Elk Meadows Resources LLC San Andres Horizontal Well Project DUG Permian Basin Conference May 2016 1
Company Background Elk Meadows Resources LLC (Elk Meadows), a Delaware limited liability company, was founded in 2013 by management in partnership with TPH Partners Elk Meadows initial goal was to capture a world-class oil resource…
Project Overview Our initial project targeted the San Andres formation on the Central Basin Platform of the Permian Basin (Andrews and Gaines Counties, Texas) The San Andres formation is a prolific conventional reservoir that has been…
Asset Highlights Total existing leasehold covers 16,000 gross acres in Andrews and Gaines Counties, Texas Central Basin Platform Stratigraphic Column A total well inventory of 96 San Andres locations (1-1.5 mile laterals) o 6 PDP…
Land Attributes Given the extent of historical vertical activity in the region, land is fragmented and held by savvy owners and operators o Significant land expertise, creativity and elbow grease was required to establish Elk Meadows…
First Three Wells Look Excellent Daily Oil Production by Well (Bbl/d) JD Biles 2-1H JD Biles 9-1H Goen 22-2H Type Curve 1,000 Daily Oil Production (bbl/d) 100 10 30 60 90 120 150 180 210 240 270 300 330 360 390 420 450 480…
With Performance Above Type Curve Expectations Cumulative Oil Production by Well (Mbbl) JD Biles 2-1H JD Biles 9-1H Goen 22-2H Type Curve 80 70 60 Cumulative Oil Production (Mbbl) 50 40 30 20 10 30 60…
Robust Well Economics Key Assumptions & Statistics ( in thousands, except per unit amounts) Qi (BMR-bbl/day) 301 Initial Decline 99.0% B-factor 1.25 Total EUR (Mboe; 6:1) 238 Gross Oil (Mbbl) 228 Gross Gas (MMcf) 80…
Science Driven Evaluation & Optimization Program Conventional subsurface mapping and cross sections Highly detailed and thorough log analysis Three-dimensional seismic with non-traditional processes Mass spectrometer logging…
3-D Seismic Map with Relative Porosity Volumes for Existing and for Ranking Current Program Wells 11
Well Performance 6-Month Cumulative Production 12
Strong Initial Results w/ Opportunities for Improvement Microseismic Map of Initial 7 Stages for Well 1 Shows Gaps in Frac Coverage 13
Continuous Improvement Program in Place Microseismic Map of 9 Stages in Well 5 Shows Coverage Improvement with Smaller Stages 14
What is ahead for Elk Meadows Dempsey Creek Project Continue with our rigorous science-based optimization program its still in the very early innings for this play Use recent data from a new 1.5 mile lateral to re-consider the layout…
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