Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Activity | Drilling Program
Bakken-Focused Operator Suspends Completions; Cuts CapEx 80%
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Whiting today provided the following guidance for 2016.
2016 Capital Budget and Production ForecastWhiting projects a 2016 capital budget of $500 million, a decrease of approximately 80% from its 2015 capital expenditures. The Company expects to invest $440 million of the 2016 capital budget on development activity primarily in its core Bakken and Niobrara areas, which represents 88% of the total budget. This capital budget reflects suspending completion operations commencing in the second quarter.
Drill Uncompleted WellsAt year-end 2016, the Company projects an inventory of 73 drilled uncompleted wells in the Williston Basin Bakken/Three Forks play and 95 drilled uncompleted wells in the DJ Basin Niobrara play. This inventory of drilled uncompleted wells should afford Whiting a highly…
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