: SBOW), formerly Swift Energy, moved onto the New York Stock Exchange in May, 2017 when it changed its name to SilverBow.
The company has achieved an average production rate of 135.6 Mmcfe per day in Q1, 2017.
SilverBow revised its 2017 capital expenditure guidance to between $190 and $200 million—allowing the company to complete 26 wells, as opposed to its previous 12 wells. The company believes that the revision in its capital budget will fuel 2017 production growth by between 20 and 25%.
SilverBow’s 2017 guidance is set at between 145 and 155 Mmfce per day. During its first quarter, the makeup of SilverBow’s production was 83% natural gas, 10% NGLs and 7% oil. Within its 63,103 net acres of Eagle Ford land, SilverBow has a total of 774 producing wells.
The majority of the company’s production stems from its Fasken area, which produced 65% of the total Q1, 2017 production out of 63 producing wells. The company is focusing much of its production on unexploited gas regions in the Eagle Ford.
Source: SilverBow Resources
Modifying completions
SilverBow has used gradually evolving completions technology to further enhance its production profile. The company began its Generation 1 Completion design with approximately 1,750 Mmcfe across 12 months. The Gen 2 design brought that value to approximately 2,250 Mmcfe over 12 months. The Gen 3 design added production further, with approximately 3,000 Mmcfe over 12 months.
As of Q1, 2017 the company is utilizing an even newer completion design with between 1,900 and 2,100 pounds of proppant per foot, a lateral length of approximately 7,500 feet, and stage spacing between 230 and 240 feet. The new design is showing promising returns, and exceeding the expectations set by previous designs.
Previous designs typically entailed between 800 and 1,000 pounds of proppant per foot, lateral lengths of approximately 5,500 feet, and stage spacing between 310 and 520 feet.
Source: SilverBow Resources
SilverBow Resources is presenting at EnerCom’s The Oil & Gas Conference® 22
SilverBow will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.
The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors. The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.
