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Newfield Talks Bakken Drilling Efficiencies; Updates Eagle Ford Ops
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Newfield Exploration has reported a second quarter 2014 update on its Williston Basin and Eagle Ford operations.
Williston BasinWilliston Basin net production in the second quarter of 2014 averaged 18,100 BOEPD, up 21% over its first quarter 2014 average of 14,900 BOEPD. Year-over-year production in the Williston Basin has increased more than 50%. Based on the strength of well performance and field-level execution, Newfield increased its 2014 Williston Basin growth outlook by an additional 4%. The Company expects its 2014 volumes in the Williston Basin to increase 41% over 2013 levels.
Newfield continues to see drilling efficiencies through execution of its SXL development campaign in the Williston. Year-to-date, SXL well (10,000' lateral lengths) costs are averaging $7.9 million…
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