Ranger Oil Corp., Houston, plans to continue its three-rig development pace through yearend and may continue a three-rig development program in 2023 based on the rig's performance, market conditions, and capital allocation plans, the company said in release Oct. 19. Specific production guidance for fourth-quarter 2022 was not provided.
In a preliminary update on third-quarter 2022 financial and operating results ahead of complete results expected Nov. 2, the Eagle Ford pure-play company noted total sales volumes of 42,600 boe/d for the quarter, above guidance range of 40,900-42,500 boe/d. Volumes were about 30,700 b/d of oil, exceeding the mid-point of the guidance range of 29,900-31,100 b/d.
Drilling and completion capital expenditures for the quarter were about $151.9 million, in-line with guidance, which included some $3.4 million of incremental capital due to D&C operations completed ahead of schedule.