Topic: Howard County TX

Surge Energy, EOG Resources, and Antero Well Updates

Surge Energy completes Spraberry well (2018-03-10) Houston-based Surge Energy reported the completion of a horizontal well in the Spraberry Trend in Howard county, Texas. The Permian well produced 24-hour IP rates of 194 bbl of oil, 347 MMcf of gas and 926 bbl of water along its 7,028 ft lateral for a gas-oil ratio of 1788. Drilled to 7,432 ft, the Clark Unit B 24-13 62SH is equipped with a downhole actuation sleeve with a PSIG of 8856.   EOG Resources Completes 2-mile...

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SM Energy Completions Cost Down to $400 Per Lateral Foot

SM Energy (NYSE: SM) is one of the few operators who has a positive free cash flow during 2016. They have reduced spending by almost half since 2015 and continue to manage costs having spent just under half of their planned $685 to $690 million for the year. They have taken advantage of the cost savings in the low oil price environment and have stuck to the core areas that will generate returns for them. The chart below shows SM...

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Callon Petroleum Expects 50% Production Growth for Permian

Callon Petroleum (NYES: CPE) is a pure play Permian operator focused in Midland,Howard and Regan counties and is currently running a one rig program. Callon achieved production of 12,440 Boepd during the first quarter realizing production growth of 45% since the first quarter of 2015. Second quarter production is forecasted to be 14,000 Boepd at the midpoint. CPE expects to reduce fracturing cost by 62% from the last quarter of 2014 in the second quarter of 2016. Big Star Acquisition Adds Inventory...

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Permian: Midland & Crockett are Top Counties for Drilling Permits

The week of July 17th drilling permit activity was down -34%, with 65 permits issued. The top counties were Midland and Crockett. Both counties had 0 permits issued the week prior. Rig activity in the Permian showed positive signs, with rigs increasing +3 this week.The chart below shows the decline in activity this year compared to the same week at this time last year, which had 235 permits during the week. Core Permian Counties The top 5 permitting counties from last week (2015-07-10), which include Reeves, Lea,...

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