WoodMac: Wolfcamp spending could surpass that of Bakken by 2017

Activity in the Wolfcamp shale is expanding and, by as early as 2017, could overtake the Bakken in tight oil spending, according to analysis on the West Texas-New Mexico play from Wood Mackenzie. Wolfcamp capital expenditures are expected to eclipse $12 billion during this year as rigs ramp up, ranking the Wolfcamp third behind the Bakken and Eagle Ford. That total is equal to about 80% of what will be spent in the Bakken this year (OGJ Online, Apr. 2, 2014). Crude and condensate production from the play is expected to average 200,000 b/d during the year and reach 700,000 b/d by the end of the decade. WoodMac notes that the Wolfcamp is still in its early development phase with less than 1...

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