Exploration & Production | Drilling / Well Results | Top Story | Quarterly / Earnings Reports | Second Quarter (2Q) Update
Newfield's SCOOP/STACK Spending Pays Off as Production Soars
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Newfield Exploration Company has reported that the company's second quarter 2014 production from the Anadarko Basin increased more than 30% over the first quarter of 2014 and is expected to more than double year-over-year.
Newfield's second quarter net production in the Anadarko Basin averaged 39,000 BOEPD compared to 29,500 BOEPD in first quarter of 2014. The Anadarko Basin is Newfield's largest investment region in 2014 (more than $750 million), constituting approximately 45% of planned total investments.
The Company is planning to drill about 70 wells in the SCOOP and STACK plays and exit 2014 with net production of nearly 50,000 BOEPD.
The SCOOP and STACK plays offer multiple "stacked" geologic horizons for exploitation. The Company continues to add to its acreage position in the…
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