Playbooks Supplements

Scoop-Stack Playbook 2017

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SCOOP/STACK: KEY PLAYERS | September 2017 | 15 Chesapeake's second-half 2017 plans include moving Meramec to development and beginning testing on the Chester Formation, according to the investor presentation. Cimarex Energy Co. Cimarex defines its Midcontinent region as the Anadarko Basin in Western Oklahoma, Southern Oklahoma and the Texas Panhandle. The bulk of the independent company's activity takes place in the Woodford Shale in Western Oklahoma. Woodford wells target the liquids-rich Wood- ford Shale formation. The infill program is tak- ing place in Canadian County, Okla. Cimarex has 136,500 net undeveloped acres (88% HBP) in the Woodford Shale, according to a May corporate update presentation. In addition to the Woodford Shale, Cimarex is actively testing the Meramec Shale. The Meramec sits above the Woodford Shale and early results have been encouraging, the company said on its website. Cimarex has 116,500 net prospective acres (90,000 de-risked) in Meramec, according to the May presentation. The Midcontinent region accounted for 63% of Cimarex's year-end 2015 proved reserves and 44% of total production, according to the company's website. Cimarex invested $306 million in explora- tion and development during first-quarter 2017, with 30% of that dedicated to the Midconti- nent, according to the company's first-quarter 2017 report. Production from the Midcontinent averaged 484 MMcfe/d for the first quarter, down 2% vs. first-quarter 2016. Crude oil volumes were up 20%, natural gas production grew 3% and NGL volumes increased 16%, the report stated.

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