Railroad commission of texas, 2014, final order amending field rules for. Wolfcamp shale formation in the delaware and midland basins. Kocurek industries has developed state of the art facilities for producing shale cores from our supply of outcrop rock and from well cores provided by our clients. The spraberry wolfcamp shale play permian midland basin spraberry wolfcamp stacked shale play 20. Second quarter 2014 earnings release operations supplement notice to investors this earnings release operations supplement contains certain forwardlooking statements within the meaning of section 27a of the securities act of 1933, as amended, and section 21e of the securities exchange act of 1934, as amended and, whenever. Local representative of series is wolfcamp formation, which is about 600 feet thick and consists of alternating thick beds of shale.
Exxonmobil continues to increase wolfcamp position in permian. Wolfcamp high grading and the effects thereof report. This is what makes this area so profitable at different depths. Investor relations analysts, investment professionals, and shareholders. Nov 15, 2016 the wolfcamp shale in the midland basin portion of texas permian basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1. Schwartz the wolfcamp formation consists of a multiple billion barrel oil equivalent resource opportunity in the delaware basin. Some people call the wolfcamp shale the wolfberry trend.
The following maps show the drilling history and oil and gas production of selected lowpermeability, continuoustype shale reservoirs. National and global petroleum assessment assessment of. Permian operators delivering strong production hart energy. During the quarter, the company closed the previously. Since the beginning of this century the shale oil production has increased from practically zero to currently supply almost half of the u. So far the company has drilled 29 wells into the wolfcamp shale, while it has several rigs running to continue testing. The wolfcamp shale is an oil and gas zone directly below the spraberry trend. Its storage space includes matrix porosity, natural fractures, and organic materials. Big oil companies are rolling up shale plays, just in time. These wells had an average 30day initial gross production rate. While investors have flocked to operators with exposure outside of the permian, and we. The wolfcamp shale sits in west texas and contains 20 billion barrels of oil and 16 trillion cubic feet of natural gas.
This is the first assessment of continuous resources in the wolfcamp shale in the midland basin portion of the permian. Wolfcamp high grading and the effects thereof report wood. Permian basins oil and gas industry find, read and cite all the research you need on researchgate. Drillnomics analysis of the wolfcamp shale reeves county, texas january 11, 2016 in the last 5 years, the mature permian basin has been brought back into the oil and gas spotlight as one of the most prolific unconventional resource plays in the united states with the discovery and development of shale. Crude oil and lease condensate proved reserves rose by 12%,and natural gas proved reserves rose by 9% table 1. Oxy permian business overview acres wells production gross oxy operated wells including producers and injectors, and idle wells. Worth basin, the lower permian shales and spraberry formation midland. Community news about the wolfcamp shale in west texas news where you get to participate. Wolfcamp series is not exposed in guadalupe monntains but comes to surface in sierra diablo. Ngl totaled 450 bbld in the wolfcamp, 300 bbld in the bone spring and 600 bbld in the leonard shale. Wood mackenzie 2016 production, 3217, company nwi% prod uction rates, operators shown represent 85% of permian basi n. The case of eagle ford linnea lund production of oil and gas from shale is often described as a revolution to energy production in north america. The second well was drilled into the lower wolfcamp shale. Data from ihs energy 2016 and baumgardner, et al 2014 modified.
Lower spraberry shale and jo mill shale, ii 100acre spacing on 50% of total acreage and iii. Net production in the permian basin for 2014 averaged 33. To provide a better hydrogeologic understanding of the permian basin, particularly the origin, nature, and potential flowpaths of fluids from shale reservoirs, this paper investigates the geochemistry of formation brines, with particular focus on. Eagle ford shale 1 2 targeted landing zones eog fourth quarter 2015 investor relations report dated 16 february 2016 three efs wells reported 26 feb 2016. Aggressive high grading allowed production metrics to perform quite well, considering severe investor pressure to rightsize businesses. Recent usgs report was for wolfcamp only and midland basin only 2,500,000 us oil production by basin 500,000 1,000,000. Oil production exceeds guidance q2 results are highlighted by 8% production growth from the companys stack and delaware basin assets compared to the first quarter. To determine shale volume, for the spraberry wolfcamp, the potassium thorium kth curve from the ngt was used figure 3. The wolfcamp shale in the midland basin portion of texas permian basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.
For this reason, xto makes best efforts to recycle water where practical. Pay distribution and basin architecture of the wolfcamp shale. Weve seen high grading play out before in other shale plays. The geological survey also revealed that the wolfcamp shale formation holds 16. The wolfcamp shale formation in the permian basin of west texas is a complete reservoir system of source, seal and reservoir. For example, xto first began recycling water in the permian basin to support its wolfcamp shale operations in 2012 in eddy county, new mexico.
Highresolution core studies of wolfcampleonard basinal. Oil and gas investor, august, hart energy publishing. Retreating to the best shale acreage helps immensely when the chips are down. First quarter 2014 earnings release operations supplement permian continued wolfcamp shale apache has an estimated 502,000 gross acres 401,000 net prospective for wolfcamp shale. Now, they are producing so much that opec has had to recognize the value of shale production. Successful completion optimization of the eagle ford shale. Energy information administration eia official energy statistics from the u. Geochemistry of formation waters from the wolfcamp and cline. National and global petroleum assessment assessment of undiscovered continuous oil resources in the wolfcamp shale of the midland basin, permian basin province, texas, 2016 u sing a geologybased assessment methodology, the u. Wattenberg field, eagleford shale and wolfcamp shale assets. In culberson county, texas, cimarex now has three wells producing from the wolfcamp d formation that were completed with an upsized frac. First quarter 2014 earnings release operations supplement.
