Exploration & Production | Drilling / Well Results | Top Story | Quarterly / Earnings Reports | Second Quarter (2Q) Update
Newfield Touts Uinta SXL Wells 'Best in Class'; Cites Longer Laterals
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Newfield Exploration Inc. has reported a second quarter update on its Uinta Basin operations.
Uinta Basin second quarter net production averaged 26,100 BOEPD, up 5% from an average of 24,900 BOEPD in the first quarter of 2014. Based on strong well performance, primarily from the Central Basin, Newfield nearly doubled its beginning of the year guidance for the basin and now expects Uinta production to grow about 10% year-over-year.
Planned 2014 capital investments of $400 million are focused on two areas – the waterflood development of the Greater Monument Butte Unit (GMBU) and recent drilling in high-potential, horizontal plays in the adjacent Central Basin.
Newfield released results on its five most recent SXL wells completed in the Central Basin's Uteland Butte and Wasatch plays. The…
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