Scandoil  

WPX Energy to increase activity in the Williston Basin


Published Jun 26, 2015
[an error occurred while processing this directive]

Edit page New page Hide edit links

WPX Energy-2

WPX Energy plans to increase its activity in the Williston Basin during the second half of 2015 by resuming completions and increasing its rig count from one to three before year-end.

The decision follows significant process improvements, structural changes to lower costs, successful discussions with key vendors, a technical analysis of WPX's well performance that led to higher estimated ultimate recoveries (EURs) and favorable results from larger stimulations.

WPX has rapidly driven costs out of its Williston operations. The company's estimated drilling and completion costs in the basin are approaching $8 million per well with 6 million pound completions, representing a decrease of more than 30 percent vs. its average in 2014.

The company is now recognizing a blended type curve of approximately 750 Mboe for its wells in the Middle Bakken and Three Forks formations, up 25 percent per well from previous estimates of 600 Mboe. This is based on historical well performance and the success of incremental completion changes WPX performed in late 2014.

Tags: WPX Energy




Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml