RigData Insights

WPX Lowers Bakken Well Costs, Outperforming 2018

  • Thursday, November 7, 2019
  • Posted By Greg Tsichlis

WPX Williston Basin Bakken

Enverus Bakken Scout, November 5, 2019‚Äč

WPX Energy believes its Williston Basin economics are the best in the basin. Its current well costs are $6.7 million for 2-mile laterals, including drilling, completions, facilities and artificial lift.

 

The company pointed to its Bird Bear pad as demonstrating the quality of its results. The Bird Bear 35-26HB well delivered the highest initial 24-hour rate of Q3 for the company at 5,664 boe/d (81% oil). The well was one of six on the pad with IP24s averaging 4,600 boe/d and IP30s averaging 2,851 boe/d.

 

“In the first-quarter call, we showed early-time results of our 2019 drilling program compared to 2018,” CEO Clay Gaspar said on WPX’s Q3 earnings call. “Now with 180 days of additional production, the results continue to outpace very impressive 2018 numbers. We continue to demonstrate that our Williston position is a true economic epicenter of the basin.”


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