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Newfield Talks 2018 Capex, Drilling Plans; Bets Bulk on STACK
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Newfield has reported its outlook for 2018.
2018 Plans- 2018 Capex: $1.3 billion (up +18% from $1.1 billion spent in 2017)
D&C: $1.105 billion (85%) Other: $195 million (15%)By Play
SCOOP / STACK: $884 million (80% of D&C) Rocky Mountains (Williston / Uinta): $221 million (20% of D&C)- 2018 Production: 170 - 183 MBOEPD
Newfield expects 2018 domestic production will increase by 14 - 18% over 2017. Domestic oil production growth is expected to be 20 - 25% year-over-year. Importantly, the 3YR Plan is expected to deliver a compound annual growth rate (CAGR) in debt-adjusted production per share of 15 - 20% over the plan period.- 11-12 Rigs Running (10-11 Anadarko Basin / 1 Uinta)
- Drilling Plans: Drill 180-190 wells
STACK/SCOOP: Newfield expects to place about 150 wells on…- ✓ Full news archive — U.S., Canada & international coverage
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