Exploration & Production | Drilling / Well Results | Top Story
Energen to Spend Big on Midland Wolfcamp Drilling in 2014
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After announcing a 2014 capital budget of $950 million to $1 billion, Energen Corp. Chairman and CEO James T. McManus II provided the following comments:
"Although our capital drilling budget for 2014 has not been completed and is subject to change, our current thinking is that we will accelerate our horizontal Wolfcamp program in the Midland Basin by running 4-6 rigs in the play. As we transition to a horizontal program in 2014, we will reduce our capital investment in our vertical Wolfberry program. In the Midland Basin, production growth in 2014 with a 6-rig program may exceed 40 percent.
"At this time, we do not anticipate investing any material capital in our legacy waterflood assets in the Central Basin Platform in 2014. Production declines there could be between 10 and 15 percent…
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