Using hydraulic fracturing safely and reliably for over 60. Crude oil and condensate totaled 1,950 bbld in the wolfcamp, 1,300 bbld in the bone spring and 1,200 bbld in the leonard shale, according to the companys secondquarter 2019 results report. Recent usgs report was for wolfcamp only and midland basin only 2,500,000 us oil production by basin 500,000 1,000,000. Energy information administration eia official energy statistics from the u. Global hunter securities analyst dan morrison, in a november research report, recognized the unfolding drama as well. Investor relations analysts, investment professionals, and shareholders. Part 1 published on july 18, 2017 july 18, 2017 273 likes 63 comments. The case of eagle ford linnea lund production of oil and gas from shale is often described as a revolution to energy production in north america. Texas at austin, bureau of economic geology, report of investigations no. For a reconciliation of ebitdax to the nearest comparable measures in accordance. Formation and the underlying wolfcamp shale has resulted in the.
Pay distribution and basin architecture of the wolfcamp. Railroad commission of texas, 2014, final order amending field rules for. Oxy permian business overview acres wells production gross oxy operated wells including producers and injectors, and idle wells. The barnhart area of irion county remained extremely active ramping back up to six horizontal rigs. This is a very significant oil field with rapidly growing production and drilling activity. Retreating to the best shale acreage helps immensely when the chips are down. We expect the horizontal wolfcamp in the southern midland. Investors the sec prohibits oil and gas companies, in their. A deeper understanding of rock physics is necessary for successful exploration and production. Wolfcamp shale news, companies, geology, wells, maps. Wolfcamp high grading and the effects thereof report wood. Money map press home money map report energy advantage novax report. Exxonmobil continues to increase wolfcamp position in permian.
Permian investor presentation march 2012 media corporate ir net. Targets for unconventional gas include the devonian woodford shale, the mississippian barnett shale, and the permian wolfcamp shale. Successful completion optimization of the eagle ford shale. While thorium is not part of the chemical composition of shales it is often deposited in shale. First quarter 2014 earnings release operations supplement permian continued wolfcamp shale apache has an estimated 502,000 gross acres 401,000 net prospective for wolfcamp shale. Nov 15, 2016 the wolfcamp shale in the midland basin portion of texas permian basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1. Drillnomics analysis of the wolfcamp shale reeves county, texas january 11, 2016 in the last 5 years, the mature permian basin has been brought back into the oil and gas spotlight as one of the most prolific unconventional resource plays in the united states with the discovery and development of shale. Adapted from poster presentation given at aapg 2014 southwest section annual. Dallas matador resources, an independent engaged in shale and unconventional exploration, development, production and. During the 1980s, vertical wells produced oil in the wolfcamp area. Ps highresolution core studies of wolfcampleonard basinal facies, southern midland basin, texas robert w. Successful completion optimization of the eagle ford shale supplement to spe paper 170764. First quarter 2014 earnings release operations supplement. Eagle ford shale 1 2 targeted landing zones eog fourth quarter 2015 investor relations report dated 16 february 2016 three efs wells reported 26 feb 2016.
Feb 19, 20 the wolfcamp shale in southern midland basin is a world class source rock located in peak oil generation and early gas generation window. In culberson county, texas, cimarex now has three wells producing from the wolfcamp d formation that were completed with an upsized frac. Crude oil and natural gas proved reserves, yearend 2018. Wolfcamp series is not exposed in guadalupe monntains but comes to surface in sierra diablo. However, american producers like pioneer natural resources and eog. Oil and gas investor, august, hart energy publishing. Since the beginning of this century the shale oil production has increased from practically zero to currently supply almost half of the u. The geological survey also revealed that the wolfcamp shale formation holds 16 trillion cubic feet of natural gas. Wattenberg field, eagleford shale and wolfcamp shale assets. Anadarko highgraded its permian position in the 4th quarter by divesting more than 7,100 net noncore acres in the midland basin and used the proceeds to acquire nearly 10,000 net acres in the delaware basin adjacent to its core wolfcamp shale position.
On february 11, 2014 the environmental protection agency epa issued a final permitting guidance for oil and gas hydraulic fracturing activities using diesel fuels. They survived the oil price crash of 2014 and opecs attempt to manipulate the market. For example, xto first began recycling water in the permian basin to support its wolfcamp shale operations in 2012 in eddy county, new mexico. Big oil companies are rolling up shale plays, just in time. Second quarter 2014 earnings release operations supplement. Annual report, you will see your company at work in many other. Crude oil and lease condensate proved reserves rose by 12%,and natural gas proved reserves rose by 9% table 1. Ngl totaled 450 bbld in the wolfcamp, 300 bbld in the bone spring and 600 bbld in the leonard shale. The mineral composition and lithology are similar to the eagle ford shale, with a high density of natural fractures.
Pdf on aug 15, 2014, tariq ali and others published economic impact. During the quarter, the company closed the previously. For this reason, xto makes best efforts to recycle water where practical. Permian operators delivering strong production hart energy. Spraberry wolfcamp shale and deeper intervals are located in the midland basin of the permian basin. Crude oil and natural gas proved reserves, yearend 2018 another year of stronger oil and natural gas prices increased 2018 oil and natural gas proved reserves in the united states to another alltime record level. Aggressive high grading allowed production metrics to perform quite well, considering severe investor pressure to rightsize businesses. These wells had an average 30day initial gross production rate. So far the company has drilled 29 wells into the wolfcamp shale, while it has several rigs running to continue testing. Net production in the permian basin for 2014 averaged 33. The second well was drilled into the lower wolfcamp shale. Federal epa releases final guidance for the use of diesel fuel in hydraulic fracturing. The spraberry wolfcamp shale play permian midland basin spraberry wolfcamp stacked shale play 20. Pay distribution and basin architecture of the wolfcamp shale.
