There has been a lot Wolfberry activity in 2010 centered around operators trying to acquire reliable, solid IRR oil projects. One operator that already has a heavy footprint in the trend is Pioneer. At the beginning of the year, Pioneer planned to drill 125 Spraberry wells while operating up to 20 rigs or so. They recently announced a ramp up of their Permian Basin Spraberry/Wolfberry program. Below is the slide of the current plan from their May Investor Presentation. They will drill ~440 wells while operating 25-30 rigs at YE2010, and quote a 50% IRR.
Below is a map of the Pioneer Spraberry/Wolfberry wells spud in 2010. There have been 125 wells spud through May. This does not include wells that Pioneer may have reentered this year. During their YE2009 Conf Call Pioneer did mention they will be reentering some wells in the area.
DI-ESP keeps track of all things Wolfberry in the Wolfberry Unconventional Update available to all DI users.
Justin Birmingham
Latest posts by Justin Birmingham (see all)
- Cabot O&G’s output increases 35% in 24 hours, now that is something to brag about - June 3, 2011
- Brigham IPs Follow Up - December 1, 2010
- Brigham crowding the podium with 1st, 2nd, and 3rd highest IPs in the Bakken - November 23, 2010
