Breitling Energy Corp. of Dallas earlier this year announced completion plans for two Permian basin wells that sought to tap multiple levels of stacked shale.
In an April news release, Breitling Energy said the Hoppe 63 #1 well was drilled 8,600 ft TVD. Hydraulic fracturing was planned in efforts to release oil from up to 11 different geologic zones, including intersections with the Upper, Middle, and Lower Wolfcamp, Albaugh, Triple M, Credo, Cisco sands, Canyon B and C sands, Cline, and Strawn.
"This is the beauty of drilling in the Permian basin and is why we are focusing there right now," said Breitling Energy Chief Executive Officer and Chairman Chris Faulkner. "With one wellbore, we are able to intersect 11 potential pay zones and still be below 9,000 ft."
A second well, the Breitling Energy Sellers 66 #1 well, was drilled 8,640 ft TVD and was expected to intersect seven potential pay zones. Fracturing was planned for that well also.
Separately in remarks prepared for a speech in Houston earlier this year, Faulkner discussed how oil and gas companies need to exercise what he calls corporate social responsibility within the communities in which they operate.
Denton, Tex., which sits atop the Barnett shale, is an example of a breakdown in communication between industry and residents, he said, referring to a 2014 ballot measure in which voters agreed to ban fracturing in Denton's city limits. Resolution of litigation about that referendum remains pending.
Although Breitling Energy does not operate near communities, Faulkner said he is working to educate the public about fracturing.
He produced a movie, "Breaking Free," that describes fracturing and what it has meant for unconventional plays. Breitling Energy also donates to regional youth groups, he said.
"My response is to do more good for the industry and more good for the community," Faulkner said. "If you're going to choose to operate near a community, you need to add the cost and extra time, personnel, and advertising to the cost of your project. You need to develop a plan and be proactive. You need to let people know who you are and what you're doing."
Separately, Breitling Energy has filed Securities & Exchange documents saying it commissioned an audit of its 2014 financial statements.
In addition to exploration and production, Breitling Energy has asset management and royalty management divisions. Faulkner has noted that specific accounting rules apply to those divisions.
Breitling Energy has operations focused primarily in the Permian basin and the Mississippi oil window of southern Kansas and northern Oklahoma. It has non-operating investments in Texas, North Dakota, Oklahoma, and Mississippi.
