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Unconventional Yearbook 2018

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20 | January 2018 | hartenergy.com 2018 UNCONVENTIONAL YEARBOOK | KEY PLAYERS Cimarex Energy Co. ■ Brought 85 gross MidCon wells online in fi rst-half 2017 ■ Permian proved reserves of 372 Bcf of gas in 2016 Cimarex Energy is an E&P company with opera- tions mainly located in Oklahoma, Texas and New Mexico. Most of the company's drilling takes place in the Wolfcamp Shale and Bone Spring Sands in the Permian Basin and in the Woodford Shale in Western Oklahoma. In the Midcontinent the company reported 2016 proved reserves of 1,095 Bcf of gas, 31,399 Mbbl of oil and 89,615 Mbbl of NGL, according to the company's website. The Midcontinent accounted for 63% of Cimarex's year-end 2016 proved reserves and 47% of total production. In August 2017 Cimarex reported it had brought on 85 gross (18 net) wells in the Midcontinent in the fi rst half of the year, according to the compa- ny's second-quarter 2017 report. "Production from the Midcontinent averaged 509 MMcfe per day for the second quarter, up 10% vs. second-quarter 2016. Sequentially, crude oil vol- umes were up 8%, natural gas production grew 4% and NGL volumes increased 7%," the report stated. "In addition to its continued delineation in the Meramec play, the company recently began com- pletion of an increased density pilot in the Wood- ford Formation. The project consists of eight wells that are testing both 16 and 20 Woodford wells per section. Results from this test are expected in the second half of 2017 and will help determine well spacing in upcoming Woodford developments." In the Permian Basin the company reported 2016 proved reserves of 372 Bcf of gas, 74,295 Mbbl of oil and 40,977 Mbbl of NGL, according to the company's website. The Permian accounted for 37% of Cimarex's year-end 2016 proved reserves and 52% of total production. In August 2017 Cimarex reported it had brought on 36 gross (26 net) wells in the Permian in the fi rst half of the year, according to the company's second-quarter 2017 report. "Production from the Permian Basin averaged 644.7 MMcfe per day in the second quarter, a 27% increase from sec- ond-quarter 2016 and up 12% sequentially. Oil volumes represent 43% of the region's total pro- duction. Natural gas production increased 9% and NGL production was up 16%, sequentially," the report stated. Concho Resources Inc. ■ No. 1 producer of oil in New Mexico ■ A top 15 producer of oil in Texas Concho Resources has operations in the New Mex- ico Shelf, Delaware Basin and Midland Basin. Con- cho averaged 21 rigs in second-quarter 2017, and as of Aug. 2 the company was running 19 rigs and expected to average 17 rigs in second-half 2017, according to the company's second-quarter 2017 results report. During second-quarter 2017 Concho began drilling or participated in 87 gross wells (60 operated wells) and completed 76 gross wells, the report stated. The independent company is the No. 1 producer of oil and No. 3 producer of natural gas in New Mexico with about 150,000 gross acres that are con- centrated and largely HBP in the New Mexico Shelf, according to the company's website. Concho has about 590,000 gross acres in the Delaware Basin. "Concho added 12 horizontal wells in the Northern Delaware Basin with at least 30 days of production during the second quarter of 2017 and an average lateral length of 6,045 ft. The average peak 30-day and 24-hour rates for these wells were 1,394 boe/d (66% oil) and 1,700 boe/d, respectively. The company currently [as of Aug. 2, 2017] has seven rigs drilling in the Northern Dela- ware Basin," the report stated. "Concho added eight horizontal wells in the Southern Delaware Basin with at least 30 days of production during the second quarter of 2017. The average peak 30-day and 24-hour rates for these wells were 1,740 boe/d (77% oil) and 2,165 boe/d, respectively." The company had six rigs drilling in the Southern Delaware Basin as of Aug. 2, 2017. The company has about 260,000 gross acres in the Midland Basin. "Concho added 31 horizontal wells in the Midland Basin with at least 30 days

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