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Bakken Operator Talks 2020 Plans; Well Count, Production Down YOY
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Enerplus Corp. has detailed its 2020 capital plan.
2020 DetailsThe company will be slightly more active from a drilling perspective (+7%) but expects spending and production to decline 13% and 3%, respectively.
2020 Capital and Operating PlanEnerplus' high quality position in North Dakota will continue to attract the majority of the Company's capital spending in 2020. Enerplus has allocated 82% of its 2020 capital budget to its North Dakota development to drill 41 to 46 net wells and bring approximately 45 net wells on production. Sustained improvements in drilling cycle times, completion efficiencies and cost reductions are continuing to drive well costs lower. Enerplus expects its 2020 well costs to average US$7.2 million, approximately US$400,000 lower than its 2019 average.
Enerpl…
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