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Concho is an independent oil and gas company that almost exclusively develops properties in the Permian Basin. They discussed their Wolfberry operations in their Q4 2009 Earnings Conference Call on 2/25/2010.  They plan to drill 300 locations in 2010.  Their current Wolfberry spacings are 80 and 40 acre, with a well cost of $1.2MM.  11 of their 20 rigs are located in the Wolfberry Texas Permian.

This Drillinginfo generated map shows the 2010 Concho permits.  Note the majority of their activity is located in Upton county. (click on map to enlarge)

Concho To Drill 300 Texas Wolfberry Locations in 2010

Wolfberry operations are being closely monitored in the Drillinginfo Unconventional Update available to all Drillinginfo users.

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Justin Birmingham

Justin Birmingham is a Research Analyst at Drillinginfo. He creates proprietary research studies, works with statistical models and manages datasets for the DI Analytics team. Justin earned his Bachelor of Science from Texas State University – San Marcos.