Oklahoma 2018

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OKLAHOMA: TECHNOLOGY 24 | November 2018 | O klahoma's Anadarko Basin, home to the regional Scoop and Stack geologic oil and gas plays, has continued its surge up the charts, growing in activity level and IP figures. Today, the Scoop/Stack is the third most active play in the nation, behind only the Eagle Ford Shale in South Texas and the venerable yet still resource-rich Permian Basin in West Texas and southeastern New Mexico. The U.S. Energy Information Ad- ministration (EIA) is predicting the growth trend to continue with oil and natural gas production, and that the U.S. will soon overtake Russia as the top oil producer in the world—a title not held by the U.S. in more than 40 years. It is unconventional plays, like the Scoop and Stack that are making the increases in daily production possible. The forecast sees U.S. output growing to 11.8 MMbbl/d in 2019. "If the forecast holds, that would make the U.S. the world's leading producer of crude," said EIA Administrator Linda Capuano in the administra- tion's July forecast. During the past 12 months, producers and ser- vice companies in the region have tightened up operations and gained efficiencies, which have had positive impacts on drilling time as well as com- pletion services. Earlier this year, Devon Energy completed the initial stages of its Showboat project in Kingfisher County, Okla.—the company's first multizone development in the Stack. The operator achieved savings of $1.5 million per well, achieving 30% faster drill times than on previous activity in the area, two times the improvement on fracturing stages per day and reached first production 40 days ahead of the original plan. The Showboat development is offset by the Privott well, which was landed in the Upper Meramec and achieved a peak rate of 6,000 boe/d. The Privott well is expected to recover in excess of 2 MMboe over the life of the well. It is wells like Privott that have oil circles buzz- ing about the possible return to boom times. Oil prices have rebounded to hover around the $65/ bbl to $75/bbl mark. As costs are driven down and sweet spots in the Scoop and Stack, among others, are exposed and exploited, more company ledgers move from red to black. The outlook has prompted some industry icons to postpone retirement and give the patch another whirl. Former EOG Resources boss Mark Papa is running the Permian-focused Centennial Resource Development. Even Jim Hackett, who led Anadarko Petroleum for almost a decade before leaving in 2012 to attend Harvard Divinity School, was pulled back into the industry by the lure of a blank check. Now, as executive chairman of Alta Mesa Resources, Hackett's company is a pure play Stack operator with the heart of its holdings in Kingfisher County. If it saves time and money, then Scoop/Stack players will take a closer look. Efficiency Call Drives Tech Deployment in Oklahoma Oil Patch By Blake Wright Contributing Editor

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