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DJ Basin E&P Adding Second Rig in 2017; 70-75 Wells Planned
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Bill Barrett reported its Q4 2016 results as well as its 2017 outlook.
2017 Plans:The capital program will primarily be focused on XRL well development in the DJ Basin with expenditures in the UOP consisting of planned well recompletions during the second quarter of 2017.
Capital expenditures of approximately $255-$285 million (comparable to 2016)Assumes the addition of a second drilling rig in the second quarter. Approximately 70-75 gross XRL wells are expected to be drilled in the NE Wattenberg field of the DJ Basin. XRL well costs are expected to average approximately $4.75 million per well; reflecting enhanced completion designs and potential increases in service costs, partially offset by additional drilling efficiencies. First quarter of 2017 capital expenditures are expected to…
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More Capital Expenditure - 2017 News
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