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


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.

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Comments (1)
  • cssmith
    , contributor
    Comments (69) | Send Message
     
    Thank you, Jennifer... I have had RSPP on my "Watch List" for quite a while but, so far, I have not been able to reach a comfort level.

     

    Do you have any feel for how attractive these assets would be from an aquisition perspective? Are they In anybody's way?
    30 Jul 2014, 09:34 AM Reply Like
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