Playbooks Supplements

Scoop-Stack Playbook 2017

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SCOOP/STACK: KEY PLAYERS | September 2017 | 13 the Pennsylvanian-age Oswego Formation, the report stated. In the first quarter Alta Mesa completed 25 hori- zontal wells in the Osage Formation. The company had 35 horizontal wells in progress at the end of first-quarter 2017, seven of which were completed subsequent to the end of the quarter, the report stated. The company has allocated about 95% of its 2017 capex budget, including acquisitions, to the Stack. Capex for this area in first-quarter 2017 was $58.3 million out of the total company expen- ditures of $60.6 million, according to the compa- ny's report. Average production for this core area in first-quarter 2017 was about 19.3 Mboe/d (70% oil and NGL), an increase of 75% compared to 11.0 Mboe/d in first-quarter 2016. Apache Corp. Apache identifies its Midcontinent/Gulf Coast region as the Granite Wash, Tonkawa, Canyon Lime, Marmaton and Cleveland formations of the West Anadarko Basin, the Woodford-Scoop and Stack plays located in central Oklahoma, and the Eagle Ford Shale in southeast Texas. In 2016 the region accounted for 11% of the company's production and about 9% of the company's year- end estimated proved reserves, according to the company's website. "In 2016 Apache drilled or participated in drill- ing 35 wells with a 94% success rate. Activity was focused primarily in the Woodford-Scoop and Can- yon Lime formations," the company stated on its website. "In 2017 Apache plans to run a targeted program, drilling 11 wells in the Woodford-Scoop play. In addition, the region will continue its focus on high grading acreage and building its inventory of future drilling locations." First-quarter 2017 production for the region was about 45 Mboe/d, according to the company. Carrera Energy LLC Carrera Energy LLC was formed in 2014 by members of the management team from Limestone Explora- tion II. Based in Midland, Texas, Carrera has assets in the Permian Basin and Midcontinent region. In 2015 the E&P company completed two hori- zontal Mississippian producers in Blaine County's Longdale southeast field in Oklahoma nearly 25 miles to the east-southeast, according to IHS. The company continued its drilling progress in Okla- homa, completing wells during 2016 and 2017. In the Anadarko Basin, the company has leased more than 8,000 acres to date in a stacked, multi- pay unconventional prospect. Within the prospect, Carrera has identified up to eight potential reser- voirs for horizontal drilling at true vertical depths ranging from 7,500 ft to 11,000 ft. In December 2016 Carrera received four per- mits for Blaine County and one permit for King- fisher County in the Stack region, according to an report. Casillas Petroleum Corp. Formed in 1986, Casillas Petroleum Corp. is a closely held privately owned company headquar- tered in Tulsa, Okla. The company's current assets exceed 1,000 producing wells within five states in the Midcontinent region. In April 2016 Casillas Petroleum Resource Partners LLC, a partnership between Casillas Petroleum Corp. and Kayne Anderson Energy Funds, closed on the purchase of certain oil and gas assets owned by Chesapeake Energy Corp. in the Scoop play for $106 million, according to a Casillas press release. The assets include an interest in 260 producing wells that cover about 12,000 net acres (100% HBP) in Garvin, Grady and McClain counties in Oklahoma. In October 2016 Casillas Petroleum Resource Partners closed on another purchase of certain oil and gas assets, this time owned by Continen- tal Resources Inc., in the Scoop play in Oklahoma for an adjusted purchase price of $294 mil- lion, a company press release stated. The assets included net production of 550 boe/d and about 30,000 net acres (90% HBP) in Garvin, Grady and McClain counties. Chaparral Energy LLC Chaparral Energy is a Midcontinent operator with operations focused in Oklahoma's Stack play. The company has potential net reserves of more than 1 Bboe and about 400,000 net surface acres, of which more than 110,000 acres are in the Stack.

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