Exploration & Production | Drilling / Well Results | Quarterly / Earnings Reports | First Quarter (1Q) Update
Newfield Maintains Eagle Ford Momentum; Talks Laterals, Well Cost
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Newfield has reported a first quarter 2014 update on its Eagle Ford shale operations.
Eagle Ford net production in the first quarter of 2014 was nearly 11,000 BOEPD. The Company is running a single-rig program to develop its West Asherton field and Fashing area. Production is expected to maintain current levels throughout 2014 and grow approximately 30% year-over-year. Newfield expects to drill about 20 wells during 2014.
Current 7,500' lateral well costs are averaging approximately $6.7 million, including artificial lift and facilities costs.
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