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Fresh Off Record Liquid Production, WPX Increases Production Guidance
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WPX released its Q2 results where it focused on the company's favorable production results as well as successful test results from wells using updated completion methods.
Highlights Include:
- All time high for company's liquid production - total liquids production (oil and NGL) was 72,400 bbls/d in Q2, which is 17% higher than its previous best liquids production of 62,000 bbls/d in Q4 2015.
- Raising full year oil guidance from 52,000 to 56,000 to 57,000 to 60,000 bbls/d, which increases the year-over-year oil growth rate to 40%
- Oil production for Q2 was 58,600, a 27% increase from Q1 and 43% higher than Q2 2016
- Natural gas production for Q2 was 203 mmcf/d, down 4% from Q1 2017 and down 1% from Q2 2016
Williston
WPX is currently running 2 rigs in the Williston. During Q2, the company completed 14 wells, averaging 9,875 feet per lateral. Production from the quarter averaged 34.9 mboe/d, up 19% from 29.4 mboe/d in Q1 2017. Six wells from the Estatis pad posted a 24 hour peak IP average of 2,809 boe/d (81% oil) and 30 day cumulative production averaging 53,303 boe per well. In this pad, the Estatis 32-29HA well posted the highest IP with a 24 hour high of 3,521 boe/d.
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