Russian giant Rosneft Oil Company (ticker: ROSN) reported a Q1 2018 net income of USD$1.5 billion (RUB$81 billion) with a spending budget of $3.9 billion (RUB$223 billion).

Rosneft Production, May 2018
More multistage fracs, horizontal wells
The company produced 5.71 MMBOE in Q1 2018. The number of new wells commissioned increased by 22% to 809 wells, Rosneft said, with horizontal wells up to 39%. The number of new horizontal wells with multistage fracs is up by more than 65% year-over-year.

In the quarter, development drilling was at ...

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