well with a 9,000 ft lateral achieved a 30-day production rate of
3,000 BOE/day with 80% oil.
As of the first quarter of 2017, EOG Resources had 346,000 net
acres in the Wolfcamp with total drilling location at 2,660 and a
resource potential of 2,900 million BOE. On average, the company
had 30 drilling rigs operating in 2017 with an average lateral length
of 7,200 and spacing of 660 ft.
Matador Resources Co. holds 178,600 gross acres in Delaware
Basin and close to 13,500 gross acres in the Wolfcamp in Loving
County. In the Delaware Basin, the company has eight operating
rigs and 4,234 gross drilling locations, and an average daily total
production of 24,535 BOE/day in Q1 2017. For Wolfcamp A and
B, the company currently uses 3,000 lb. of sand/ft and 40 barrels
of water/ft for the 210 ft lateral length with 35 ft cluster size.
As of Q1 2017, Occidental Petroleum Corp. holds around 10,000
net acres in the Delaware Basin with about 143 Wolfcamp wells
with average lateral length between 5,950 ft to 7,100 ft. The un-
conventional production in the Permian is between 140,000 to
150,000 BOE/day. In the Greater Sand Dunes Area, Occidental
reported a horizontal well drilled in Wolfcamp A with a lateral
length of 4,500 ft and peak 30-day production of 1,221 BOE/day
with 78% oil. Another horizontal well was drilled in Wolfcamp D
with a lateral length of 4,376 ft and peak 30-day production of
1,417 BOE/day with 47% oil.
WPX Energy has 135,000 net acres in Delaware Basin. The
30-day production in one of its wells averaged about 1,538 BOE/
day. The company also holds 6,400 gross drilling locations.
Finally, Silver Hill Energy Partners, a privately held operator,
holds over 42,000 net acres in Loving and Winkler Counties in
the Delaware Basin.
RESERVE ESTIMATION TECHNIQUE
The purpose of this study was to construct a database for the
Wolfcamp formation in Loving County, Texas that includes 228
leases holding 390 wells. The well information, such as cumulative
production, well head locations, lease operators, etc. were compiled from the public sources. Note that, the working interests (if
any) are neglected for all the leases for simplicity, meaning that
only one operator is considered for each lease.
The history of the most productive wells by cumulative production of each operator is plotted in Figure 1. The longest production history is attributed to a well operated by Royal Dutch
0 3 6 12mi
0 0.2 0.4 0.6 0.8 1.0 1. 2
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
F3: TWO-WELL LEASES RANKING AND RESERVE FORECAST