WPX Energy (WPX) will resume completions and raise rig count to increase its Williston Basin activity in the second half of this year, the company said June 25.
WPX has more than 85,000 net acres in the core of the basin, and 119 million barrels of oil equivalent (MMboe) of proved reserves as of year-end 2014.
For $9 million per well in drilling and completions, the company will test 10 million pound stimulations with more stages, entry points and a higher pump rate with sand. This will take place in second-half 2015, the company said, noting that previously, a sand-ceramic proppant blend was used.
Wells in the Middle Bakken and Three Forks formations will use a blended type curve of about 750Mboe, 25% higher per well than 600Mboe original estimate. This is based on historical well performance and successful incremental completion changes in late 2014, WPX added.
Completion modifications include higher-intensity slickwater design targeting increased IP rates and EURs.
Operations costs have been lowered; drilling and completions are estimated to cost $8 million per well with 6 million pound completions. This is 30% lower than the 2014 average.
A second rig will be added to the Williston in August, and a third in November.
Cost savings, and reallocated capital from Piceance Basin operations, are funding additional Williston activity, the company said.
Piceance completions will be reevaluated in light of commodity prices, and there will be a one-rig program there during the second half of 2015.
Total planned capital investments for full-year 2015 remain in line with the previous guidance.
WPX Energy Inc. is based in Tulsa, Okla.
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