Playbooks

Permian Basin 2018

Issue link: http://yearbook.epmag.com/i/1030712

Contents of this Issue

Navigation

Page 29 of 99

PERMIAN BASIN: KEY PLAYERS 28 | October 2018 | hartenergy.com ity will remain weighted to the Midland Basin for the remainder of the year." Parsley turned 14 wells to production in Glass- cock County during the second quarter. These wells included two wells on the Brunson lease, which tar- geted the Wolfcamp A and Wolfcamp B zones in a stacked confi guration. The company reported early results from these two wells of peak 30-day produc- tion rates averaging 1,277 boe/d (84% oil), repre- senting the company's strongest stacked Wolfcamp results in Glasscock County to date, according to the report. Parsley is increasing its full-year 2018 net oil pro- duction guidance to 68,000 to 70,500 bbl/d of oil. Pioneer Natural Resources According to Pioneer Natural Resources' sec- ond-quarter 2018 results news release, the com- pany is the largest acreage holder in the Midland Basin with approximately 550,000 gross acres in the northern portion of the play and approximately 200,000 gross acres in the southern Wolfcamp joint venture area. Also in the second quarter, the company pro- duced 280,000 boe/d and placed 67 horizontal wells on production in the Permian Basin. The company also said its Permian Basin oil production increased to 175,000 bbl/d of oil. Pioneer forecasted its Permian Basin produc- tion to average between 278,000 boe/d and 288,000 boe/d in the third quarter. The company's full-year 2018 plans include "operating 20 horizontal rigs in the Permian Basin; planning to add four rigs to support the 2019 plan, two in August and two during the fourth quarter of 2018; expecting to place 250 to 275 wells on production during 2018; [and] drilling wells in the Permian Basin that deliver strong cash operating margins and high rates of return," according to the release. Shell Shell has shared its Permian acreage with Anadarko Petroleum Corp. in a joint venture (JV) since 2012. The JV's Permian operations are in Loving, Ward, Winkler and Reeves counties, covering about 280,000 to 300,000 net acres, and Shell produces about 39,000 total gross barrels of oil. In the Delaware Basin, Shell's primary focus is on the Wolfcamp, Bone Springs and Avalon forma- tions. The company has 400 Shell-operated wells and 500 nonoperated wells. The company also has several central processing facilities in the Permian and operates eight salt- water disposal facilities. "Shell is running six rigs as it familiarizes itself with the Permian and develops methods and sys- tems to extract oil effi ciently. Shell's goal is to pro- duce oil profi tably there by next year and ramp up output in the 2020s," according to a March 2018 Houston Chronicle article. Looking ahead, "Shell hopes to boost its North American shale output by 140,000 barrels of oil equivalent per day in the next three years, a goal that relies largely on the Permian," according to a Reuters report released in March 2017. Cementing operations take place on a Permian rig. (Photo courtesy of Pioneer Natural Resources)

Articles in this issue

Links on this page

Archives of this issue

view archives of Playbooks - Permian Basin 2018