Operational Updates | Capital Markets | Capital Expenditure
WPX Energy Announces First-Quarter 2012 Bakken and Marcellus Drilling Update
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Capital Investment
During first-quarter 2012, WPX made $428 million of capital investments in its domestic operations, predominantly in the Bakken Shale, Piceance Basin and Marcellus Shale. This run rate is expected to decrease during the year as the impact of the company's planned reductions in capital spending take full effect.
For full-year 2012, WPX continues to work within a capital budget of $1.2 billion. As previously announced in February, this will facilitate the addition of a sixth rig in the Bakken Shale at mid-year, as well as an average of five rigs in the Piceance Basin and three rigs in Susquehanna County in the Marcellus Shale.
Development Activity
In the first quarter of 2012, WPX participated in 163 gross (115 net) wells in the United States. This figure represents the…
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