Exploration & Production | Quarterly / Earnings Reports
Newfield Eagle Ford 2013 Development Strategy
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Newfield provided the following update during its 1Q2013 earnings call.
"In the Eagle Ford, our development efforts are focused on the West Asherton field and we are seeing exceptional improvements in our returns. Today, we are running 2 operated rigs and drilling SXL wells in common pad locations. We are right on target with our Eagle Ford plan and expect to drill about 35 operated wells in the play in 2013.
"During the first quarter, we drilled 6 new Eagle Ford wells with average lateral lengths of about 7,500 feet. These wells are in various stages of completion today with one of the pads in early flowback. Our operation teams did an excellent job for us in the first quarter and our well costs were lowered by more than $400,000 when compared to our average cost in 2012. Recent SXL…
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