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Crescent Point IDs 2018 Capex; Bets Bulk on Williston Basin
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Crescent Point has detailed its 2018 capital budget. The reduction in activity seems to be concentated in the SW Saskatchewan asset where the company is planning to reduce its planned wells by 60 compared to 2017. The company did however increase its spending on the Williston basin asset. A closer look at the well economics shows why the company has continued to put more capital towards the Williston Basin Asset.
Details:- 2018 Production Guidance: 183,500 boe/d and exit production of 195,000 boe/ (growth of ~5% YOY)
- 2018 Capex: $1.8 billion (up +29% from $1.4B spent in 2017)
$1.61 billion - Drilling & Development $190 million - Facilities & Seismic- Drill 630 net wells (approx)
Williston: 370 (slightly up from 350 in 2017) SW Saskatchewan: 210 (down from 270 in…- ✓ Full news archive — U.S., Canada & international coverage
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