“We delivered phenomenal growth over the past twelve months as higher oil volumes resulted in better margins and deleveraging."3Q NEWS
Oil revenues of $1.3 billion during the first three quarters of 2018 were 133% higher than the same period a year ago. 3Q 2018 oil volumes were 83,400 bbl/d.PRESENTATION
In the Delaware Basin, WPX had 27 wells with first sales in the basin during the third quarter, including 15 long laterals of at least 1.5 miles each. A third of the first sales occurred in the last half of September. Most of the activity occurred in the Wolfcamp A interval.
Six of the first sales had 24-hour initial production highs exceeding 5,000 Boe/d, including the Lindsay 10-3G-7H well at 6,200 Boe/d (53% oil) and the Lindsay 10-3E-5H well at 6,100 Boe/d (53% oil). Both are 1.5-mile laterals.
WPX also is seeing favorable results from the Third Bone Spring formation following the completion of two third-quarter wells on separate CBR pads in the company’s core Stateline area. Early-time results are comparable to Wolfcamp A productivity and economics.
The CBR 11-2-1H well in the Third Bone Spring had an initial production high of 4,503 Boe (52% oil) with a 60-day average of 2,955 Boe/d. The CBR 9-4-13H well in the Third Bone Spring had an initial production high of 4,105 Boe/d (54% oil) during its first 20 days.
In the Williston Basin, WPX completed 19 Williston wells during the third quarter – 10 from the Bakken interval and nine from the Three Forks formation. All of the wells are two-mile laterals. The highest initial production rate occurred on the Otter Woman 34-27HG well that posted 4,567 Boe/d (81% oil).
The five-well Otter Woman pad has 60-day cumulative production of approximately 488,000 Boe (81% oil). Initial production on the pad averaged 3,882 Boe/d (81% oil), including the 34-27HG well.
The seven-well Hidatsa North pad has cumulative 30-day production of approximately 513,000 Boe (81% oil). Initial production on the pad averaged 3,531 Boe/d per well, with a high of 4,206 Boe/d on the Hidatsa North 14-23HD well.
The five-well Grizzly pad was completed near the end of the third quarter. Initial production on the pad averaged 3,582 Boe/d (81% oil), with a high of 4,178 Boe/d on the Grizzly 25-36HF well.
Third-quarter completions also included two wells from the three-well Behr pad. It now has 90-day cumulative production of approximately 442,000 Boe (81% oil), with an initial production high of 3,585 Boe/d on the Behr 19-18HUL well.
Our COO Clay Gaspar goes on camera to talk about how we're developing world-class assets in the Permian Basin. You can see the video here.
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