Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Newfield Exploration to Spend $400 Million in the Uinta Basin
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Newfield Exploration Co. has reported details on its Uinta Basin development plans for the year.
"About 26% of our proved reserves are located in the Uinta Basin. We have approximately 225,000 net acres in the Uinta Basin, and our operations can be divided into two areas: the Greater Monument Butte Unit (GMBU) waterflood and an area to the north and adjacent to the GMBU that we
refer to as the Central Basin.
"We entered the Uinta Basin through a 2004 acquisition of the Greater Monument Butte Unit, a large waterflood field. Since that time, we have drilled approximately 1,700 wells in the unit and today have approximately 1,300 productive oil wells and approximately 1,100 water injection wells. The primary producing horizon in the unit is the Green River.
"Through an acquisition in…
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