Permian Basin 2018

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PERMIAN BASIN: KEY PLAYERS | October 2018 | 15 quarter of 2018, representing an 88% increase over the second quarter of 2017, according to Anadar- ko's second-quarter 2018 operations report. "The [second] quarter was highlighted by the successful startup of the Reeves ROTF [regional oil treating facility], the commissioning of its North Loving ROTF, as well as a record num- ber of wells turned to sales," the report stated. "The company also advanced its first full pad development at the Silvertip-A location in Loving County, where it had completed 12 extended-reach lateral wells targeting multiple intervals in the Wolfcamp-A Formation. These wells are expected to begin producing in the second half of 2018 and will flow to the North Loving ROTF." Apache Corp. Apache has more than 2.8 million gross acres in the Permian Basin. Estimated proved reserves of 681 MMboe at year-end 2017 represented 58% of the company's worldwide reserves, according to the company's website. In 2017 Apache averaged 16 rigs and drilled or participated in 215 wells in the Permian; 158 were horizontal with a 97% success rate, the company said. Second-quarter 2018 operational production highlights for the Permian included 89,928 bbl/d of oil, 134,621 bbl/d of total liquids and 403,267 Mcf/d of natural gas, according to the company's website. Additionally, the company also reported 201,832 boe/d in the second quarter. "Apache plans to continue an elevated level of activity in the Permian region during 2018, while continuing to balance capital investments between its larger development project at Alpine High and focused exploration and development programs on other core assets in its Permian region," the com- pany stated on its website. This year the company expects to average about 14 drilling rigs in the Permian, which includes six to seven rigs at Alpine High focused on a combi- nation of retention, development and delineation drilling. Approximately $1.6 billion (about two- thirds) of Apache's 2018 capital upstream budget will be allocated to the Permian region, according to the company. Centennial Resource Development Centennial Resource Development is an indepen- dent oil producer with about 80,100 net acres (90% operated) and 2,400 drilling locations (about 60% oil) in the Delaware Basin. Average daily crude oil production increased 79% in the second quarter and 125% for the first half of 2018 compared to prior year periods, according to the company's second-quarter 2018 results press release. The Red Rock A Unit T09H and U04H wells were drilled using a stacked, staggered pattern in the Third Bone Spring Sand and Upper Wolfcamp A intervals, respectively, with effective 10,900-ft lat- erals, according to the report. The T09H achieved a 30-day IP rate of 1,578 boe/d, with 1,143 bbl/d of oil, and the U04H reported a 30-day IP rate of 1,268 boe/d, with 940 bbl/d of oil. In addition, the CWI Long A U31H, B U40H and C U49H wells were drilled in the Upper Wolfcamp A interval with about 9,850-ft laterals, the report stated. These wells achieved 30-day IP rates of 2,158 boe/d (78% oil), 2,899 boe/d (78% oil) and 2,278 boe/d (78% oil), respectively. The three- well pad delivered an average 30-day oil IP rate of 194 bbl/d per 1,000 ft of lateral per well. The company's Miramar acreage, the Ninja 4-50 49 2H, 3H, 4H and 5H wells, were drilled on a four-well pad targeting the Lower Wolfcamp A, Upper Wolfcamp A, Wolfcamp C and Upper Wolf- camp A intervals, respectively. Drilled with an average extended lateral length of 9,800 ft, the wells delivered an average 30-day IP rate of 1,878 boe/d (58% oil) per well. During its 60-day IP period, the pad produced more than 225,000 bbl of oil, the report stated. Moreover, targeting the Upper Wolfcamp A zone, the Balmorhea State G 8H, H 9H and I 10H wells were drilled with average 6,150-ft effective laterals. Each well began production at an average 30-day IP rate of 1,337 boe/d (77% oil) per well, or 166 bbl/d of oil per 1,000 ft of lateral, according to the report. Chevron Corp. Chevron is among the largest producers of oil and natural gas in the Permian Basin, and with about

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