WPX Energy Inc., Tulsa, has added to its San Juan Gallup acreage in New Mexico with the purchase of another 14,300 net acres from an undisclosed seller for about $26 million.
The purchase increases WPX’s owned or controlled position to about 100,000 acres in the area and also represents an estimated 100 gross drilling locations, boosting to 500 the tally of sites the company has in the San Juan Gallup area.
Since then, WPX has lowered its drilling times on Gallup wells by 75%. The company recently drilled two Gallup wells in less than 8 days each. During the second quarter, WPX is averaging 9.8 days/well so far, it said.