Playbooks Supplements

Unconventional Yearbook 2018

Issue link: http://yearbook.epmag.com/i/915048

Contents of this Issue

Navigation

Page 29 of 107

28 | January 2018 | hartenergy.com 2018 UNCONVENTIONAL YEARBOOK | KEY PLAYERS uids) and reserves of 24 MMboe (64% liquids) in the Rockies, according to Devon's website. According to Devon's second-quarter 2017 report, "Based on accelerated activity levels in the second half of 2017, the company projects U.S. oil production to exit the year at a rate of 18% to 23% higher than fourth-quarter 2016. This strong production growth over the remainder of 2017 is driven by the company's focused capital program in the Stack and Delaware Basin where 90% of its U.S. rig activity is allocated. Combined, these two franchise growth assets are expected to advance production by greater than 30% by the end of 2017 compared to the same period a year ago." Diamondback Energy Inc. ■ 191,000 net surface acres in the Permian ■ Third-quarter 2017 production of 85 Mboe/d in the Permian Diamondback Energy's operations are focused solely in the Permian Basin within the Wolfcamp, Spra- berry, Clearfork, Bone Spring and Cline formations. The independent company has 191,000 net surface acres with about 4,300 gross locations in the Permian, according to a September 2017 investor presentation. The company reported third-quarter 2017 pro- duction of 85 Mboe/d (73% oil), an increase of more than 10% from the second-quarter 2017 average pro- duction of 77 Mboe/d, a press release stated. As of Oct. 2, 2017, Diamondback was running nine drill- ing rigs and four dedicated completion crews, and the company said it began operations with a fourth newbuild completion spread that has been executed as well as its three existing dedicated crews. In February 2017 Diamondback acquired 80,185 net leasehold acres in Pecos and Reeves counties from Brigham Resources Operating LLC and Brigham Resources Midstream LLC for an aggregate purchase price of $2.55 billion, a press release stated. In addition, Viper Energy Partners LP is a lim- ited partnership formed by Diamondback to own, acquire and exploit oil and natural gas properties in North America, with a focus on oil-weighted basins primarily the Permian Basin. Viper reported third-quarter 2017 production of 12.6 Mboe/d (68% oil), according to a press release. Encana Corp. ■ U.S. operations in the Permian, Eagle Ford and San Juan ■ Sold its Piceance assets Encana's U.S. operations include the Permian Basin, Eagle Ford Shale and San Juan Basin. In second-quarter 2017 Encana delivered a 20% increase in IP180 type curves and increased its pre- mium return well inventory by 700 locations in the Permian, according to the company. Encana has 45 cube wells on production and aims to create additional upside through advanced completions design and new benches, according to the compa- ny's second-quarter 2017 report. "With over 30 billion barrels of cumulative oil production, the Permian is a proven oil-rich resource play with multiple stacked horizontal tar- gets. Encana believes the Permian's unconventional production potential will exceed the Eagle Ford and the Bakken combined," the company said on its website In the Eagle Ford Encana delivered a 45% increase in average IP180 type curves and grew oil and condensate production by 30% from the previous quarter, according to the company's second-quarter 2017 report. The company also increased its premium return well inventory by 40 locations in the Eagle Ford. Encana holds about 200,000 net acres in the San Juan, located almost exclusively in the oil window of the play. In 2017 the company had a six-well pro- gram. As of October 2017 all six were on produc- tion and evaluation of the results were underway to determine the course going forward. In July 2017 Encana's wholly owned sub- sidiary, Encana Oil & Gas (USA) Inc., sold its Piceance natural gas assets located in northwest- ern Colorado to Caerus Oil and Gas LLC, a press release stated. In addition, Encana Oil & Gas (USA) Inc. sold its Denver-Julesburg Basin assets in Colorado to Cre- stone Peak Resources in 2016, a press release stated.

Articles in this issue

Links on this page

Archives of this issue

view archives of Playbooks Supplements - Unconventional Yearbook 2018