Blue Arrow Operating is an independent oil and natural gas company headquartered in Midland, Texas, focused on acquiring, exploring and developing Permian Basin properties. The company is actively developing Delaware Basin leasehold, supported by a team with experience drilling and completing more than 200 horizontal wells across the basin.
The 2026 records reviewed for this analysis provide a snapshot of that activity: 13 horizontal Wolfcamp permit records across Pecos and Reeves counties, including 11 recorded spuds and two records without spud dates. The activity covers the Fernwood, Rattler 23 and Stewart 15-22 developments in Block 49T8S.
Repeated depth targets suggest potential multi-bench development
Fernwood accounts for eight records in Pecos County’s Section 1, Abstract 946. Four carry a projected depth of 9,385 feet, while four specify 10,600 feet. Repeated pairs of these depth targets occur within nearby surface clusters, suggesting a planned approach to developing different subsurface targets.
Stewart 15-22, in Section 10, Abstract 5535, shows a similar pattern: two records at 9,300 feet and one at 9,950 feet. One Stewart spud was recorded on October 6, 2026; the other two records have no Activity Date and are treated as not yet drilled.
These patterns make Fernwood and Stewart candidates for multi-bench Wolfcamp development. The Wolfcamp contains multiple benches, providing a geological basis for that interpretation. However, projected depths alone do not confirm separate producing intervals. Bench names, landing-zone vertical depths and well trajectories are needed to establish a stacked-reservoir design.
Precision rigs support the drilling program
Precision 619 appears on all eight Fernwood records and the spudded Stewart record. Fernwood’s recorded spuds extend from April 7 through September 26, 2026, indicating drilling activity across several months.
Precision 592 appears on both Rattler 23 records in Reeves County, Section 2, Abstract 1649. Those wells have recorded spud dates of July 31 and August 17, 2026, with both carrying projected depths of 9,500 feet. The records document rig involvement rather than current rig locations.
Rattler air permit adds a facility milestone
The supplied air-permit record identifies RATTLER CTB, operated by Blue Arrow Operating, LLC, under Permit 185680, Project 416454. The initial permit-by-rule registration was issued on October 8, 2026, with the administrative project marked complete. Listed activities include oil and gas production facilities, flares, and routine maintenance, startup and shutdown.
The facility coordinates place it approximately 214–220 metres from the Rattler well locations, supporting a likely association. Permit issuance followed the latest Rattler spud by 52 days, adding a production-facility authorization milestone to the development timeline. It does not establish that construction or commissioning is complete.
For service companies and suppliers, the next opportunities to investigate are the two remaining Stewart spuds, Fernwood completion and tie-in requirements, and Rattler CTB installation, commissioning and startup needs. Together, the records show a program progressing through drilling and facility authorization, with potential multi-bench development worth watching.
Author: phinds