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Pure Play Permian Operator Spending $2B to Drill & Complete 260 Wells in 2018
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Concho reported its 2018 plans as well as its Q4 2017 results.
2018 Plans- 2018 Capex: $1.9-2.1 billion (up +18% from $1.7 billion spent in 2017)
D&C: $1.76-1.95 billion (93%) Other: $133-147 million (7%)By Area:
Northern Delaware: $760-840 million (40%) Southern Delaware: $475-525 million (25%) Midland Basin: $570-630 million (30%) New Mexico Shelf: $95-105 million (5%)- 2018 Production: ~245-253 MBOEPD*
For 2018, expecting crude oil production growth of approximately 20% and total production growth of 16% to 20%* This is an estimate due to Concho not releasing its exact production guidance for the full year 2018
- Well Plans: Drill 260 gross wells
- Average 22 rigs in 2018 / The company is currently utilizing six completion crews.
Q4 2017 Highlights For fourth…- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
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