Hammerhead Energy Has Increased Its 2023 Annual Average Production Guidance Of 41,500 Boe/Day From The Previous Estimate Of 40,200 Boe/Day. Crude Oil Production Is Estimated To Be 35% Of Production From A Prior Estimate Of 33%
Portfolio Pulse from Benzinga Newsdesk
Hammerhead Energy has increased its 2023 annual average production guidance to 41,500 boe/day, up from the previous estimate of 40,200 boe/day. This comes after the company's 12-well North Karr 10-14 pad exceeded internal forecasts, with peak pad production exceeding 17,800 boe/d. As a result, Hammerhead's corporate production volumes for August averaged 48,500 boe/d.
September 06, 2023 | 10:06 am
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POSITIVE IMPACT
Hammerhead Energy's increased production guidance and better-than-expected performance from its North Karr 10-14 pad could positively impact its stock price.
Increased production guidance typically indicates a company's confidence in its operations and future profitability, which can positively impact investor sentiment and drive up the stock price. The better-than-expected performance from the North Karr 10-14 pad further supports this outlook.
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