HOUSTON--(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.