DENVER, Sept. 06, 2018 (GLOBE NEWSWIRE) -- Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, today provided an update regarding the Company’s recent development activities.
Production
Sundance brought 7 wells online in August, including 5 wells on the recently acquired acreage in Live Oak County. The Company brought the 2-well Justin Toms pad, located in Atascosa County, online in early September.
| Well Name | County | IP Date | Completed Lat Length | Choke | 24-Hour IP | % Oil | Cum Production | % Oil |
| Harlan Bethune 25H | Live Oak | 15-Aug-18 | 4,973' | 16/64 | 941 | 74% | 20,125 | 73% |
| Harlan Bethune 26H | Live Oak | 15-Aug-18 | 4,161' | 16/64 | 1,387 | 78% | 25,624 | 79% |
| Harlan Bethune 27H | Live Oak | 15-Aug-18 | 3,469' | 16/64 | 1,264 | 76% | 26,166 | 76% |
| Harlan Bethune 34H | Live Oak | 19-Aug-18 | 3,506' | 16/64 | 1,458 | 77% | 23,802 | 76% |
| Harlan Bethune 35H | Live Oak | 19-Aug-18 | 3,678' | 16/64 | 1,504 | 78% | 23,761 | 77% |
| Allen MCM 1HA | McMullen | 17-Aug-18 | 8,015' | 28/64 | 1,388 | 76% | 23,813 | 75% |
| Allen MCM 2HA | McMullen | 17-Aug-18 | 8,234' | 28/64 | 1,297 | 78% | 21,398 | 78% |
Drilling Activities
Sundance is currently drilling the 4-well James Keith Esse pad and the 2-well Idylwood pad, both located in Live Oak County.
Completion Activities
Upon completion of the 2-well Justin Toms pad the Company released its frac crew ahead of schedule. The frac crew will be mobilized for Sundance’s fourth quarter completions in late September.
| Well Name | County | Spud Date | Frac Start Date | IP Date | Completed Lat Length | 30-Day IP Rate (boe/d) | % Oil |
| Paloma Ranch 7H | McMullen | 18-Jan-18 | 17-May-18 | 2-Jun-18 | 7,690' | 1,345 | 62% |
| Peeler Ranch 8HC | Atascosa | 1-Mar-18 | 28-May-18 | 26-Jun-18 | 5,642' | 484 | 92% |
| Peeler Ranch 9HC | Atascosa | 24-Mar-18 | 28-May-18 | 26-Jun-18 | 5,820' | 446 | 93% |
| Allen MCM 1HA | McMullen | 21-Apr-18 | 6-Jul-18 | 17-Aug-18 | 8,015' | - | - |
| Allen MCM 2HA | McMullen | 13-May-18 | 6-Jul-18 | 17-Aug-18 | 8,234' | - | - |
| Harlan Bethune 25H | Live Oak | 7-May-18 | 24-Jul-18 | 15-Aug-18 | 4,973' | - | - |
| Harlan Bethune 26H | Live Oak | 11-May-18 | 22-Jul-18 | 15-Aug-18 | 4,161' | - | - |
| Harlan Bethune 27H | Live Oak | 13-May-18 | 22-Jul-18 | 15-Aug-18 | 3,469' | - | - |
| Justin Tom 05H | Atascosa | 17-Jun-18 | 12-Aug-18 | 3-Sep-18 | 6,258' | - | - |
| Justin Tom 06H | Atascosa | 14-Jun-18 | 12-Aug-18 | 3-Sep-18 | 6,299' | - | - |
| Harlan Bethune 34H | Live Oak | 25-Jun-18 | 3-Aug-18 | 19-Aug-18 | 3,506' | - | - |
| Harlan Bethune 35H | Live Oak | 22-Jun-18 | 3-Aug-18 | 19-Aug-18 | 3,678' | - | - |
| James Keith Esse 06H | Live Oak | 26-Jul-18 | - | - | - | - | - |
| James Keith Esse 07H | Live Oak | 22-Jul-18 | - | - | - | - | - |
| James Keith Esse 08H | Live Oak | 24-Jul-18 | - | - | - | - | - |
| James Keith Esse 09H | Live Oak | 20-Jul-18 | - | - | - | - | - |
| Idylwood 04H | Live Oak | 3-Aug-18 | - | - | - | - | - |
| Idylwood 05H | Live Oak | 3-Aug-18 | - | - | - | - | - |
For more information, please contact:
| United States: John Roberts VP Finance & Investor Relations Tel: +1 (720) 638-2400 | Eric McCrady CEO and Managing Director Tel: +1 (303) 543-5703 | |
| Australia: Mike Hannell Chairman Tel: +61 8 8363 0388 |
About Sundance Energy Australia Limited
Sundance Energy Australia Limited (“Sundance” or the “Company”) is an Australian-based, independent energy exploration company, with a wholly owned US subsidiary, Sundance Energy Inc., located in Denver, Colorado, USA.
The Company is focused on the acquisition and development of large, repeatable oil and natural gas resource plays in North America. Current activities are focused in the Eagle Ford where the company has a position of approximately net 56,600 net acres. A comprehensive overview of the Company can be found on Sundance’s website at www.sundanceenergy.net
Summary Information
The following disclaimer applies to this document and any information contained in it. The information in this release is of general background and does not purport to be complete. It should be read in conjunction with Sundance’s periodic and continuous disclosure announcements lodged with ASX Limited that are available at www.asx.com.au and Sundance’s filings with the Securities and Exchange Commission available at www.sec.gov.
Cautionary Note Regarding Forward Looking Statements
This release may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same.
These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the discovery and development of oil and natural gas reserves, cash flows and liquidity, business and financial strategy, budget, projections and operating results, oil and natural gas prices, amount, nature and timing of capital expenditures, including future development costs, availability and terms of capital and general economic and business conditions. Given these uncertainties, no one should place undue reliance on any forward looking statements attributable to Sundance, or any of its affiliates or persons acting on its behalf. Although every effort has been made to ensure this release sets forth a fair and accurate view, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.