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WPX to Spend +30% More in 2019; Touts 5,000 BOEPD Delaware IP24s, Bakken Wells
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WPX Energy reported its Q3 2018 results as well as its 2019 plans.
2019 Plans - Capex / Production Plans Up +30% from 2018WPX has detailed its preliminary plans for 2019, including:
- 2019 Capex: $1.45-1.65 billion (up +30% from 2018)
D&C / Facilities: $1.35-1.45 billion D&C NonOp: $50-100 million Midstream: $50-100 millionWPX also noted it has additional discretionary capital of $250-350 million (this is not included in the Capex estimate).
- 2019 Production Guidance: 159-171 MBOEPD (accounts for +30% growth at the midpoint from 2018's guidance)
- Rig Count: WPX is planning to keep rig count flat at 10 rigs running
Delaware Basin - Touts 5,000 BOEPD IP24s Delaware production averaged 75.4 Mboe/d in Q3, which was 81% higher YOYKey Well Results:
Six of the first sales had IP24…
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