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Thursday, October 9, 2014

WPX Includes The Bakken As One Of Its Trio Of US Plays -- October 9, 2014

From the discussion board, this link to Tulsa World: the Bakken will remain the third leg of WPX's three-legged stool for the next five years.
WPX Energy Inc. is staking its future on a trio of core oil and gas plays in North Dakota, New Mexico and Colorado, the Tulsa-based oil and gas producer announced Wednesday.
The new five-year strategy will simplify WPX’s geographic focus and expand returns, margins and cash flows over the next five years, according to the plan. The company’s core resource plays have an estimated 16,000 remaining drillable locations, 480,000 net acres and more than 14 trillion cubic feet equivalent of proved, probable and possible oil and gas reserves as of December 2013.
Those core plays are the Williston Basin in North Dakota, the San Juan Basin in New Mexico and the Piceance Basin in Colorado. WPX holds more than 220,000 net acres in leases and 4,600 wells in the Piceance.
I track the Piceance here, with a great graphic.

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