Drilling & Completions | Well Lateral Length | Quarterly / Earnings Reports | Production | Proppant | Second Quarter (2Q) Update | Forecast - Production | Well EUR
Fresh Off Record Liquid Production, WPX Increases Production Guidance
WPX released its Q2 results where it focused on the company's favorable production results as well as successful test results from wells using updated completion methods.
Highlights Include:
- All time high for company's liquid production - total liquids production (oil and NGL) was 72,400 bbls/d in Q2, which is 17% higher than its previous best liquids production of 62,000 bbls/d in Q4 2015.
- Raising full year oil guidance from 52,000 to 56,000 to 57,000 to 60,000 bbls/d, which increases the year-over-year oil growth rate to 40%
- Oil production for Q2 was 58,600, a 27% increase from Q1 and 43% higher than Q2 2016
- Natural gas production for Q2 was 203 mmcf/d, down 4% from Q1 2017 and down 1% from Q2 2016
Williston
WPX is currently running 2 rigs in the Williston. During Q2, the company completed 14 wells, averaging 9,875 feet per lateral. Production from the quarter averaged 34.9 mboe/d, up 19% from 29.4 mboe/d in Q1 2017. Six wells from the Estatis pad posted a 24 hour peak IP average of 2,809 boe/d (81% oil) and 30 day cumulative production averaging 53,303 boe per well. In this pad, the Estatis 32-29HA well posted the highest IP with a 24 hour high of 3,521 boe/d.
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