WoodMac: Wolfcamp spending could surpass that of Bakken by 2017

08/04/2014
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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