Drilling Down: Permian Basin revival looming on the horizon
Tue, June 16, 2020
A drilling revival may soon be underway in the Permian Basin of West Texas where a flurry of permits for new horizontal wells have been filed.
Some 42 companies filed for 109 drilling permits with the Texas Railroad Commissions from June 3 to 9. That’s more than double the 53 permits filed one week prior.
Nearly half of the new permits were filed for projects in the Permian Basin.
Irving oil company Pioneer Natural Resources led the pack with 23 permits filed to develop horizontal wells targeting the prolific Spraberry field in Midland and Martin counties.
Fort Worth oil company Double Eagle Development filed for 12 permits also targeting the Spraberry in Midland County.
Tulsa oil company WPX Energy filed for 10 drilling permits targeting the Wolfcamp and Bone Spring formations on state-owned lands in Ward and Loving counties.
Midland oil company Diamondback Energy plans to drill seven horizontal wells targeting various geological formations in Pecos, Reeves and Martin counties.
Top 10 Texas Drillers
(June 3 to June 9)
Pioneer Natural Resources 23
Double Eagle Development 12
WPX Energy 10
Diamondback Energy 7
CrownQuest Operating 6
Blackbeard Operating 3
Ring Energy 3
SM Energy 3
Ruckus Energy 2
Callon Petroleum 2
Source: Railroad Commission of Texas
Eagle Ford Shale
Houston oil company Callon Petroleum plans to drill a pair of horizontal wells in La Salle County. The wells target the Eagleville field of the Eagle Ford formation to a total depth of 12,000 feet.
The Jerry Jones-owned oil company Comstock Resources plans to drill a natural gas well in East Texas. The horizontal well targets the Carthage field of the Haynesville formation to a total depth of 12,000 feet.
French oil major Total is seeking permission to recomplete an old horizontal well inside the city limits of Fort Worth. With the drilling pad off Village Creek Road, the proposed project targets the Newark East field of the Barnett geological layer at a total depth of 9,000 feet.
Beeville-based Dan A. Hughes Co. plans to drill a vertical oil well in the ranchlands of deep South Texas. Located in the southwest corner of Kenedy County, the well targets the Stillman field to a vertical depth of 10,900 feet.