Battalion Oil just closed on an acquisition of the Monument Draw in Ward County. The plan is to add more laterals to acreages within the Ward County region from what I’ve read. This again proves that regardless of what is happening, the Delaware and overall Permian Basin is moving full speed ahead! What are your thoughts? Love to hear them!
Company acquired terrible acreage with no prospective targets on the Central Basin Platform unfortunately. This is the short of a lifetime.
Capital is the issue, not prospects.
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Well? Which is it? Prospects or capital? Inquiring minds want to know.
They have some good prospects, but they lack capital to develop those prospects. Many would question whether they have the personnel and tech to effectively develop prospects given their long slide. They have made some stretches at additional reorgs after coming out of bankruptcy with dismal results. My guess is they are hanging on for a takeover. Yes, they have some new capital from West Quito and a private placement; however, that is hardly enough capital in this age of horizontal development.
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They have a new acid gas treating agreement with Targa Resources to secure ample sour gas treatment capacity. Definitely something coming up. The last 6 months there has been a good bit of activity in the Ward County area I’ve noticed.
I’ve noticed since October in the Ward County area there has been a good bit of activity in that area. There are some huge investments being made in this area as of late.
Treating is always an issue, but their true problem is capital. They have had significant personnel losses over the last 2 years.
I agree with your assumption earlier. They are looking for a takeover. Those are valuable assets. A company will step in to take that over and will have the capital and technology to extract those minerals. I have acreage in Block 33 and Block 34 right in the area so I am curious to see what unfolds there.
Unfortunately they don’t understand geology. This area they acquired is squarely on the CBP - no Wolfcamp Shale or Bone Springs to drill. They are lying to investors and it’s not accurate representation of drillable inventory.
Thank you for this insightful information. There is still that Devon and Coterra 58 billion dollar merger and the CPV Basin Ranch projects happening in Ward County that seem to be pretty big. I keep my eyes and ears open for anything transpiring in Ward County.
Sections 47, 48, 51-60 Block F are in the Delaware Basin. There are deeper Woodford wells on and east of the acreage indicating still in the basin.
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Thanks for the update. I have acreage near Barstow and 1927 right next to the Pecos River. Curious to see if any activity maybe coming in or near those areas. Sounds like that may occur.
Nothing there other than Wolfcamp or Bone Spring. Woodford is too deep in that area.
Just came across this. I too have acreage in Ward County Block 33 section 1, 1927/1776 also near the Pecos. I’m always curious about any up–coming activity in that area.
Hello Eliza! Iam a news geek! Especially for Ward County and Reeves! There were just 4 permits requested on 3/12 by an oil and gas company in Blk 34 sec 168. Very close to us. Blk 33 sec 53 is exactly where the CPV Basin Ranch 5 billion dollar project is going to be. I also have acreage in Blk 33 sec 6 so we re neighbors there. At some point you ll be getting a call.. Things are happening now Continental Resources has plans there to fill in laterals in Blk 33 near the Pecos River. I check the Delaware basin news daily.
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Thank you for the info neighbor!
Absolutely no problem! If you happen to hear any news for our area,please share if that’s ok. Thanks a bunch neighbor!
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You got it!