Top Story | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Program-Rig Count | Capital Expenditure - 2018
Continental Ups Budget Nearly 20% for 2018; 21 Rigs Running
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Continental detailed its 2018 capex and guidance.
2018 Plans- 2018 Capex: $2.3 billion (up +18% from $1.95 billion spent in 2017)
D&C: $2.0 billion (70% or $1.4B is being spent on SCOOP / Bakken ops) Other: $300 million- 2018 Production: 17% to 24% YOY production growth to 285,000 to 300,000 BOEPD
- Drill 260 gross wells / Complete 305 gross wells
- 21 Rigs Running
2018 Operating PlanBakken
- Six rigs running / 6.5 completion crews
- Drill 142 gross operated wells
- Complete 187 gross (113 net) operated wells
During the year the Company plans to work down its inventory of drilled but not producing wells, and at year-end 2018, the Company expects to have 120 gross operated Bakken wells in progress in various stages of completion, of which 44 gross wells will have been completed but…
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