Exploration & Production
WPX Commences Bakken Pad Drilling; Reports Marcellus Growth
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WPX Energy announced its unaudited operating and financial results for the second-quarter of 2012.
PRODUCTION
WPX’s oil production continues to climb at a significant level. Overall oil production in the second quarter increased 39 percent vs. second-quarter 2011 and 16 percent vs. the first three months of 2012.
Oil production in the company’s highest rate-of-return basin – the Bakken Shale – averaged 9,500 barrels per day of equivalent in the second quarter. This represents an 83 percent increase vs. a year ago and a 23 percent increase over first-quarter 2012.
Overall second-quarter NGL production was up 10 percent over the prior-year quarter and essentially equal to the first three months of this year.
NGL production in the liquids-rich Piceance Basin was up 9 percent vs. a year ago…
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