Well Lateral Length | Top Story | Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Activity | Capital Expenditure - 2017 | Drilling Program
Permian E&P Amps Up Delaware Basin Rigs for 2017; Less in the Midland
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Concho Resources has detailed its 2017 spending plans and outlook.
For 2017, Concho has planned a capital budget of $1.6 billion but expects capital spending to range between $1.4 billion and $1.6 billion (this is slightly higher than its 2016 capex of $1.2-1.4 billion).
D&C budget accounts for 90% of total ($1.26-1.44 billion)
Spending by Play ($MM): N. Delaware Basin: $441-504 S. Delaware Basin: $315-360 Midland Basin: $378-432 New Mexico Shelf: $126-144 Rigs (2016 vs. 2017): Increasing Lateral Lengths by ~20%Concho expects to grow oil volumes by more than 20% year-over-year and total company production growth of 17% to 20%. Approximately 90% of capital will be directed to drilling and completion activity.
Northern Delaware BasinTarget Plays: Wolfcamp & Avalon
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