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Whiting Ups Sand Volumes in the Bakken; Strong IPs Reported
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Whiting estimates second quarter 2015 production totaled 15.5 million barrels of oil equivalent (MMBOE) or 170,245 barrels of oil equivalent per day (BOE/d). This represents a 2% increase over the first quarter 2015 despite non-core property sales of 8,300 BOE/d during the quarter and exceeds the high end of prior guidance.
Based on these strong results, we now project full-year 2015 production of 59.7 MMBOE or 7% growth over 2014. Adding back asset sales, this guidance equates to a 10% growth rate over 2014. We are also increasing our 2015 capital budget forecast to $2.3 Billion from $2.0 Billion. The $300 million increase consists of a $158 million increase in our operated drilling budget, a $120 million increase in our non-operated drilling budget, and $22 million of rig termination…
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