Question-and-Answer Session
Operator
(Operator instructions) And we will take our first question from Brian Singer with Goldman Sachs.
Brian Singer – Goldman Sachs
Thank you. Good morning.
Lee Boothby
Good morning Brian.
Brian Singer – Goldman Sachs
Looking out to 2010, how are you thinking about ongoing gas drilling in the Woodford and in your legacy areas beyond completing your Woodford inventory, have uncompleted wells?
Lee Boothby
Well, I would say that we have articulated previously that we need to do our part to maintain a healthy and viable service support structure. So we're going to continue operations in our major core areas. Our hedge position allows us to do that confidently. We are well hedged into 2010. We will adjust rig counts and activity levels based upon our views of the market at that time.
I think when you carry that through to decisions that we're making, the note about increasing oil rig counts will lead to a decrease in gas rig counts as balancing the capital budget and living within cash flow, and our hedge position again leaves us in position to do that. I would go one step further to say that with the hedge position that we have got in place for 2010, we are confident that we can execute a similar activity set in 2010 as what we have done in 2009 and with that deliver a 5% a 10% production growth.
In addition, we mentioned the Granite Wash Play where we have got spectacular returns and very good production rates. We have added a rig there. So you can see that we are continuing to shift to the projects that have the highest returns, and can help drive our production numbers up into the right direction that we are so fond of here in Newfield.
Brian Singer – Goldman Sachs
Great, thanks. And secondly, switching to the Bakken, can you give us your latest thoughts, a little more color on return rates and costs in the shallower portions versus the deeper portions of your acreage position?
Lee Boothby
Since Mr. Packer built most of our Bakken position, I will hand the question over to him.
Gary Packer
Brian, as far as the Bakken drilling, as it relates to the deeper portion or the place that we have drilled historically most of our wells, we have got our cost down to somewhere around 4.2 to 4.5 million. As we move into some of the shallower areas, our early drilling in areas such as Big Valley and others have included a considerable amount of signs, so to speak, -- I think we're thinking those wells are typically going to be about $3.5 million well or so.
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