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WPX Ups Bakken Inventory; Talks Rockies Drilling Enhancements
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WPX Energy reported results for the second quarter of 2014 reflect a 57 percent jump in domestic oil production and stronger than expected natural gas production vs. a year ago.
As a result of well performance, enhanced pad design, larger stimulations and recent technical work in the company’s oil operations, WPX is:
Adding approximately 200 drilling locations to its Williston Basin inventory Increasing plans for Gallup oil play spuds from 29 to 40 this year using the same rig count Raising guidance for 2014 domestic oil production growth from 40% to 55%During the second quarter, oil and liquids (NGL) sales accounted for 47 percent of WPX’s total product revenues. Domestic oil revenue grew 60 percent quarter-over-quarter from $121 million a year ago to $194 million in second-quarter…
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