This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Energen Corporation's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Let’s take a look at the maps we have posted to our website beginning with an overview of the Permian Basin. If you’ve had a chance to pull those out, hopefully what you’ll see is we’ve sort of updated a little bit our total acreage position now to 275,000 acres and what we have done is overlayed our outlines of the new plays, the Cline play and the Wolfcamp play, particularly in the Midland Basin, we’ve also added an outline of the Wolfbone play in the Delaware Basin although we’re not active right now on the vertical play. And then on the left-hand side of the slide, we give you whether the play is vertical or horizontal and what we’re focusing on right now in each basins. If you then go to slide two, we’re going to give you a much more detailed view of how our acreage lies within these plays.

Most of you are familiar with our Wolfberry, so I won’t really cover that. Again, you can see our performance there, but obviously what’s new here is the Wolfcamp horizontal play, we’re showing 64,000 net acres in there and 785 potential locations on 160 acre spacing. And if you look at the map, down in Regan County and you go a little bit north, you’ll see that the red circle there where it has drilled eight horizontal Wolfcamp wells, the last two have been and 6,000 foot laterals and they’ve had very impressive IP rates of 900 per day. So just to the Southwest.

And then we also, as many of you know, participated in a well with Laredo where we have a red dot right there on the line between (inaudible) Glasscock County. Then we had a 21% working interest that had 700 barrel oil of equivalent per day sort of early IP rate from that 80% oil.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs