Texas Drilling Intents Filed

• Pioneer, with 20 horizontal drilling rigs in operation, remains one of the top players in the Permian

• OXY, currently the largest exporter in the Permian, continues to take advantage of their position in the Basin. Additionally, unlike many operators who are experiencing issues due to lack of pipeline capacity, OXY has already secured multiple pipeline commitments for the coming years.

Texas Completion Filings

Texas Frac Jobs

We took a look at Anadarko’s activity in the Delaware Basin using oseFrac (Anadarko’s position is exclusive to the Texas side of the border). About half of Andarko's hydraulic fracturing activity in the Delaware appears to be solidly in the sweetspot of Loving county, with Reeves and Ward splitting the other half. In other words, Anadarko is crushing the fairway in the Wolfcamp.

Looking into Anadarko’s activity over time, Anadarko’s expertise seems to be guiding them to frac more and more in Reeves of late, with Loving remaining a core focus. Ward doesn’t seem to be quite as attractive in terms of count of hydraulic fracturing activity from 2015 to 2018. We expect that trend to continue through 2018.