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Energen Touts Permian Appraisal IPs; Development Potential

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   |    Tuesday,August 25,2015

In its latest investor presentation, Energen Corp. has unveiled its production rates at key wells across the Permian Delaware and Midland basins.

Additionally, the company revealed plans to expand its development to target the Lower Spraberry play.

Midland Basin

In 2Q15, Energen highlighted three appraisal wells in the Midland Basin, which targeted the Wolfcamp and Spraberry plays.

The strongest well IP came from the Smith 48-37 #501H, which had a 24-hour IP rate of 1,067 BOE/d.

2Q15 Well Result Averages:

  • Peak 24-Hour IP Rate: 1,076 BOE/d
  • Peak 30-Day IP Rate: 856  BOE/d

 

Energen also detailed the estimated total potential of its Midland Basin assets based on the appraisal program results.

Potential is based on the following metrics:

  • 660-foot spacing
  • 4,400'/6,700'/7,500' lateral lengths

Based on the results, Energen is expanding its Midland Basin development to include wells targeting the Lower Spraberry play in addition to the Wolfcamp.

Delaware Basin

In 2Q15, Energen highlighted six appraisal wells in the Delaware Basin, which targeted the Wolfcamp A and B.

The strongest well IP came from the Piper St. 54-14 #1H, which had a 24-hour IP rate of 1,498 BOE/d.

 

Energen also detailed the estimated total potential of its Midland Basin assets based on the appraisal program results.

Potential is based on the following metrics:

  • 880-foot spacing
  • 4,400' lateral lengths



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