WPX completed a total of 19 Williston drilled-but-uncompleted wells during full-year 2016, including 14 in the fourth quarter.MORE 4Q HIGHLIGHTS
Nine 3-mile laterals on the Peterson, North Segment and Olive Mae pads had a combined average peak rate of 1,900 Boe/d. Ten 2-mile laterals on the Wells, Helena Ruth Grant and Owl Comes Out pads had a combined average peak rate of nearly 2,600 Boe/d.
According to publicly reported information, WPX’s new Williston wells in 2016 ranked first in the basin for cumulative oil production over 90-day and 180-day periods.
The 90-day data was derived from more than 400 locations, including nine WPX wells. The 180-day data was derived from nearly 250 locations, including six WPX wells. These results highlight the success of how WPX continues to evolve its completion designs.
WPX’s Williston Basin production comes from the Bakken and Three Forks formations. Approximately 85 percent of the production stream is oil.
Williston Basin production averaged 28.8 Mboe/d in the fourth quarter as oil volumes rose 39 percent vs. the third-quarter of 2016. Full-year production in the basin averaged 25.0 Mboe/d.
WPX had 12 spuds in the basin during the fourth quarter, all of which were 2-mile laterals. Spud-to-rig-release times averaged less than 15 days per well, including the company’s two fastest wells in the basin.
WPX plans to invest $240-$260 million in the basin this year to complete an estimated 38-42 wells. The company has two rigs deployed in the basin.
“Some companies change their names and call it good. At WPX, we changed everything except our name. But our new identity, and the goals we’re pursuing, couldn’t be more clear." Rick Muncrief, Chairman & CEO.
Our transfer agent is Computershare. Please contact them at:
P.O. Box 30170, College Station, TX 77842-3170
800.884.4225 or 781.575.2879
Contact Investor Relations