Matador Resources reports drilling progress in Wolfcamp shale


Matador Resources reports drilling progress in Wolfcamp shale

DALLAS -- Matador Resources, an independent engaged in shale and unconventional exploration, development, production and acquisition, has announced flowrates from its first horizontal well in Loving County, Texas. The company is currently focused on its Eagle Ford operations in South Texas, and its Permian basin operations in southeastern New Mexico and West Texas.

Completed in the top portion of the Wolfcamp formation, the Wolfcamp A, the Dorothy White #1H well flowed 1,355 boed, including 902 bopd and 2.7 MMcfgd (67% oil), at 3,711 psi on a 22/64-in. choke during a 24-hr initial potential test. The well hit a vertical depth of approximately 10,700 ft, which is a highly geo-pressured interval having an estimated bottomhole pressure gradient of 0.8 psi/ft, implying a reservoir pressure of approximately 8,500 psi. Matador drilled and completed a 5,000-ft horizontal lateral in the Wolfcamp A, and completed the well with 20 frac stages, including approximately 200,000 bbl of fluid and 9.8 million lb of sand.

The Dorothy White #1H well has not yet been on production for a full 30 days, but, in recent weeks, the well flowed at an average of 1,043 boed, including 693 bopd and 2.1 MMcfgd at approximately 3,600 psi, mostly on smaller chokes of 18/64-in. to 20/64-in.

Matador reported on the performance of its first horizontal well in Lea County, New Mexico: the Ranger 33 State Com #1H. The well is a 4,300-ft horizontal lateral drilled and completed in the Second Bone Spring sand, with 18 frac stages, including 165,000 bbl of fluid and 7.5 million lb of sand. The well was placed on production at the end of October, and produced approximately 15,000 bbl of oil in December, despite being shut in for several days, while tubing and gas lift valves were installed. In January, the well produced 15,400 bbl of oil, despite being shut in for two days due to weather. During January, the well averaged 583 boed, including 531 bopd and 313 Mcfgd (91% oil). In only about three months on production, including its initial cleanup phase, the well has already produced over 48,000 boe, including approximately 44,000 bbl of oil, and continues to flow with gas lift assist.

The company also recently completed drilling the Rustler Breaks 12-24-27 #1H well, its first horizontal well in Eddy County, Texas. This well is a 4,500-ft horizontal lateral testing the Wolfcamp B formation, at an approximately 9,800-ft vertical depth. Matador is currently completing the well with a 19-stage hydraulic fracture treatment, including 180,000 bbl of fluid and 8.5 million lb of sand. Wolfcamp B is also an over-pressured reservoir, like Wolfcamp A.

Matador is currently drilling the Pickard 20-18-34 #2H well, which is planned to be a Wolfcamp D test in the northern portion of its Ranger/Querecho Plains prospect area, in Lea County, New Mexico. The company plans to drill 12 gross (9.8 net) wells across its various acreage positions in the Permian basin in 2014.

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