Exploration & Production | Operational Updates | Capital Markets | Capital Expenditure
W&T Offshore Detail 2014 Plans for Midland Wolfcamp and GOM
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The 2014 capital budget is $450 million, not including any potential acquisitions, and is in line with the 2013 capital budget we announced at the beginning of that year. Due to our successful exploration programs in 2012 and 2013, we anticipate allocating more capital to deepwater development programs in 2014 and beyond. Additionally, we expect to direct a higher percentage of our capital program to our larger oil dominated projects such as Ship Shoal 349 "Mahogany" development and field expansion and onshore oil development at our Yellow Rose Field in West Texas.
In 2014, we anticipate approximately 52% of the budget will be allocated towards development, 42% to exploration and 6% for seismic, leasehold, and other costs. We are allocating approximately 68% of the 2014 budget to projects…
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