Hannathon Petroleum

Website

Address

223 W. Wall St., Suite 800

Midland, Texas

79701 United States

Phone

432-687-3700

Company Description

Hannathon Petroleum is an upstream exploration and production company based in Midland, Texas. Hannathon was founded in 2007 by its managing partners, Wes Reeves and Justin Kuethe with the mission of identifying, acquiring and operating high quality assets primarily located in the Permian Basin.

Operations

The Permian Basin, which spans western Texas and eastern New Mexico, represents the most prolific hydrocarbon production region in the United States. They accounted for about 30% of U.S. crude oil production and 14% of U.S. natural gas production (measured as gross withdrawals) in 2020. Technology innovations, such as longer lateral wells and multi-well pad drilling, has helped reduce costs and increase productivity in developing oil and natural gas resources in the Permian Basin.

Spraberry Trend covers a large area – around 2,500 square miles. As most often defined, the Spraberry includes portions of Irion, Reagan, Upton, Glasscock, Midland, and Martin Counties. In 2007, the U.S. Department of Energy ranked The Spraberry Trend third in the United States by total proved reserves, and seventh in total production. Estimates have the Spraberry Shale holding up to 10 billion barrels of oil as well as 3 trillion cubic feet of natural gas. Global Hunter estimates the play’s potential recovery resources range from 4.2 to 8.8 billion BOE