WildHorse Resource Development (ticker: WRD) oversees operations primarily in the Eagle Ford Shale and Cotton Valley formations in East Texas and North Louisiana, respectively.
The company expects that it will produce between 27 and 31 MBOEPD in 2017—a significant jump in production from an average 17.6 MBOEPD in Q1, 2017.
WildHorse’s Eagle Ford asset
In the Eagle Ford play, WildHorse holds approximately 385,000 net acres—making it the second largest acreage holder in the region. A significant portion of the company’s Eagle Ford acreage was added in mid-May, 2017, when WildHorse entered in an agreement with Anadarko Petroleum Corporation to acquire 111,000 net acres for $625 million.
Source: WildHorse Resource Development
The company’s Eagle Ford acreage boasts a proved reserves value of 127.6 MMBOE, of which approximately 92% is liquids. Q1, 2017 Eagle Ford production averaged 19.1 MBOEPD. WildHorse’s Eagle Ford acreage holds 2,651 net drilling locations, which the company estimates to be a 20 year inventory.
In pursuing additional acreage in the Eagle Ford, WildHorse has compared the average price per acre and price per net drilling location. Its Eagle Ford acquisitions have averaged $420,000 per net location and $2,103 per acre, compared to the Permian basin which averaged approximately $1,750,000 per net location and $27,000 per acre, the company said.
Activity in North Louisiana
WildHorse’s Northern Louisiana play, split between four areas—the RCT Field, Weyerhaeuser, Bear Creek, and Athens—averaged 36.3 MMcfe per day in Q1, 2017. The company said it has drilled 13 operated horizontal wells to date, in addition to 55 existing wells.
The company estimates it has 648 net drilling locations in the Northern Louisiana play and it is currently operating two rigs in the area. WildHorse drilled three wells on the north, east and west sides of its Vernon field in the area, all of which indicated the presence of natural gas in the Upper and Lower Red intervals, increasing the step-out potential for the play.
Source: WildHorse Resource Development
WildHorse Resource Development Corporation is presenting at EnerCom’s The Oil & Gas Conference® 22
WildHorse will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.
The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors. The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.
Source: WildHorse Resource Development
