Question-and-Answer Session
Operator
(Operator Instructions). Our first question comes from the line of Subash Chandra with Jefferies. You may proceed.
Subash Chandra - Jefferies & Co
A few questions here. First, I guess, just on the financial side. The Q4 CapEx, just between the capital items, I'm getting a little bit lost. Could I get the Q4 capital number between drilling, land and then the capitalized items?
Gene Shepherd
The total budget for Q4, we've got $14.8 million for drilling, and then $1.4 million for non-drilling, then the capitalized items represent the remainder. So if you take the $51 million and subtract out the first three quarters, that will give you the fourth quarter number.
Subash Chandra - Jefferies & Co
So the 51 was with the capitalized items. Got you. Further acceleration, what would be the decision matrix to get there? Is there some balancing of how much you want to spend beyond cash flows, some sort of growth rate you want to achieve or how do you make the decision to go to a fifth rig, maybe even more?
Bud Brigham
This is Bud. I think the plan that we've laid out is pretty conservative, given the capital that we have on hand and current prices, and, in particular, we're certainly not modeling the well performance that we've achieved with our last five or six wells. So I think if we continue to see that kind of well performance and prices holding up, just based on the modeling, I think we'll be in excellent position to accelerate early next year.
Gene, do you want to say anything else about the plan?
Gene Shepherd
We have got pretty conservative budget. We haven't really made any big changes to our forecasting since the May equity offering, despite the performance of these recent wells. So I think that should, if the results going forward continue to mirror the recent completions, give us an enhanced level of liquidity as we enter 2010.
Subash Chandra - Jefferies & Co
You have far more precise production model I would imagine, just knowing when wells come on and that sort of stuff. The 25% type growth number for next year, and how you are sort of looking at the latest well, I guess what type of conservatism do you think is built into that number?
Bud Brigham
One thing, Subash and these guys they want to add to what I said, this to Bud. But it's pretty much a back-end loaded program. You can see it on that net well chart relative to the production growth we've you achieved that it's really going to begin to ramp up in the first quarter, but significantly as you get into the second and the third quarter, as the joint venture rolls off, our equity increases in the wells.
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