"Everyone here owns our results. All of us at WPX are accountable for identifying what we can do better, as well as the solutions to make it happen."SEE REPORT
WPX now plans to average 137,000-143,000 bbl/d in the 4Q while reducing capital spending by another $50 million to a new estimate of $1.0-$1.1 billion for 2020.NEWS
“Our proposed merger with Devon Energy is on track and is proving to be a transformational event not only for our two companies, but for our industry as a whole based on events that have unfolded since our announcement,” said Rick Muncrief, WPX’s chairman and chief executive officer.
WPX’s Delaware production in the Permian averaged 139.1 Mboe/d in the third quarter compared with 143.7 Mboe/d in the most recent quarter and 96.7 Mboe/d a year ago.
Four wells in the 3rd Bone Spring Lime hit respective 24-hour highs of 4,255 Boe/d, 3,804 Boe/d, 3,697 Boe/d and 3,602 Boe/d ranging from 53 to 65 percent oil. After 30 days of production, the four wells had a combined average of 3,004 Boe/d per well.
Williston Basin production averaged 68.7 Mboe/d in third-quarter 2020 compared with 63.3 Mboe/d in the most recent quarter and 76.8 Mboe/d a year ago.
The highest 24-hour rate for the third-quarter Williston completions was 8,686 Boe/d (84 percent oil) on the Omaha Woman 24-13-12 HD well, which is a three-mile lateral.SUMMARY
Adjusted EBITDAX (non-GAAP) hit $389 million in the 3Q, up 8% from $361 million a year ago.
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