Operational Updates | Drilling & Completions | Capital Markets | Capital Expenditure
W&T Talks Wolfcamp Drilling, 2013 Capital Budget
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W&T Offshore Inc. has approved a 2013 capital budget of $450 million. The Company also announced production guidance for the first quarter of 2013 in a range of 4.3 MMBoe to 4.8 MMBoe and for the full year of 2013 in a range of 17.0 MMBoe to 18.7 MMBoe.
In addition, the Company provided details about its capital expenditure programs and an operational update, which includes positive results in both its horizontal drilling and 40-acre spacing pilot programs, adding value to its Yellow Rose project.
2013 Capital BudgetApproximately 63% of the $450 million capital budget for 2013 is identified as exploratory drilling to drive organic growth of both reserves and production, with the remaining 37% of the budget directed to oil-focused development activities. We anticipate allocating 63% of…
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