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Permian Basin 2017

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PERMIAN BASIN: KEY PLAYERS 28 | November 2017 | hartenergy.com 62.6 Mboe/d. In addition, 45 wells were turned to production in the second quarter (18 Delaware and 27 Midland), the presentation stated, with 78% of those being multizone pattern wells completed in batches. EOG Resources Inc. EOG Resources is an independent crude oil and natural gas company with operations in the Dela- ware Basin in the Permian. In second-quarter 2017 EOG completed 25 wells in the Delaware Basin Wolfcamp with an average treated lateral length of 6,500 ft per well and average 30-day IP rates per well of 3,010 boe/d, or 1,945 bbl/d of oil, 480 bbl/d of NGL and 3.5 MMcf/d of natural gas, according to the compa- ny's second-quarter 2017 report. In Lea County, N.M., EOG completed a four-well pattern, the Rat- tlesnake 28 Fed Com 706H-709H, with an average treated lateral length of 6,700 ft per well and aver- age 30-day IP rates per well of 3,870 boe/d, or 2,545 bbl/d of oil, 600 bbl/d of NGL and 4.4 MMcf/d of natural gas, the report stated. In the Delaware Basin Bone Spring, EOG com- pleted 19 wells in the second quarter with an aver- age treated lateral length of 5,600 ft per well and average 30-day IP rates per well of 2,130 boe/d, or 1,515 bbl/d of oil, 275 bbl/d of NGL and 2.0 MMcf/d of natural gas. In Lea County EOG com- pleted a three-well pattern, the Neptune 10 State Com 503H-505H, with an average treated lateral length of 9,700 ft per well and average 30-day IP rates per well of 3,620 boe/d, or 2,790 bbl/d of oil, 375 bbl/d of NGL and 2.7 MMcf/d of natural gas, the company's report stated. In the Delaware Basin Leonard, EOG completed three wells in the second quarter with an average treated lateral length of 5,400 ft per well and aver- age 30-day IP rates per well of 1,615 boe/d, or 1,075 bbl/d of oil, 245 bbl/d of NGL and 1.8 MMcf/d of natural gas. In addition, in 2016 EOG Resources and Yates Petroleum Corp. announced definitive agreements under which EOG agreed to combine with Yates Petroleum Corp., Abo Petroleum Corp., MYCO Industries Inc. and certain other entities (collec- tively, Yates), a press release stated. This included 186,000 net acres in the Delaware Basin. EP Energy The Wolfcamp Shale is EP Energy's focus in the Permian Basin. As of year-end 2016, the company held about 178,000 net acres and 2,682 gross drill- ing locations in the Wolfcamp. In April 2014 EP Energy acquired about 37,000 net acres of producing properties and undeveloped acreage in the Southern Midland Basin adjacent to its existing Wolfcamp Shale position. The acquisition represented about 25% expansion of the company's current Wolfcamp acreage, and the properties it acquired were 100% operated with net production of about 1,300 boe/d (75% liquids), according to the company's website. The acquisition added 475 gross iden- tified horizontal drilling locations to the 3,400 future drilling locations already in EP Energy's Wolfcamp inventory. In January 2017 EP Energy announced it had, through a subsidiary, entered into a drill- ing joint venture (JV) with investor Wolfcamp Drillco Operating LP "to fund future oil and natural gas development in its Wolfcamp program," a press release stated. Wolfcamp Drillco Operating agreed to participate in the development of an up to 150 well program in two separate 75 well tranches in areas of EP Energy's acreage, including Reagan and Crockett counties. EP Energy will retain oper- ational control of the JV assets. The first wells under the JV began production in January, according to the release. In second-quarter 2017 the company increased activities in its Wolfcamp program and expected to further increase activities and production in that basin in the second half of the year, according to EP Energy's second-quarter report. The company completed 21 gross wells (10.5 net wells) and pro- duced 9.9 Mbbl/d of oil, a 46% increase compared with second-quarter 2016, the report stated. Total equivalent production for the second quarter was 25.4 MBoe/d. EP Energy had two drilling rigs in the Wolfcamp as of August, and it expected to increase well com- pletions and production in the second half of the year while maintaining two drilling rigs for the remainder of 2017, the report stated.

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