Permian Basin 2017

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PERMIAN BASIN: PRODUCTION FORECAST 72 | November 2017 | O ver the past few years there have been a few basins/plays where operators have been able to make sub-$50 oil work. None is more prolific than the Permian Basin, which until recently was thought to be an almost overly mature basin. As commodity prices have flatlined in today's environ- ment, operators and investors alike are reverting back to older, prolific basins that have newly iden- tified opportunities using both conventional and unconventional techniques. New drilling, comple- tion and production techniques in basins that were once known for their "easy" oil have greatly ampli- fied our understanding of both basin OIP and po- tential hydrocarbon recoveries. The Permian, of course, has been the poster child for these developments and potential, and historically has been split into multiple different corridors within the overall Midland and Delaware basins. In the Delaware we see higher GOR (gas-oil-ratio) in the north- ern part of the play on the New Mexico-Texas border, mostly in the Bone Springs reservoir. The oilier part of the Delaware is in the core and deepest parts of Reeves and Ward counties and is mostly attributable to benches of the Wolfcamp res- ervoir. Apache's Alpine High is on the southwestern part of the play in deeper reservoirs such as the Barnett and Woodford. Ini- tial results from the Alpine High are suggesting wet gas with fair IPs for test wells; further delin- eation is needed before making any kind of per-well reserve esti- mates or economic projections. The Permian is the poster child for new opportunities to leverage innovative drilling, production and completion techniques. Reinvigorating Mature Basins By Phillip Dunning and Sarp Ozkan Drillinginfo FIGURE 1. Delaware Basin Wolfcamp A Gas-Oil-Ratio. (All data and images courtesy of Drillinginfo)

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