Rig Count | Top Story | Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Capital Expenditure - 2017 | Drilling Contractor
SCOOP / STACK E&P Ups Budget 81% for 2017; $1.0B, 11 Rigs
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Newfield Exploration has outlined its 2017 budget, which is focused on the SCOOP and STACK plays in the Anadarko Basin of Oklahoma.
Key Points: 2017 capex of $1.0 billion (up +81% from $552 million spent in 2016) Newfield expects to drill 85 90 wells in STACK and up to 50 wells in SCOOP Domestic net production for 2017 is expected to average 142,500 145,500 BOEPD, or an increase of 35% Newfield expects to run about 10 operated rigs in the Anadarko Basin in 2017 and one rig in the Williston Basin Plan Highlights: Newfield's capital budget for 2017 is approximately $1.0 billion, excluding about $120 million in capitalized interest and internal costs. Substantially all of the budget is allocated to domestic operations and approximately 85% is earmarked for SCOOP and STACK. Newfield…- ✓ Full news archive — U.S., Canada & international coverage
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