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WPX Talks 2014 Spending; Hones In on Williston, Piceance Basins
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WPX Energy has reported a 2014 capital plan of $1.47 billion (midpoint), with approximately 85 percent of spending allocated to Williston, Piceance and San Juan Gallup development.
2014 Highlights: 39 percent planned increase in domestic oil volumes 62 Williston Basin oil wells (gross) planned – an increase of 25 percent vs. 2013 29 San Juan Gallup oil wells planned – nearly doubling 2013 activity Recent transactions increase Gallup oil acreage by 40 percent to 43,000 acres 285 natural gas wells (gross) planned in the Piceance, including up to 10 Niobrara wells 6 percent expected exit rate growth in the Piceance vs. 2013 exit rateWPX expects these investments to drive an estimated 2014 December exit rate of 1,310 MMcfe/d in total production, which is 5 percent higher than its 2013 exit…
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