A number of big players in the Permian Basin have reduced their capital spending plans for 2015 including Apache Corp. (APA), Cimarex Energy Co. (XEC), Concho Resources Inc. (CXO), ConocoPhillips (COP), Devon Energy Corp. (DVN), EOG Resources Inc. (EOG), Occidental Petroleum Corp. (OXY) and Royal Dutch Shell Plc (RDS.A). Despite these cuts, many operators expect production to increase as the focus shifts to development drilling and efficiencies.

According to IHS, some smaller deals took place in early 2015, including the recent acquisition of Harvey E. Yates Co. by Matador Resources Co. (MTDR). Matador paid $37.4 million in cash and $3.1 million in stock for 58,600 gross (18,200 net) acres in the New Mexico Delaware Basin of Lea and Eddy counties. Over 95% of the land consists of state and federal leases and essentially all of the acreage is held by production. Reserves associated with the assets were 1.3 million barrels of oil equivalent (boe) as of September 2014, with production averaging 530 boe/d (70% oil). Harvey E. Yates was a subsidiary of HEYCO Energy Group.

Parsley Energy Inc. (PE) recently purchased 8,450 net acres primarily in northwestern Reagan County (RRC Dist. 7C). The company paid an unnamed seller $139 million for the assets, which added 199 net horizontal locations and 410 net vertical locations to Parsley’s drilling inventory.

1. Endeavor Energy Resources LP - 06/08/15

Endeavor Energy Resources completed a horizontal Wolfcamp well in Winkler County (RRC Dist. 8), Texas. The #1H Paul 24 was tested pumping 501 barrels (bbl) of 36.9-degree-gravity oil, 631 thousand cubic feet (Mcf) of gas and 2.02 Mbbl of water per day from perforations at 12,420-16,728 feet. The Phantom Field well was drilled to 16,845 feet. It is on a 639.6-acre Delaware Basin lease in Section 24, Block 28, PSL Survey, A-1376 and bottomed one mile to the southeast in the same section. Endeavor’s headquarters are in Midland, Texas.

2. Cimarex Energy Co. - 06/05/15

Two offsetting horizontal Delaware Basin-Wolfcamp gas completions in Culberson County (RRC Dist. 8), Texas were announced by Cimarex Energy. The #1H Whiskery 40 Unit flowed 1.416 MMcf of gas, 420 bbl of 51.6-degree-gravity condensate and 1.1 Mbbl of water daily through fracture-treated perforations at 9,877-17,005 feet. Tested on a 24/64-in. choke, the flowing tubing pressure was 1,565 pounds per square inch (psi) and the shut-in tubing pressure was 3,741 psi. The Ford West Field well was drilled to 17,117 feet, 9,065-foot true vertical, in Section 40, Block 59, T2S, T&P RR Co Survey, A-5087. It bottomed to the south in Section 45. The #1H Sunny’s Halo 40 produced 1.351 MMcf of gas, 400 bbl of 52.8 degree-gravity condensate and 1.2 Mbbl of water per day from an unreported Wolfcamp zone. It was tested on a 24/64-inch choke with a flowing tubing pressure of 1,715 psi and a shut-in tubing pressure of 3,515 psi. The venture was drilled to 15,803 feet, 9,085-foot true vertical and the lateral bottomed to the north in Section 33.

3. Anadarko Petroleum Corp - 05/27/15

An Anadarko Petroleum (APC) horizontal Phantom Field-Wolfcamp well was announced in Loving County (RRC Dist. 8), Texas. The #1H Bohlander 33-95 produced 1.071 Mbbl of 48-degreee-gravity oil, 4.902 MMcf of gas and 3.86 Mbbl of water per day from fractured Wolfcamp perforations at 11,592-18,674 feet. The well was tested on a 35/64-inch choke and the flowing tubing pressure was 2,920 psi and the shut-in casing pressure was 3,410 psi. It is on a 640-acre Delaware Basin lease in Section 95, Block 33, H&TC RR Co Survey, A-15. The 18,846-foot well has a true vertical depth of 11,078 feet with a 1.5-mile southwest-trending lateral. Anadarko’s headquarters are in Houston.

4. Mewbourne Oil Co. - 05/26/15

In Loving County (RRC Dist. 8), Texas, Mewbourne Oil Co. has completed a horizontal Wolfcamp producer in the Delaware Basin. The #37 W101MD TXL is in Ford West Field and was drilled to 13,190 feet with a true vertical depth of 10,827. It produced 245 bbl of 48.4-degree-gravity oil, 250 Mcf of gas and 1.85 Mbbl of water per day from acid- and fracture-treated perforations at 11,155-15,560 feet. Gauged on a 16/64-inch choke, the flowing casing pressure was 3,000 psi. The well is in Section 37, Block 56, T1S, T&P RR Co, A-158 and bottomed to the north. To the south, the Tyler, Texas-based company is waiting on completion tools at the offsetting #48 W101DM TXL. The venture was drilled to 15,460 feet, 10,833-foot true vertical, and is in Section 48, Block 56, T1S, T&P RR Co, A-1316.

5. BHP Billiton Ltd. - 05/21/15

A horizontal Wolfcamp completion was announced by Melbourne, Australia-based BHP Billiton (BHP) in Reeves County (RRC Dist. 8), Texas. The #1H State Roberta Regan 57-T2-36 flowed 3.563 MMcf of gas, 1.07 Mbbl of condensate and 3.48 Mbbl of water per day. Production is from fracture treated perforations at 10,200-15,011 feet. Gauged on a 48/64-inch choke, the flowing casing pressure was 1,513 psi and the shut-in casing pressure was 2,027 psi The Phantom Field well is in Section 37, Block 57, T2S, T&P RR Co, A-636. It was drilled to 15,157 feet with a true vertical depth of 10,080 feet and bottomed about one mile to the north in Section 36.

6. Cimarex Energy Co. - 05/20/15

Denver-based Cimarex Energy completed a high-volume, extended-lateral horizontal Wolfcamp well in the Culberson County (RRC Dist. 8), Texas, portion of Ford West Field. The #2H Apollo 48 Unit produced 7.824 MMcf of gas, 700 bbl of 58.2-degree-gravity condensate and 1.7 Mbbl of water per day from perforations at 10,036-18,285 feet. It was tested on a 1-inch choke with a flowing tubing pressure of 1,115 psi and a flowing casing pressure of 3,465 psi. The 18,638-foot well has a true vertical depth of 10,177 feet and is in Section 48, Block 59, T1S, T&P RR Co Survey, A-2294. The lateral bottomed almost two miles to the south beneath Section 1, Block 59, T2S, T&P Survey, A-2710.

7. Bopco LP - 05/19/15

Bopco LP completed a Bone Spring well in the Eddy County, N.M., portion of the Delaware Basin. The #277H Big Eddy Unit DI28 pumped 827 bbl of oil, 1 MMcf of gas and 895 bbl of water per day. Production is from acid- and fracture-treated perforations at 10,375-23,826 feet. The extended-lateral well was drilled to 23,889 feet and is in Section 15-21s-29e. The lateral bottomed to the east-southeast beneath Section 13. True vertical depth is 9,143 feet. Bopco’s headquarters are in Midland, Texas.