CALGARY, Alberta (Oct. 7, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, is releasing a series of reports on inventory, economics and development trends across key North American oil and gas basins. Building on EIR’s recent analysis of North American drilling inventory and resource life, the series examines how those trends unfold basin by basin. The organization’s latest report focuses on the emerging oil-directed Barnett-Woodford development opportunity in the Midland Basin.
EIR estimates this play holds more than 6,400 locations representing approximately 3 Bbbl of undeveloped recoverable oil resource, making it the largest source of undeveloped oil among interval groups in the basin. For comparison, that resource is equivalent to approximately 75% of what remains in the Middle Bakken and Three Forks across the U.S. Williston Basin.
The opportunities have developed rapidly. EIR notes the Barnett-Woodford was absent from most operator and investor models as recently as 18 months ago, while development activity has accelerated as early results have supported broader programs. Average Barnett-Woodford well performance exceeded the Midland Basin base by more than 30% since 2025. At $800/ft well costs, EIR estimates breakevens of approximately $41/bbl, in line with the recent Midland and Delaware Basin averages.
“The Barnett-Woodford has quickly transitioned from a relatively underappreciated interval group into a material source of genuinely incremental Midland Basin oil inventory. With more than 6,400 identified drilling locations and well economics increasingly competitive with established Midland targets, the play represents the largest oil-directed expansion opportunity in the Lower 48,” said Stephen Sagriff, EIR director and report author.
Key takeaways:
- The Midland Basin Barnett-Woodford contains more than 6,400 locations and approximately 3 Bbbl of undeveloped recoverable oil resource, according to EIR.
- The estimated resource is approximately 75% of what remains in the Middle Bakken and Three Forks across the U.S. Williston Basin.
- Average Barnett-Woodford well performance exceeded the Midland Basin base by more than 30% since 2025.
- At $800/ft well costs, EIR estimates Barnett-Woodford breakevens of approximately $41/bbl, broadly converging with the Midland and Delaware Basin averages.
- After normalizing for development maturity, wells per section and timing, EIR ranks Ector, Crane and northwestern Upton counties as the strongest-performing region, with recent wells averaging a ~$42/bbl breakeven, followed by southeastern Andrews, southwestern Martin and western Midland counties at about $46/bbl.
Figure 2 | Undeveloped Oil Resource by Midland Flow Unit
EIR’s analysis pulls from a variety of products including Enverus ONE™.
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About Enverus Intelligence® Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.