Crude oil and natural gas proved reserves, yearend 2018. Jan 09, 2014 the massive wolfcamp shale formation holds up to 50 billion barrels of oil equivalent here are two of the best stocks to buy to profit from it. They survived the oil price crash of 2014 and opecs attempt to manipulate the market. Global hunter securities analyst dan morrison, in a november research report, recognized the unfolding drama as well. The wolfcamp shale horizontal developments in the delaware have been somewhat limited in the northern portions of the basin with shallower objectives offering stout returns. Texas at austin, bureau of economic geology, report of investigations no. Two stocks to buy to tap into the massive wolfcamp shale. Testing wolfcamp shale test new completion recipes evaluating most optimal stacking of high well density resource waha, coyanosa appraise avalon shale and 3 bone spring.
A deeper understanding of rock physics is necessary for successful exploration and production. We expect the horizontal wolfcamp in the southern midland. Refer to item 7 of part ii of our annual report on form 10ka for the year ended. This is a very significant oil field with rapidly growing production and drilling activity. Using hydraulic fracturing safely and reliably for over 60. Dallas matador resources, an independent engaged in shale and unconventional exploration, development, production and. Geological survey assessed technically recoverable mean resources.
Highresolution core studies of wolfcampleonard basinal facies, southern midland basin, texas robert w. Annual report, you will see your company at work in many other. Rowe sws aapg meeting, may 2014 sws aapg meeting, may 2014 c. However, american producers like pioneer natural resources and eog.
The mineral composition and lithology are similar to the eagle ford shale, with a high density of natural fractures. Subsurface gas and oilshale samples of permian, fort worth, and. Part 1 published on july 18, 2017 july 18, 2017 273 likes 63 comments. Wolfcamp shale news, companies, geology, wells, maps. Pay distribution and basin architecture of the wolfcamp. Highresolution core studies of wolfcampleonard basinal facies. Delaware wolfcamp shale is a separate formation that lies beneath the bone spring, it is about 2,000 thick. Nations biggest shale oil field found in texas ecowatch. Wolfcamp shale 2017 drilling news, leasing, wells, budgets, regulations and midstream. Adapted from poster presentation given at aapg 2014 southwest section annual.
Local representative of series is wolfcamp formation, which is about 600 feet thick and consists of alternating thick beds of shale and thin beds of limestone. Usgs estimates 20 billion barrels of oil in texas wolfcamp. Targets for unconventional gas include the devonian woodford shale, the mississippian barnett shale, and the permian wolfcamp shale. Second quarter 2014 earnings release operations supplement. Portions of the definitive proxy statement for the registrants 2014 annual meeting of. Pioneer natl resources dec 2016 investors presentation. The company is targeting oil dominant zones from the upper spraberry formation down to. Cimarex continues to experience good results in the permian region from the application of its upsized frac design in the wolfcamp shale play. Matador resources reports drilling progress in wolfcamp shale. Geological survey usgs announced it found the largest continuous oil and gas deposit ever discovered in the u. Pdf on aug 15, 2014, tariq ali and others published economic impact. On february 11, 2014 the environmental protection agency epa issued a final permitting guidance for oil and gas hydraulic fracturing activities using diesel fuels. Formation and the underlying wolfcamp shale has resulted in the.
Investors the sec prohibits oil and gas companies, in their. Crude oil and natural gas proved reserves, yearend 2018 another year of stronger oil and natural gas prices increased 2018 oil and natural gas proved reserves in the united states to another alltime record level. Crude oil and condensate totaled 1,950 bbld in the wolfcamp, 1,300 bbld in the bone spring and 1,200 bbld in the leonard shale, according to the companys secondquarter 2019 results report. During the 1980s, vertical wells produced oil in the wolfcamp area. The wolfcamp shale is an oil and gas formation found in the whole of permian basin. The geological survey also revealed that the wolfcamp shale formation holds 16 trillion cubic feet of natural gas. While thorium is not part of the chemical composition of shales it is often deposited in shale. Potassium is an elemental component of most shales and the source for the gamma ray response typically seen in shales. Drillnomics analysis of the wolfcamp shale reeves county. Pay distribution and basin architecture of the wolfcamp shale in the delaware basin kenneth m. Feb 19, 20 the wolfcamp shale in southern midland basin is a world class source rock located in peak oil generation and early gas generation window. Successful completion optimization of the eagle ford shale supplement to spe paper 170764. And thats exactly what wolfcamp operators did last year.
For a reconciliation of ebitdax to the nearest comparable measures in accordance. Subsequently, the bulk of recent drilling activity has been targeting the wolfcamp shale. Federal epa releases final guidance for the use of diesel fuel in hydraulic fracturing. Anadarko highgraded its permian position in the 4th quarter by divesting more than 7,100 net noncore acres in the midland basin and used the proceeds to acquire nearly 10,000 net acres in the delaware basin adjacent to its core wolfcamp shale position. Other recycling programs ultimately peaked at about 40,000 barrels per day at our lhs ranch development in the midland basin. Length of the carry jda o expenditure of entire carry consideration o defined time period o extension due to lower commodity pricing offramps jda o investors are increasingly requesting some type of offramp andor. The massive wolfcamp shale formation holds up to 50 billion barrels of oil equivalent here are two of the best stocks to buy to profit from it. Corporate profile energen corporationis a domestic, independent, oil and gas exploration and production company with more than 3. News and updates news releases exxonmobil continues to increase wolfcamp position in permian basin. Low permeability reservoirs in the basinal deposits of the brushy canyon sandstone have also added significant oil production. Permian investor presentation march 2012 media corporate ir net. Money map press home money map report energy advantage novax report. Spraberry wolfcamp shale and deeper intervals are located in the midland basin of the permian basin.
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