Sundance Energy Australia Limited (ticker: SNDE) produces from both the Greater Anadarko basin and the Gulf Coast basin.
Its Anadarko basin assets total 40,937 net acres, in Kansas. Its Gulf Coast basin assets total 26,160 net acres.
The total average production for both basins was 6,685 BOEPD for Q1, 2017. The company expects that its average production for 2017 will grow to between 7,700 and 8,500 BOEPD.
New wells coming online
Sundance’s forecasted growth is based on four wells that have been brought on line and are flowing back as of the end of Q1. The four wells are located in the company’s Eagle Ford acreage and utilize Sundance’s fifth generation completion design.
Sundance expects that, it will be bringing eight gross (7.7 net) wells to production within the third quarter of 2017. Another three wells are slated to begin production in the fourth quarter.
The company made $25.8 million in capital expenditures during Q1, 2017 in order to drill six wells, complete three wells, and begin the drilling of an additional three wells.
Asset sale and acquisition
Sundance also sold its Oklahoma assets during Q1, 2017 for $16.6 million. The company’s Oklahoma Anadarko assets totaled approximately 18,500 net acres, with 68 gross (29.3 net) operated and non-operated wells.
It also acquired approximately 3,200 net acres in its core McMullen area for a total of $5.8 million dollars. The acquisition added approximately 21 gross (19 net) locations in the lower-lower Eagle Ford, and 17 gross (16 net) locations in the upper-lower Eagle Ford.
As a result of the acquisition, the McMullen inventory is now up to 128 gross (107 net) locations in the lower-lower Eagle Ford, and 149 gross (126 net) locations in the upper-lower Eagle Ford.
Sundance Energy Australia Limited is presenting at EnerCom’s The Oil & Gas Conference® 22
Sundance 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.
