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Permian E&P Signs 700 Well Agreement
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Schlumbger annouced on friday that it had signed an aggrement with Occidental Petroleum to develop the Northern Delaware Basin. This comes on the heels of the company's acquistion of Weatherford frac business.
"We have just signed an MOU with Oxy for a five year service partnership in the Aventine project in New Mexico's Delaware basin. Our joint objective is to reduce the cost per barrel in the safest and most efficient way possible.
Pending final contract negotiation, the agreement includes a minimum scope of 700 wells, exclusivity of services and construction of a Schlumberger facility within the Oxy acreage."
Below are two maps, one showing Oxy's overall leasehold in the permian basin and the other showing undrilled wells in the northern delaware basin.
Below is a map depicting Oxy's…
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