Newfield Exploration Company (NFX) issued an operations update on its activities in the Woodford Shale. The company said that 90% of its acreage is held by production and it is currently operating four rigs in the Arkoma portion of the Woodford Shale. Newfield Exploration Company is currently producing 190 million cubic feet equivalents per day from its acreage in the Woodford Shale.
Newfield Exploration Company has drilled more than 350 horizontal wells and is focused on drilling super extended laterals (SXL), or laterals with a length greater than 5000 feet. The company said that the acreage lateral in the Woodford Shale in 2010 would be approximately 6500 feet. Well costs are between $8 million and $10 million per well.