Well Cost | Well Lateral Length | Rig Count | Top Story | IP Rates-30-Day | IP Rates-24 Hour | Initial Production Rates | Drilling Program | Drilling Contractor
Concho's Permian Efficiencies Ramp Up Results; IP Rates
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In its June 2015 investor presentation, Concho Resources Inc. has unveiled its latest drilling efficiencies and corresponding results in the Permian Basin.
Improved EfficienciesAs of 1Q15, Concho has cut drilling days down from 36 (1Q12) to 22 days, while simultaneously extending lateral lengths 17%. The company averages 667 feet drilled per day (down from 372 in 1Q12).
Drilling cost per lateral foot is currently at $442, compared to $589 in 1Q12.
Concho's Current Permian InventoryThe company has IDed potential zones across its acreage:
Results by Area Midland BasinCurrent Rig Count: 2
Average Lateral: 6,343'
Average 30-Day Peak Rate: 742 BOEPD
Average 24-Hour Peak Rate: 957 BOEPD
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Southern DelawareCurrent Rig Count: 3 HZ
Average Lateral: 5,088'
Average 30-Day Peak…
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