Insight
A Wolfcamp A contest: Howard makes up ground on Midland county
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Are any other areas left in the Midland Basin, besides Mildand and Martin counties, that allow operators to keep production up and spending down? The answer is yes. In Howard and Borden counties, our Extension sub-play, Wolfcamp well performance rivals all other areas in the basin. Due to favorable geology and lower costs, capital efficiency metrics are some of the best in tight oil. And our most recent evaluation of basin economics shows the Extension having the lowest Wolfcamp A breakevens. SM Energy is the most active public operator in the area, and its RockStar development looks particularly good. The company is on weak financial footing, but the performance of its Howard asset should be attracting attention. Its unique completions approach and further cost reductions help to maximize returns. Permian-watchers should take note.
Table of contents
- Executive summary
- A 15% reduction in breakevens
- Extending understanding of Extension geology
- Maximizing what remains
- More on costs
- Who’s best placed to keep Howard at the top?
Tables and charts
This report includes the following images and tables:
- Extension sub-play Wolfcamp A horizontal wells and operators
- Type curve and time-normalized production for Wolfcamp A Extension sub-play wells completed from 2018 to 2020
- Map of Midland Basin hydrocarbon pore volume and gas/oil ratio
- New well 180-day cumulative oil per lateral foot (2016 to 2019 Wolfcamp A completions)
- Q2 2020 Midland Wolfcamp D&C cost by operator
What's included
This report contains:
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