Just a few excerpts from that presentation:
Its 131,400-acre position straddles the Irion and Crockett county line, with additional leasehold in central Reagan County. “EOG’s results have been great,” chief executive Mark Papa touted in a recent quarterly
conference call. “I don’t know whether that’s
due to better acreage or better technology, but
the results speak for themselves.” All of the company’s early wells targeted the middle Wolfcamp, with recent results producing from 700 to 1,700 barrels of oil with a gasliquids and rich-gas mix. These wells were
drilled with 7,000- to 7,500-foot laterals and
completed with 30 to 34 stages. Newer wells
have laterals averaging 7,600 feet....
Based on his unique perspective, the horizontal Wolfcamp “could become one of the most significant plays based
on our current understanding of it.” Dove even
goes as far as putting the “game-changer” tag
on the play....
Pioneer projects ultimate recoveries from
Wolfcamp horizontals in the range of 350,000
to 500,000 BOE, but the first two wells already
look to exceed the average of those. “The first
well has already made 45,000 barrels in the first
90 days,” notes Dove. “That’s a good sign.”...
“The Cline looks as good as or maybe
slightly better than the Wolfcamp,” says Laredo
president Randy Foutch. “And it holds the entire
Wolfcamp section by production.”
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