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Newfield Touts New Infill Well Design; Produces Company Record of 159 MBOEPD
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Newfield reported its Q3 2017 results.. Q3 highlights include:
Domestic net production was 159,000 BOEPD (41% oil) in Q3, which exceeded the midpoint of guidance by 4,650 BOEPD CapEx for Q3 was $316mm, putting the company on track to hit its $1.1 billion capex guidance Completed 40 wells in the Anadarko in Q3 and expects to complete between 35 - 40 wells each quarter moving forward. Is Newfield Getting Oilier?Despite significant production results, Newfield's production mix is not getting any oilier. The well results from Q3 had oil mixes of 36% for the McClelland infill pad targeting the Woodford, 36% for the Hollinsworth pad targeting the Woodford , and 67% for the HBP Hoile well in the STACK.
Previously, Newfield's production mix guidance was at 41% oil. Since May, however, the…
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