EOG’s Permian Trifecta

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EOG is now starting to put something together in the Texas side of the Delaware Basin. According to the company’s recently announced fourth quarter/end of year results, EOG has “confirmed a new shale play” with the completion of two Wolfcamp horizontals, where they have an estimated reserve potential of roughly 800 MMBoe net. So what is so new about the Delaware Wolfcamp? The answer to that is nothing really; it is just starting to unfold for EOG. The company has been very active in Crockett and Irion Counties developing the Midland Basin Wolfcamp. However, these are the first horizontal wells to be completed in Delaware Basin Wolfcamp for EOG. In New Mexico EOG is currently targeting the Leonardian-aged shales, but also has an inventory of gassy, historic Wolfcamp wells.

Here are a couple of tables comparing recent well results and operational metrics for EOG in the Permian Basin:

EOG’s Permian Trifecta

EOG’s Permian Trifecta

Just in case you are curious as to whom the other Delaware Basin Wolfcamp players are, I’ve provided a map below. The permit data was pulled in from the Enverus web application and dropped into 3rd party GIS software.

EOG is a top-tier operator and arguably the best on-shore unconventional operator at that. So it will be very interesting to compare these three Permian Basin plays with one very good operator as time progresses. It should be intriguing to discover what types of drilling and completion techniques will work best in each of these specific reservoirs and which will be the most economic. Please feel free to provide any comments on these topics below and as always check out our other Unconventional Reservoir Blogs for news and analysis provided by DI Analytics.

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Matt Menchaca

Matthew Menchaca is a Research Analyst at Drillinginfo. He is a key member of the Data Management Department and the DI Analytics group. He performs industry research, tracks play development and provides various types of analysis on unconventional resource plays in the U.S. Matthew graduated from the University of Texas at Austin in 2010 after studying Geography and Geological Sciences.