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Operator Details Plan to Drill & Complete 550 Wells In the STACK and SCOOP
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In a presentation posted today from from the Howard Weil conference, Newfield Exploration has detailed a three year outlook for the company, in which it plans to ramp up drilling and completion activity and spend ~$4.2 billion.
Newfield currently has ~1,000,000 net effective acres in the Anadarko Basin (click here for leasehold map).
3 Year Plan Overview: Spend $4.2 billion (90% ($3.78 billion) D&C capital) Complete ~550 net wells in the Anadarko Basin (we estimate 75% STACK (400 wells) / 25% SCOOP (150 wells)) Average well cost of $7.9 million Average EUR of 1.3 MMBOE Grow production 75-100 MBOEPD (oil growth of 25-30%) Newfield's Recent Anadarko Basin Completion TrendNewfield has always been fairly active in Kingfisher County, however, its activity in Garvin County has…
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