Oil and NGL sales accounted for 93% of 4Q total product revenues. Total oil sales in 2018 were nearly $1.8 billion, which was more than double 2017.PRESENTATION
WPX Chief Operating Officer: "Our ESG progress is absolutely integral to our business performance and our social license to operate."2019 ESG REPORT
WPX had 87 first sales in the Delaware Basin during 2018, including 14 in the fourth quarter comprised of eight completions in the Wolfcamp A interval, three X/Y wells, two wells in the Wolfcamp B interval and one Third Bone Spring well.
There were 11 two-mile laterals in the fourth-quarter completions. Eight of the completions in the quarter had 24-hour peak rates in excess of 3,000 Boe/d. The highest rate occurred on the Pecos State 39-46B-2H well in the Wolfcamp A interval which posted 5,478 Boe/d (48% oil).
The average peak rate on the four-well Pecos State pad was nearly 4,500 Boe/d, including 5,210 Boe/d on the Pecos State 39-46A-1H well.
WPX also completed another successful well in the Third Bone Spring formation. The CBR 22-27D-3H well had a 24-hour peak rate of 4,571 Boe/d (49% oil) and 30-day cumulative oil production of approximately 53,000 barrels. WPX’s Third Bone Spring results are comparable to its Wolfcamp A results.
WPX had 60 first sales in the Williston Basin during 2018, including 18 in the fourth quarter. Twelve of the completions in the fourth quarter had 24-hour peak rates in excess of 3,000 Boe/d. The highest rate occurred on the Lead Woman 23-14HUL well which posted 4,515 Boe/d (81% oil).
The average peak rate on the three-well Lead Woman pad was nearly 4,000 Boe/d, including 4,330 Boe/d on the Lead Woman 23-14HA well and 3,100 Boe/d on the Lead Woman 23-14HQ well. Sixty-day cumulative oil production on the pad was approximately 342,000 barrels.
Peak rates on the four-well Lawrence Bull pad averaged nearly 3,600 Boe/d (81% oil) with a high of 4,395 Boe/d on the Lawrence Bull 1-12HD well. Thirty-day cumulative oil production on the pad was approximately 199,000 barrels.
Peak rates on the six-well Howling Wolf pad averaged 3,300 Boe/d (81% oil) with a high of 4,489 Boe/d on the Howling Wolf 28-33HD well. Sixty-day cumulative oil production on the pad was approximately 382,000 barrels.
WPX is reducing 2019 planned capital spending by more than $350 million from a prior midpoint estimate of $1,550 million to $1,100-$1,275 million.
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P.O. Box 30170, College Station, TX 77842-3170
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