Playbooks Supplements

Unconventional Yearbook 2018

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44 | January 2018 | 2018 UNCONVENTIONAL YEARBOOK | KEY PLAYERS entered into a cooperative arrangement to control the completion operations of certain drilled and uncompleted wells associated with its previously announced bolt-on acquisition with expected closing date in the fourth quarter of 2017. The company plans to turn-in-line 18 of these wells at approximately year-end 2017 with the completion costs expected to be treated as an increase to the purchase price." In addition, Delaware Basin production aver- aged 12,845 boe/d in the third quarter, a 28% increase from the second quarter, the report stated. During the third quarter, PDC spud six wells and had four turn-in-lines. Pioneer Natural Resources Co. ■ Third-quarter 2017 production of 276 Mboe/d ■ Sold Martin County, Texas, acreage for $266 million Pioneer Natural Resources' operations are in the Permian Basin, Eagle Ford Shale, Rockies and the West Panhandle. In March 2017 Pioneer signed a purchase and sale agreement with an undisclosed buyer to sell its acreage package in northeastern Martin County, Texas, for $266 million, according to a company news release. Net production was about 1,500 boe/d as of March 15. Pioneer reported third-quarter production of 276 Mboe/d, an increase of 17 Mboe/d com- pared to the second quarter, and 162 Mbbl/d of oil, an increase of 15 Mbbl/d compared to the second quarter, according to the compa- ny's third-quarter 2017 financial and operating results news release. "Third-quarter production was negatively impacted by 3,500 barrels oil equivalent per day due to Hurricane Harvey and unplanned down- time at a third-party gas processing facility; Pro- duction would have been at the top end of Pioneer's third-quarter guidance range of 274 Mboe/d to 279 Mboe/d without these negative impacts," the com- pany stated in the release. Third-quarter production growth was driven by the company's Spraberry/Wolfcamp horizon- tal drilling program. Pioneer increased Spraberry/ Wolfcamp horizontal production by 22 Mboe/d compared to the second quarter, and horizon- tal oil production increased by 17 Mbbl/d quar- ter-over-quarter, according to the release. In addition, Pioneer placed 61 horizontal wells on production in the Spraberry/Wolfcamp during the third quarter and expected to place about 70 wells on production in the area during the fourth quarter, totaling about 230 wells being placed on production during 2017, according to the release. Other Pioneer highlights from the third quar- ter included drilling and completing 11 new wells and completing nine drilled but uncompleted wells (DUCs) in the Eagle Ford Shale during 2017 (Pioneer has a 46% working interest). Two new drills and nine DUCs were placed on production in the Eagle Ford Shale during the second and third quarters. The average cumulative produc- tion per well from the new drills and DUCs after about 80 days and 140 days of production, respec- tively, is more than double the average cumula- tive production per well for the same time period from all wells placed on production during 2015 and 2016, the company stated in the report. Two additional new drills were placed on production in early October. QEP Resources Inc. ■ Third-quarter 2017 production of 14,124 Mboe ■ Acquired Midland Basin assets QEP Resources operates in the Permian Basin, Wil- liston Basin, Uinta Basin and Haynesville Shale. The company reported third-quarter 2017 production of 14,124 Mboe and year-end 2016 proved reserves of 731.4 MMboe, according to QEP's website. In the Permian Basin QEP reported third-quar- ter 2017 production of 2,351.3 Mboe and year-end 2016 proved reserves of 147.8 MMboe. In October 2017 QEP acquired additional crude oil properties in the core of the northern Midland Basin. The properties include about 13,000 net acres with more than 730 potential horizontal drilling loca- tions in four horizons—Middle Spraberry, Spra- berry Shale, Wolfcamp A and Wolfcamp B—with

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