Tuesday, February 19, 2013

Newfield's Fourth Quarter and Full Year (2012) Financial and Operating Results

From the press release:

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
Avg. Gross
30-Day Cum
Avg. Gross
60-Day Cum
Avg. Gross
90-Day Cum
XL (< 5,000 ft)
2,009 BOEPD
19,552 BOE
31,995 BOE
41,290 BOE
SXL (> 5,000')
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.


  1. http://www.ohio.com/blogs/drilling/ohio-utica-shale-1.291290/updates-on-continuing-protest-in-ohio-s-washington-county-1.374535

    A fundraising appeal.

    This seems to be a Magnum Hunter well.

    Anon 1

    1. At the link: typical base to whom the president listens when making decisions on oil and gas.

    2. And you thought it wasn't about ND. ;-)

      "Arrested were Peter Garcia, 34, of Minot, N.D. ..."

      Oddly, Warden refused request to release those arrested.

      "Warden was initially unable to convince Ebert to come down from his pole, and Ebert was making unreasonable demands, said Warden.

      "He wants us to let go all the people we arrested and that's just not going to happen," he said, as the situation was still unfolding Tuesday afternoon."

      "Though hotly debated, not everyone is opposed to the fracking industry, which is seen as an economic boost to communities.

      Watching the protest from nearby, local resident James Males argued that there are better causes to protest."


      anon 1

    3. Wow, very, very interesting....Peter Garcia of Minot...."Garcia" --- another common Scandinavian name in North Dakota....