Piñon Resources

Website

Address

303 W. Wall St. Suite 600,

Midland, Texas 79701

Phone

(432) 217-5200

Company Description

Founded in 2017, Piñon Resources is a Midland, Texas based team focused on acquiring operated oil and gas assets in the Permian Basin. Multi-disciplinary founding partners, with industry experience spanning geology, operations, land, business development, engineering, and investment banking.

Situated in the heart of the Permian Basin, Piñon is well positioned for unique deal flow and a strong operational presence. Extensive relationships with key operations and technical personnel to recruit and staff-up for execution.

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

Dawson County, TX ranks #70 in the state for BOE produced in the most recent month (Nov 2021). The information below is the summary of oil and gas data that goes back to 1993 and contains information on the 3,181 wells that have been drilled from Jan 1993 to Nov 2021.