Unconventional reservoirs are typically very complex to model, and rock physics provides insight into this complexity. Weve seen high grading play out before in other shale plays. Local representative of series is wolfcamp formation, which is about 600 feet thick and consists of alternating thick beds of shale. To provide a better hydrogeologic understanding of the permian basin, particularly the origin, nature, and potential flowpaths of fluids from shale reservoirs, this paper investigates the geochemistry of formation brines, with particular focus on.
Now, they are producing so much that opec has had to recognize the value of shale production. Second quarter 2014 earnings release operations supplement notice to investors this earnings release operations supplement contains certain forwardlooking statements within the meaning of section 27a of the securities act of 1933, as amended, and section 21e of the securities exchange act of 1934, as amended and, whenever. Schwartz the wolfcamp formation consists of a multiple billion barrel oil equivalent resource opportunity in the delaware basin. Matador resources reports drilling progress in wolfcamp shale. In 2014, 16 horizontal wolfcamp wells were brought online with. The company is targeting oil dominant zones from the upper spraberry formation down to.
The wolfcamp shale formation in the permian basin of west texas is a complete reservoir system of source, seal and reservoir. Jan 09, 2014 the massive wolfcamp shale formation holds up to 50 billion barrels of oil equivalent here are two of the best stocks to buy to profit from it. Highresolution core studies of wolfcampleonard basinal facies. Wolfcamp shale 2017 drilling news, leasing, wells, budgets, regulations and midstream. The geological survey also revealed that the wolfcamp shale formation holds 16. Delaware wolfcamp shale is a separate formation that lies beneath the bone spring, it is about 2,000 thick. Subsequently, the bulk of recent drilling activity has been targeting the wolfcamp shale. Pay distribution and basin architecture of the wolfcamp shale in the delaware basin kenneth m. The wolfcamp shale sits in west texas and contains 20 billion barrels of oil and 16 trillion cubic feet of natural gas. National and global petroleum assessment assessment of. The wolfcamp shale is an oil and gas formation found in the whole of permian basin. This is the first assessment of continuous resources in the wolfcamp shale in the midland basin portion of the permian. Rowe sws aapg meeting, may 2014 sws aapg meeting, may 2014 c. Two stocks to buy to tap into the massive wolfcamp shale.
Lower spraberry shale and jo mill shale, ii 100acre spacing on 50% of total acreage and iii. Subsurface gas and oilshale samples of permian, fort worth, and. Pioneer natl resources dec 2016 investors presentation. Some people call the wolfcamp shale the wolfberry trend. And thats exactly what wolfcamp operators did last year.
The following maps show the drilling history and oil and gas production of selected lowpermeability, continuoustype shale reservoirs. Geological survey assessed technically recoverable mean resources. Geological survey usgs announced it found the largest continuous oil and gas deposit ever discovered in the u. The wolfcamp shale is an oil and gas zone directly below the spraberry trend. Local representative of series is wolfcamp formation, which is about 600 feet thick and consists of alternating thick beds of shale and thin beds of limestone. Kocurek industries has developed state of the art facilities for producing shale cores from our supply of outcrop rock and from well cores provided by our clients. News and updates news releases exxonmobil continues to increase wolfcamp position in permian basin. Community news about the wolfcamp shale in west texas news where you get to participate. Length of the carry jda o expenditure of entire carry consideration o defined time period o extension due to lower commodity pricing offramps jda o investors are increasingly requesting some type of offramp andor. Wolfcamp shale formation in the delaware and midland basins. Wood mackenzie 2016 production, 3217, company nwi% prod uction rates, operators shown represent 85% of permian basi n. Usgs estimates 20 billion barrels of oil in texas wolfcamp. The wolfcamp shale in the midland basin portion of texas permian basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1. This is what makes this area so profitable at different depths.
Data from ihs energy 2016 and baumgardner, et al 2014 modified. Permian basins oil and gas industry find, read and cite all the research you need on researchgate. Highresolution core studies of wolfcampleonard basinal. Corporate profile energen corporationis a domestic, independent, oil and gas exploration and production company with more than 3. Wolfcamp high grading and the effects thereof report. Jefferies says buy top permian basin stocks now on recent. National and global petroleum assessment assessment of undiscovered continuous oil resources in the wolfcamp shale of the midland basin, permian basin province, texas, 2016 u sing a geologybased assessment methodology, the u. Its storage space includes matrix porosity, natural fractures, and organic materials. Estimates of 20 billion barrels of oil at wolfcamp shale formation. Other recycling programs ultimately peaked at about 40,000 barrels per day at our lhs ranch development in the midland basin. Portions of the definitive proxy statement for the registrants 2014 annual meeting of. The massive wolfcamp shale formation holds up to 50 billion barrels of oil equivalent here are two of the best stocks to buy to profit from it. Drillnomics analysis of the wolfcamp shale reeves county. Oil production exceeds guidance q2 results are highlighted by 8% production growth from the companys stack and delaware basin assets compared to the first quarter.
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