The Midland Basin’s Barnett-Woodford interval is becoming a significant addition to U.S. shale oil inventory. Enverus Intelligence Research (EIR) estimates more than 6,400 drilling locations containing approximately 3 billion barrels of undeveloped recoverable oil. That makes it the basin’s largest undeveloped oil resource among interval groups—equivalent to roughly 75% of the remaining Middle Bakken and Three Forks resource in the U.S. Williston Basin.
Economics are approaching those of established Permian targets. According to EIR, average Barnett-Woodford well performance has exceeded the Midland Basin baseline by more than 30% since 2025. At assumed well costs of $800 per lateral foot, estimated breakevens are approximately $41 per barrel. After adjusting for development maturity, well density and timing, EIR identifies Ector, Crane and northwestern Upton counties as the strongest-performing region, with recent wells averaging roughly $42-per-barrel breakevens.
OilGasLeads’ supplied drilling report records 198 Barnett-Woodford wells drilled in 2026, covering activity dates from January 3 through October 5. Continental Resources leads with 43 wells, followed by Fasken Oil and Ranch with 24, Diamondback Energy with 22, BKV Corporation with 21, and Mewbourne Oil Company with 16. Together, these five operators account for approximately 64% of reported activity.
The report also identifies contractors already participating in development. Cactus 402 leads individual rigs with 21 wells, followed by H&P 426 with 13, H&P 659 with 11, and Patterson 588 with 10. These counts provide oilfield services (OFS) companies with specific accounts and contractor relationships to evaluate as the interval gains a larger role in operator inventories.
The Barnett-Woodford report contains 198 wells drilled in 2026, with activity dates from January 3 through October 5, 2026. Barnett-Woodford
Top 10 Operators by wells drilled
Rank Operator Wells drilled 1 Continental Resources 43 2 Fasken Oil and Ranch, Ltd. 24 3 Diamondback Energy, Inc. 22 4 BKV Corporation 21 5 Mewbourne Oil Company 16 6 OXY USA Inc. 14 7 BTA Oil Producers 13 8 FireBird Energy II LLC 9 9 Elevation Resources LLC 5 10 Blackbeard Operating, LLC 4
Top 10 Contractor and Rig combinations by wells drilled
Rank Contractor and Rig Wells drilled 1 Cactus 402 21 2 H&P 426 13 3 H&P 659 11 4 Patterson 588 10 5 Scan Denali 8 6 Patterson 562 7 7 Patterson 565 7 8 Scan Reliant 7 9 NorAm 22 6 10 NorAm 26 6
Ensign T138, Ensign 774 and AKITA 801 also recorded six wells, tying with NorAm 22 and NorAm 26.
Industry Impact
Additional economic drilling inventory can help sustain North American supply and demand for drilling, completions and production services. The U.S. role as a “Safe Barrel” reflects the strategic value of domestic production supported by established infrastructure and reduced exposure to overseas supply disruptions. The Barnett-Woodford adds potential resource depth, although undeveloped inventory does not establish a production schedule.
Sales Strategy
Prioritize the leading operators in the drilling report, then assess their recent permits, rig activity and procurement requirements. Focus outreach on measurable drilling efficiency, completion performance, water management and production reliability, using EIR’s county findings to guide geographic targeting.
Two-Sentence Summary
Enverus estimates the Midland Basin’s Barnett-Woodford contains more than 6,400 drilling locations and 3 billion barrels of undeveloped recoverable oil, with estimated breakevens near $41 per
Author: phinds