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Eagle Ford Operator Cuts 2024 Well Planned by 30%
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During it's 4th quarter annoucement, Murphy provided a look into it's 2024 development plans. Onshore capital will be flat, however well count will decline 31%.
As you can see from the table below, while the company will reduce the number of Eagle ford wells it brings online by ~30%, the company is actually increasing its well drilled by 44%. Corporate production will be down ~1%.
** Production & Capex is mid-point of guidance.
** Source : Shale Experts Database/Company Guidance
"2024 CAPITAL EXPENDITURE AND PRODUCTION GUIDANCE
The 2024 CAPEX plan is expected to be in the range of $920 million to $1.02 billion. Full year 2024 production is expected to be in the range of 180 to 188 MBOEPD, consisting of approximately 96 MBOPD oil and 106 MBOEPD liquids volumes, equating to 52…
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