Drilling & Completions
Cost Inflation, Basin Differentials Drives Noble to Move Capital from Permian to DJ Basin
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Noble Energy is reporting that the company is switching capital from its prized Delaware Basin asset to the DJ Basin until the pipeline logjam has been resolved.
"Given the industry pressures in the Permian due to widening basin differentials and service cost inflation, we plan to moderate our activity in the Delaware Basin.
"We will be reducing planned completions later this quarter and into 2019 to better align our activity with expected timing of pipeline additions. We will reallocate activity into our other onshore areas, primarily the DJ Basin."
The company did talk about securing oil take away from the Delaware planned for 2019.
ProductionAnother interesting piece of information is that production growth is slowing significantly on Noble's Delaware Basin asset.
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