Texas Weekly Reports - 06/26/18

Texas Intents to Drill

• Endeavor has been recompleting old vertical wells in Midland county. Although the focus has been on the performance of their horizontal wells in the Permian, more than half of Endeavor’s filed permits are actually for recompleting old vertical wells.

• RSP Permian, recently acquired by Concho, has split its activity between the Midland and Delaware Basins, targeting the Spraberry Trend and Wolfcamp formations.

Texas Frac Jobs

• XTO has varied its frac design in the Permian throughout 2018. For example, when looking at XTO’s two most active counties, Midland and Andrews, we noticed stark differences in the frac design.

• XTO’s fracs in Andrews never included acid and averaged more than 700 pounds of proppant on a per foot basis. In Midland, however, frac jobs always included acid and averaged more than 1,700 pounds of proppant on a per foot basis. Which frac design is better?