Wolfcamp

Houston-based exploration and production company EP Energy Corp. said Thursday it has tapped private investor Wolfcamp Drillco Operating LP to form a 150-well joint venture (JV) in the Permian Basin.

Onshore independent Resolute Energy Corp. expects to more than double its 2017 production year/year, lifted by solid results in the Permian Basin’s Delaware formation.

Callon Petroleum Co., already on a tear to expand its Permian Basin inventory, has agreed to pay $615 million to gain entry into the Southern Delaware formation, a 30% boost in acreage to complement the Midland oil and natural gas operations.

Centennial Resource Development Inc. on Monday nabbed Silverback Exploration LLC’s leasehold and related upstream properties in West Texas, including more than 34,000 net acres and 3,500 boe/d net production in the active Delaware sub-basin.

In the largest estimate ever of unconventional oil in the United States, the U.S. Geological Survey said the Wolfcamp Shale within the Permian Basin’s Midland formation in West Texas contains an estimated mean of 20 billion bbl of oil, 16 Tcf of associated natural gas and 1.6 billion bbl of natural gas liquids.

Energy Hunter Resources Inc. is acquiring Permian Basin acreage in West Texas to target Lower Spraberry and Wolfcamp formations, adding more weight to its emerging U.S. onshore portfolio, the Dallas-based explorer said Wednesday.

West Texas-focused Parsley Energy Inc. continued its Permian Basin spending spree on Monday, agreeing to pay $400 million for a bolt-on leasehold in the Midland sub-basin.

The Spraberry/Wolfcamp play in the Permian Basin continued to be an oasis of strong economics and robust production for Pioneer Natural Resources Co. during the first quarter.

The Spraberry/Wolfcamp play in the Permian Basin continued to be an oasis of strong economics and robust production for Pioneer Natural Resources Co. during the first quarter.