Williston Basin
Newfield's net production in the Williston basin averaged 10,500 BOEPD in the fourth quarter of 2012. To date, the company has drilled 93 wells in the basin, of which approximately half are super extended laterals (SXLs). The table below details all Newfield-operated Williston basin development wells completed from 2008 through today:
Well Type
|
# Wells
|
Avg. Gross IP
(24-Hours)
|
Avg. Gross
30-Day Cum
|
Avg. Gross
60-Day Cum
|
Avg. Gross
90-Day Cum
|
XL (< 5,000 ft)
|
36
|
2,009 BOEPD
|
19,552 BOE
|
31,995 BOE
|
41,290 BOE
|
SXL (> 5,000')
|
42
|
2,560 BOEPD
|
29,060 BOE
|
47,492 BOE
|
62,296 BOE
|
Newfield continues to perform well in the field, with "spud to total depth" on its SXL wells averaging about 25 days. Completed well costs continue to reflect efficiency gains and the company estimates that its 2013 wells can be drilled and completed for about $10 million gross. Recently, a record well was drilled and completed for approximately $9.2 million.
Newfield expects to invest approximately $230 million in its Williston basin drilling program in 2013. As a result, about 46 wells are planned and production is expected to grow 15% over 2012 levels. Three operated rigs are running today and a fourth rig will be added in March 2013. The company has approximately 41,000 net acres under active development along the Nesson Anticline and areas immediately west of the Nesson. The company is drilling SXL wells from pad locations in the Bakken and Three Forks formations. Additional exploration potential exists in deeper benches throughout the basin.
