This is a great look! Thank you for your insight and the update. I am a very small surface land owner, 35 acres in Ward and Reeves County. But very excited to know that these developments are taking place. Hopefully my area can be a part of it. There may be stacked plays in those areas too.
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Absolutely. No telling what you will find on the way. The geologists will be all over it.
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Youâre absolutely right! They are going to be all over it! Going to be very interesting what more they find.
IMHO, the Delaware is a big wait and see. The Devonian age rocks seem to be the target but over 14,000 ft presents some economic issues. Most of the activity is on the shelf margin where pockets of less thermally mature rock might produce a higher oil cut. Of the two main players, Conocoâs Ward & Winkler wells seem to be better with an oil cut around 70%. Continental Resourcesâ initial Ward wells and the ones drilled thus far in Pecos are not economic. Low IPs and high gas cut. Delaware doesnât need more gas. A lot of these are new permits, so some reason for optimism. Doubt these companies would light 16-18 million per well on fire unless they felt like something could be gained. Then again, Apache did just that with Alpine High.
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Thank you for providing this awesome insight. My acreages in Ward County are both in the potential âpotential sweet spot.â Definitely a wait and see, but as you stated, permits are not being filed for nothing! Something is there more than likely!
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Midland Basin shelf margin and even into the deeper part of the basin around the city of Midland (like they needed more good rock) appears to be the sweet spot for the Barnett. The logs look remarkably similar to the Dallas/Fort Worth rock. It is fairly homogenous rock minus areas that overlap the Ouachita fold belt. The absolute sweet spot (so far) appears to be right under and around Odessa. 11,000-11,500 TVD is a lot more in line with pressure/oil cut than the Delaware rock. Itâs only 160-100â thick interval. The target in East Texas was always the lower Barnett but not so sure about the Permian. More of a classic shale than the SB/WC. Vertically isolated. Been some good wells drilled thus far. Continental just brought one on that IPâd at over 4,000 barrels a day just south of Odessa. Have to see what the Woodford does on this side of the Basin. I imagine it will work well in some areas.
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This is great info! Thank you for providing this phenomenal insight! I am in the Woodford Shale area. If something does come up in the Woodford area, please let us know in the forum if you donât mind. I am sure members in the forum would appreciate it as I do.
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Good stuff. Big large money.
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Oxy gave up on Delaware.
I hope with the new modern technology some companies come on back to the Delaware. It is amazing the new technology theyâre planning on rolling out.
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Itâs all about oil saturation.
Yes Sir! Definitely an unexpected find! I know we all will be keeping a close eye on it to see what unfolds.
The Permian is the gift that keeps giving!
1986 Permian was real slow.
And just think they were sitting on a gold mine and had no idea back then.
Different kind of basin. There will be a few big trips on these deep ones. Should be a lot of talent coming from North Dakota.
Hopefully theyâll come on down!
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Itâs an extra supply on top of existing reserves. Your point lacks understanding of basic supply. Itâs why people keep thinking weâre running out of oil. If prices go way up, available pockets of oil become profitable.
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I think Delaware was making more produced water than Oxy wanted to mess with.
Thatâs what weâre hoping. At some point it will go up.