ConocoPhillips’ Capital Budget is Eagle Ford Weighted

Lower 48 Spend Favors the Bakken, Eagle Ford, and Permian
ConocoPhillips Eagle Ford Acreage Map

ConocoPhillips Eagle Ford Acreage Map | Click to Enlarge

ConocoPhillips released plans to spend $15.8 billion in 2013.

More than $4 billion will be spent across the company’s U.S. assets in the Bakken, Barnett, Eagle Ford, Niobrara, and Permian Basin areas. Targets in all of those areas are liquids-rich.

If 2012 is a good indication of what to expect in 2013, Conoco will spend as much as 60% of the $4 billion allocated for the U.S. in South Texas. In 2012, the company spent approximately $2.5 billion developing the play.

Conoco’s estimates its 228,000 net acres in the Eagle Ford will yield:

  • 1.8 Billion boe in resources
  • 77% liquids
  • Provide industry leading break-evens of $37/bbl WTI

Read the full press release at conocophillips.com

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R.T. Dukes

R.T. Dukes

Managing Editor at EagleFordShale.com
R.T. is the managing editor of EagleFordShale.com. In prior roles, he advised major oil companies on strategy, the macro business environment, and opportunity screening. 2503 Robinhood, Houston, TX, 77005, U.S.A. | Telephone: 832.429.4790

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