Jagged Peak Energy Inc. (NYSE:JAG) Q3 2019 Earnings Conference Call - Final Transcript
Nov 08, 2019 • 11:00 am ET
James J. Kleckner
of approximately $1,090 per lateral foot, a lower quarterly average and had a peak IP-30 of 102 barrels of oil per barrels lateral foot. The Venom project had a DC&E cost of approximately $1,220 per lateral foot. These costs were somewhat higher than Coriander project, as wells had shorter 7,900 foot laterals, compared to 8,500 foot laterals on the Coriander project.
The Venom wells were just recently turned online and have yet to establish a peak IP-30 rates. While we have limited data set of production results from these two projects, but early results look encouraging and we look forward to seeing how they produce over time.
In summary, we're very pleased with the progress we have made so far this year and look forward to additional value that the team at Parsley will achieve from the combined set of assets in the coming years. We believe the pro forma of Parsley and Jagged Peak company provides Jagged Peak shareholders with premier acreage in both Midland and Delaware sub-basins while providing additional scale and significant operational synergies, and free cash flow in this competitive environment.
I'd like to thank both current and former members of Jagged Peak team for all they've done to put together such a great asset over the years. And we would like to thank our investor base for their support for the 2.5 years we have been a public company.
With that closing remark, I will conclude the call.
[Operator Closing Remarks]