Midland Basin Operated

Midland Basin Asset Overview

  • Operated position in core Midland Basin
    • 20,900 net acres, 85% working interest, 500 locations identified in only 3 benches
  • Q2 2017 net production of 6,082 Boe/d (67% oil, 86% liquids)
    • Wells in progress drive immediate production growth
  • Position delineated in multiple benches
    • Strong offset results in the Wolfcamp A and B, Significant Wolfcamp C potential
    • 500+ locations
  • Completion evolution sets stage for further well performance improvement
    • Generation 4 completions techniques driving well results that are exceeding expectations


Wolfcamp Formation

  • Reagan County Wolfcamp
    • Thickest Wolfcamp shale section in Midland Basin
  • Current Reagan/Upton inventory
    • 1 Wolfcamp A target
    • 2 Wolfcamp B targets
  • 7 viable target benches tested or developed by industry
    • 2 Wolfcamp A targets
    • 3 Wolfcamp B targets
    • 1 Wolfcamp C target
    • 1 Cline target
  • Offset operators have developed five benches in a stacked “wine rack” pattern
    • 2 Wolfcamp A targets
    • 3 Wolfcamp B targets
  • Thermal maturity places Bold acreage in oil window with low GOR’s
    • Average 80% Liquids, 20% Gas
  • Shallower TVD than northern end of Midland Basin
    • D&C costs are lower


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