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Energen Generates Strong Upper Wolfcamp Results In Midland, Delaware Basins

Stocks in this article: EGN

Energen Corporation (NYSE: EGN) announced today that its Permian-focused exploration and production unit, Energen Resources Corporation, is generating excellent results from its first well to test the upper Wolfcamp in the Midland Basin as well as from three upper Wolfcamp shale test wells it has drilled in the Delaware Basin. [Locator maps are available at www.energen.com].

“We are encouraged by the results of our upper Wolfcamp wells in the Permian Basin,” said James McManus, Energen’s chairman and chief executive officer. “We have said before that success in even one of the sub-basins would be a significant development for a company our size. When you combine the results of our own wells with recent results of other operators, we believe the outlook for success in both basins has greatly improved,” McManus added.

“Energen could well be a major driller in the Permian Basin for many years to come. Large-scale success in multiple benches of the Wolfcamp could result in more than 5,300 unrisked locations based on 80-acre spacing and 4,400-foot laterals. Even heavily risked, Energen’s Wolfcamp potential is significant.”

Energen’s Wolfcamp Potential

 

IN THE MIDLAND BASIN:

 

Well

name

  County   Target  

Lateral

length

(feet)

 

  Stimulation   Peak 24-Hour IP   Peak 20-day Average
          Boepd  

Oil

(Bopd)

 

NGL

(Bpd)

 

Gas

(Mcfd)

  Boepd  

Oil

(Bopd)

 

NGL

(Bpd)

 

Gas

(Mcfd)

Lavaca 38

#101H

  Glasscock   Upper   4,250   Slick water   861   519   192   898   709   458   141   659
  • Energen’s first operated Wolfcamp well in Midland Basin
  • Initial rates comparable to results of neighboring operators
  • On gas lift
 

“Our first operated Wolfcamp well in the Midland Basin is looking very good,” said McManus. “Based on the result of this well and the results of others in the Basin, it appears that multiple benches of the Wolfcamp shale will be productive and are candidates for future pad drilling, which will only make the economics stronger.

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