BC Operating Inc. and Nadel and Gussman LLC combined their acreage and reserves in New Mexico through a joint development agreement, BC said Nov. 30. Combined, the position is about 50,000 net acres and 5,500 barrels of oil equivalent per day of operated production in southern Eddy and Lea counties.
BC will assume operatorship of the combined acreage including all existing wells. The large-scale position has multiple targets in the Permian Basin including Wolfcamp, Avalon, Delaware and Bone Spring production. BC expects to run at least one drilling rig in 2016 and will add more acreage.
Mike Black, president of BC Operating, says the company has operated for more than 30 years in the Permian.
BC Operating Inc. is based in Midland, Texas, and Nadel and Gussman LLC is based in Tulsa, Okla.
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