RSP Permian +4% on Q2 production growth, higher 2014 outlook

|About: RSP Permian (RSPP)|By:, SA News Editor

RSP Permian (RSPP +4.1%) reports strong Q2 production growth of 15% Q/Q and 43% Y/Y to 10,714 boe/day, and raises its 2014 production outlook to a range of 11.5K-12K boe/day.

Says it contracted the fifth horizontal drilling rig and finalized terms on a sixth horizontal rig during Q2, which are expected to arrive in late Q4 2014 and mid-Q1 2015 respectively.

Howard Weil raises its target price on the shares to $42 from $38.