By OGJ editors
HOUSTON, Feb. 5 -- Houston independent Newfield Exploration Co. announced a $1.6 billion capital investment program for 2008, of which $620 million is allocated to the US Midcontinent region.
Newfield plans to devote $460 million of its Midcontinent spending to the Woodford shale in southeastern Oklahoma's Arkoma basin. The company has 165,000 net acres in the Woodford shale.
The Woodford program calls for 100 horizontal wells to be drilled and operated by Newfield this year. Newfield also plans to participate in 60-70 nonoperated wells there.
Newfield plans to spend $310 million in its Rocky Mountain region operations, $245 million on land wells across Texas, and $240 million on Gulf of Mexico projects.
Internationally, Newfield plans to spend $155 million. In Malaysia, Newfield plans to start production this year in Puteri and East Belumut-Chermingat fields.
