Operational Updates
Newfield Exploration Provides Eagle Ford Drilling Update
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Eagle Ford
Newfield has approximately 230,000 net acres in the Maverick Basin of Texas and has been active in Maverick, Zavala and Dimmitcounties since 2010. In early 2012, Newfield commenced a program to test SXLs on its Eagle Ford acreage. Year-to-date, Newfield has drilled and completed four successful SXL wells with lateral lengths of approximately 7,500' in Dimmit County. Newfield has a 100% working interest in all of the SXL wells drilled to date. Recent SXLs are being drilled and cased in as few as 12 days.
The four SXL wells had average initial gross production rates ranging from 750 BOEPD to 1,020 BOEPD gross (approximately 75% oil). Two of the wells have now been on-line for more than 180 days and have averaged 530 BOEPD gross. A third well has been on-line for 120 days…
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