Approximately 60% of total investments are planned to be allocated to the Permian basin, with the remainder to the DJ basin. Civitas expects to drill and complete 130 to 150 gross wells in the Permian basin and 90 to 110 gross wells in the DJ basin. The majority of activity in the DJ basin will be focused in the Watkins area, which is benefiting from higher well productivity.
An API 12F tank refers to a welded steel tank designed and fabricated in accordance with the specifications outlined in the American Petroleum Institute (API) Standard 12F. The API 12F standard provides guidelines for the construction and maintenance of aboveground storage tanks used for the storage of crude oil and…
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The leaders of Permian said Feb. 28 they will dedicate 70% of the company’s roughly $2 billion in planned capital spending to the Northern Delaware basin while the Southern Delaware basin in Texas will get about a quarter of those resources.
US-based energy company Devon Energy intends to keep to its liquids-rich basins and remain as “oily” a producer as possible due to crude’s ability to drive superior margins compared with natural gas, CEO Rick Muncrief said Feb. 28.
Looking ahead to 2024, we have designed a plan to deliver a step-change improvement in capital efficiency. By allocating additional capital to the core of the Delaware Basin and high-grading activity across our diversified portfolio, we expect to efficiently sustain our oil production for roughly 10 percent less capital.
Permian Resources anticipates that approximately 70% of its operating activity will be directed towards the Northern Delaware Basin and approximately 25% towards the Southern Delaware Basin, with the remaining portion to be allocated to its Midland Basin position.
SWN Invested $2.1 billion of capital and placed 132 wells to sales, including 67 in Appalachia and 65 in Haynesville
“Pioneer continued to deliver strong operational performance in the Midland Basin, which led to the Company placing 482 horizontal wells on production during 2023, including 135 horizontal wells placed on production during the fourth quarter”, the oil and gas exploration and production company said in an earnings news release referring to a sub-basin of the Permian basin.
Fourth quarter production was above the high end of guidance and averaged 103.4 MBoe/d (57% oil and 79% liquids). During the quarter, 14 gross wells were TIL. Notably, cumulative oil production from fourth quarter wells were 51% more productive on a per lateral foot basis in the first 90 days of production (6,848 Bbl / 1,000 lateral ft.) compared to third quarter 2023 wells.
