Energen Resources’ vertical Wolfberry program in the Midland Basin finished the year strong. During 2012 the company drilled 172 gross (167 net) Wolfberry wells. Some 179 gross (172 net) wells -- including 7 drilled in late 2011 – were completed and tested at an average initial stabilized rate of 90 BOE per day (75% oil); the average 30-day rate of the wells was 76 BOE per day (77% oil).Through acquisition of proved property and leasehold during 2012, Energen Resources now has approximately 65,000 net acres in the Midland Basin that are prospective for the vertical Wolfberry play; approximately 34,000 net acres remain undeveloped. Based on 40-acre spacing, Energen Resources estimates that it has 850 potential locations remaining to be drilled; 20-acre downspacing could add another 800 locations.
Energen Reports 4th Quarter And CY12 Operating And Financial Results
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