The smallest county in the Permian Basin by area (677 sq. mile)
is Loving County, located in West Texas bordering Eddy County
in New Mexico from the north and Reeves County from the west.
As of February 2017, there were 1,029 producing oil and gas wells
in the County with monthly production of 2,688 Mbbl oil and
8,494 MMCF reported in April 2017.
LOVING COUNTY OPERATORS REVIEW
Since 2010, the Wolfcamp formation in the Permian Basin has
been attractive to many oil and gas operators for its great reserve
potential and low breakeven oil price. There are 13 active oil and
gas operators regarding Wolfcamp reservoir in Loving County
(Q1 2017). Out of 228 leases in the County, Anadarko Petroleum
and Shell operate about 31.6% and 27.6% of the leases, respectively.
Because the Wolfcamp is under heavy development, the statistics
presented are a snapshot of activities at the time of this
Anadarko Petroleum Corp. holds close to 235,000 net acres in
the Delaware Basin with more than three billion barrels of oil
equivalent (BOE) net resources in Wolfcamp A. The company’s
average sale volume for Q1 2017 was 54,000 BOE per day. The
company has 15 rigs in the Delaware basin and, on average, drilled
a lateral length of 7,100 ft.
As of March 2017, Apache Corp. held 392,000 net acres in the
Delaware Basin and produced 19,000 BOE/day, of which 57% was
oil. The company discovered the Alpine High with 4,000 to 5,000
ft of stacked pay in up to five distinct formations, including the
Bone Spring, the Wolfcamp, the Pennsylvanian, the Barnet, and
the Woodford in southern portion of the basin. More than 3,000
drilling locations have been identified in Alpine High.
BHP Billiton established 78,000 net acres in the Permian and
the company is currently producing 30,000 BOE/day. The company
expects to add 850 additional gross wells in the basin. In one of
the Wolfcamp wells, the initial average production rate was re-
ported to be 1,450 BOE/day with one-year cumulative production
of 250,000 BOE and expected production over average well life of
The total production in Q1 2017 averaged about 54,000 BOE/
day with 73% liquid for Devon Energy Corp. The company also
maintained the low-cost structure in Delaware Basin with the
least operating expense (LOE) total of $39 million. Devon holds
over 500 drilling locations in the Wolfcamp. One Wolfcamp A
F2: SINGLE-WELL LEASES RANKING AND RESERVE FORECAST
0 3 6 12mi
Panther Energy 1%
Note: Cumulative production as of 1Q2017 (top left), estimated ultimate recovery (bottom left), operators distribution (top right), EUR normal distribution
based on 5,000 ft lateral (bottom right).
0 3 6 12mi