Playbooks Supplements

Unconventional Yearbook 2018

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14 | January 2018 | 2018 UNCONVENTIONAL YEARBOOK | KEY PLAYERS have drilling or completion activity planned in the Utica for 2017. In October 2017 Carrizo also sold its Marcellus Shale assets to a subsidiary of Kalnin Ventures LLC for $84 million in cash, according to a press release. "Net production from the assets averaged more than 40 MMcf/d of natural gas over the fi rst nine months of 2017," the release stated. The transac- tion closed at the end of November. Centennial Resource Development Inc. ■ About 88,000 net acres in the Delaware Basin ■ Acquired about 11,860 net acres in Lea County, N.M. Independent oil producer Centennial Resource Development has about 88,000 net acres and 2,206-plus drilling locations (about 57% oil) in the Delaware Basin in Reeves County, Texas, and Lea County, N.M. The company reported second-quarter 2017 total daily production of 29,664 boe and 17,435 bbl of oil, an increase of 61% and 66%, respectively, compared to fi rst-quarter 2017, according to the company's second-quarter 2017 results. In May 2017 Centennial acquired about 11,860 net acres in Lea County from GMT Exploration Co. for about $350 million, a press release stated. In the second quarter Centennial reported strong wells from the Upper Wolfcamp A in Reeves County. Centennial completed its best well to date with the Stephens 2H (100% WI). The well achieved a 30-day IP rate of 1,953 boe/d (77% oil), according to the company's second-quarter report. The well had an effective lateral of about 4,190 ft with a 30-day IP rate of 359 bbl/d of oil per 1,000 ft of lat- eral. The Russell 6H (100% WI) was drilled with an about 4,185-ft effective lateral and produced 1,750 boe/d (86% oil) for the 30-day IP period, according to the report. On a per lateral foot basis, the well delivered a 30-day IP rate of 359 bbl/d per 1,000 ft of lateral. "Since inception, one of our goals was to become the technical leader in shale oil extraction among the mid-cap E&P [companies]. The Stephens 2H and Russell 6H are the most productive wells drilled to date, evidence that we have achieved this goal," said Chairman and CEO Mark G. Papa in the second-quarter 2017 report. Centennial added a sixth drilling rig in Reeves County during the second quarter. "Due to effi- ciency gains, Centennial expects to continue operating its current six-rig drilling program for the remainder of 2017. This compares to Centen- nial's previous plan to add a seventh operated rig during third-quarter 2017," the company stated Carrizo reported 162 MMboe of proved reserves in the Eagle Ford Shale. (Photo courtesy of Carrizo Oil & Gas Inc.)

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