RAM Energy LLC Provides a Status Update on Current Drilling Activities
On 11/17/20, RAM Energy LLC (“RAM”) announced an update of current operations and outlines the current operations plan.
As a result of the challenging environment in energy thus far in 2020, RAM chose to postpone the completion of the Ranger #1H and Cliffhanger #1H (the “DUCs”). Currently, both wells are drilled, cased and ready for completion. RAM is in position to respond quickly to improved commodity prices and complete these wells. Given the proximity of these two wells to other successful completions, RAM is excited about bringing these wells on line and expect strong performance that will be comparable to prior nearby completions.
RAM’s 11 wells (9 producing) in Fayette County have continued to perform in line or above prior estimates. While lower commodity prices have had a negative impact, the continued strong production of our first 9 producing wells has supported RAM’s optimism about the future development of our remaining locations.
After completion of the two DUCs, RAM will continue to monitor commodity prices and overall industry conditions as we plan future development in Giddings Field. We currently have no plans to develop additional wells in the current pricing environment.Return