WildHorse Resource Development Corporation Provides Operational Update Following Hurricane Harvey
August 29 2017 - 6:00PM
Business Wire
WildHorse Resource Development Corporation (NYSE: WRD) announced
today that its Eagle Ford operations and production have been
minimally affected by Hurricane Harvey. WRD’s assets sustained no
damage and only a small portion of its Eagle Ford production was
temporarily shut-in during the storm. WRD is currently operating
all five of its rigs and experienced insignificant drilling down
time. Completions were temporarily suspended due to weather
conditions, but are again operational with two of three crews back
online. Full completion operations are expected within the next
twenty-four hours with the resumption of the third crew. While the
availability of third-party oil-hauling trucks has been limited by
the storm, considerable capacity has returned to our region with
most capacity expected to return over the next few days. These
temporary trucking constraints affected oil sales but not
production volumes.
“We are very proud of our field personnel and their ability to
prepare for this storm. They have managed to keep us operational
with minimal down time while also maintaining an unwavering
commitment to the safety and welfare of our employees,” said Jay
Graham, Chairman and Chief Executive Officer of WRD, “As the Texas
Gulf Coast recovers from this disaster, the community will be
foremost in our thoughts and prayers. We would also like to thank
our first responders for their amazing work as well as the
contributions of countless citizens volunteering at this time.
Together as a community, we plan on coming back stronger than ever
from this storm.”
About WildHorse Resource Development Corporation
WildHorse Resource Development Corporation is an independent oil
and natural gas company focused on the acquisition, exploration,
development and production of oil, natural gas and NGL properties
primarily in the Eagle Ford Shale in East Texas and the
Over-Pressured Cotton Valley in North Louisiana. For more
information, please visit our website at www.wildhorserd.com.
Cautionary Statements and Additional Disclosures
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements can be identified by words such
as “anticipates,” “intends,” “will,” “plans,” “seeks,” “believes,”
“estimates,” “could,” “expects” and similar references to future
periods. Such forward-looking statements are subject to a number of
risks and uncertainties, many of which are beyond WRD’s control.
All statements, other than historical facts included in this press
release, that address activities, events or developments that WRD
expects or anticipates will or may occur in the future, including
such things as WRD’s future capital expenditures (including the
amount and nature thereof), business strategy and measures to
implement strategy, future drilling locations and inventory,
competitive strengths, goals, expansion and growth of WRD’s
business and operations, plans, successful consummation and
integration of acquisitions and other transactions, market
conditions, references to future success, references to intentions
as to future matters and other such matters are forward-looking
statements. All forward-looking statements speak only as of the
date of this press release. Although WRD believes that the plans,
intentions and expectations reflected in or suggested by the
forward-looking statements are reasonable, there is no assurance
that these plans, intentions or expectations will be achieved.
Therefore, actual outcomes and results could materially differ from
what is expressed, implied or forecast in such statements.
WRD cautions you that these forward-looking statements are
subject to risks and uncertainties, most of which are difficult to
predict and many of which are beyond WRD’s control, incident to the
exploration for and development, production, gathering and sale of
natural gas and oil. These risks include, but are not limited to:
commodity price volatility; inflation; lack of availability of
drilling and production equipment and services; environmental
risks; drilling and other operating risks; regulatory changes; the
uncertainty inherent in estimating natural gas and oil reserves and
in projecting future rates of production, cash flow and access to
capital; and the timing of development expenditures. Information
concerning these and other factors can be found in WRD’s filings
with the SEC, including its Forms 10-K, 10-Q and 8-K. Consequently,
all of the forward-looking statements made in this press release
are qualified by these cautionary statements and there can be no
assurances that the actual results or developments anticipated by
WRD will be realized, or even if realized, that they will have the
expected consequences to or effects on WRD, its business or
operations. WRD has no intention, and disclaims any obligation, to
update or revise any forward-looking statements, whether as a
result of new information, future results or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170829006198/en/
WildHorse Resource Development CorporationPearce Hammond, CFA
713-255-7094Vice President, Investor
Relationsir@wildhorserd.com
Wildhorse Resource Development Corp. (NYSE:WRD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Wildhorse Resource Development Corp. (NYSE:WRD)
Historical Stock Chart
From Apr 2023 to Apr 2024