Texas: Energy adds Bone Spring/Avalon acreage

By OGJ editors
HOUSTON, Jan. 7
– Energen Resources Corp., Birmingham, Ala., has purchased 3-year leases on 17,000 net acres in the Bone Spring and Avalon shale trends in the Permian basin from Texas state agencies for $15.3 million.

The company hasn’t formulated drilling plans on the new leases, but it estimates that its overall acreage position will support 150 Third Bone Spring and 250 Avalon shale drilling locations. The new leases, in Reeves, Ward, Loving, and Winkler counties, potentially have 50 Bone Spring and 50 Avalon shale locations on 320 acre spacing.

A typical Third Bone Spring sand horizontal well has 400,000-500,000 bbl of oil equivalent estimated ultimate recovery at 10,500-11,500 ft true vertical depth at roughly $7.5 million/well, Energen said.

Energen has drilled eight Bone Spring wells in Ward and Winkler counties and participated in another 23 wells. It revealed plans in December 2010 to drill another 13 Bone Spring net wells in 2011 and at least one Avalon shale well.

Related Articles

Permian briefs

08/13/2014

WoodMac: Wolfcamp spending could surpass that of Bakken by 2017

08/04/2014 Activity in the Wolfcamp shale is expanding and, by as early as 2017, could overtake the Bakken in tight oil spending, according to analysis on the...

Permian operators increasingly target shale as new technology rejuvenates legacy oil field

06/10/2014

The old saying "the best place to find oil is in an oil field" is holding true in the Permian basin.

Apache fracs Wolfcamp wells without fresh water in dry Barnhart project area

02/11/2014 At a site in drought-stricken West Texas, Apache Corp. has devised a system to hydraulically fracture wells in the prolific Wolfcamp shale without ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected