Plains Exploration & Production Co., Houston, (NYSE: PXP) reports that its average daily sales volumes was approximately 89,000 barrels of oil equivalent per day (BOE/d) for third-quarter 2010, up approximately 5% from 85,000 BOE/d in second-quarter 2010.
In the Texas Panhandle Granite Wash development, Plains Exploration & Production is currently operating five rigs drilling horizontal wells to develop its inventory of more than 150 potential locations. The company plans to spud up to 19 horizontal wells in 2010 and more than 25 wells in 2011. Three wells have been drilled, completed and are producing, and three additional wells are waiting on completion.
In California, the company continues to develop its onshore projects in both the Los Angeles and San Joaquin basins. During the second half of 2010, Plains Exploration & Production plans to drill up to 40 wells in the San Joaquin Valley and up to 20 wells in the Los Angeles Basin. As anticipated, the company recently received project approval from the California Division of Oil, Gas and Geothermal Resources for its next phase of its diatomite development in Cymric Field.
Plains Exploration & Production operates primarily in California, in Texas, in Louisiana and in the Gulf of Mexico.
Recommended Reading
Woodside Reports Record Q3 Production, Narrows Guidance for 2024
2024-10-17 - Australia’s Woodside Energy reported record production of 577,000 boe/d in the third quarter of 2024, an 18% increase due to the start of the Sangomar project offshore Senegal. The Aussie company has narrowed its production guidance for 2024 as a result.
Investor Returns Keep Aethon IPO-ready
2024-10-08 - Haynesville producer Aethon Energy is focused on investor returns, additional bolt-on acquisitions and mainly staying “IPO ready,” the company’s Senior Vice President of Finance said Oct. 3 at Hart Energy’s Energy Capital Conference (ECC) in Dallas.
Optimizing Direct Air Capture Similar to Recovering Spilled Wine
2024-09-20 - Direct air capture technologies are technically and financially challenging, but efforts are underway to change that.
Bechtel Awarded $4.3B Contract for NextDecade’s Rio Grande Train 4
2024-08-06 - NextDecade’s Rio Grande LNG Train 4 agreed to pay Bechtel approximately $4.3 billion for the work under an engineering, procurement and construction contract.
Sheffield: E&Ps’ Capital Starvation Not All Bad, But M&A Needs Work
2024-10-04 - Bryan Sheffield, managing partner of Formentera Partners and founder of Parsley Energy, discussed E&P capital, M&A barriers and how longer laterals could spur a “growth mode” at Hart Energy’s Energy Capital Conference.