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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.

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