ARP expects to attain net output between 51 to 56 Bcfe, mainly from the oil and natural gas liquids (NGL) operating regions, including the Mississippi Lime, Utica Shale and the Marble Falls region in the Fort Worth Basin in Texas.
The company’s hedge positions for 2013 includes natural gas of about 31 Bcf at an average price of $3.89/mcf from swap and collar positions, representing about 90% of revenue, generated from natural gas.
ARP is anticipating NGLs of about 165,000 bbl at an average price of $92.69/bbl from hedged heavier components, using WTI crude swaps.
The hedge position also includes crude oil of about 373,000 bbl at an average price of $92.30/bbl from swap and collar positions.
ARP CEO Edward E Cohen said that the firm’s updated 2013 guidance reflects its achievement in 2012 to expand its operations through accretive acquisitions and organic development.
