Texas Weekly O&G Report - 04/03/18
Published on April 3, 2018
XTO’s recent completions of two horizontal wells in Midland County are of interest to us. Want to find out the performance of those wells? Contact us at firstname.lastname@example.org!
Texas Intents to Drill
Concho, operating through its subsidiary COG Operating, is low on the list this week, but expect them to become a top operator in the Permian soon, after their recent acquisition of RSP Permian!
QEP is another to watch after they recently announced their intent to divest all assets outside of the Permian. Currently, they are one of the top operators in the Midland Basin with all activity in Martin County. We will watch for future activity as they transition to a Permian-play company.
Texas Transfer of Operator
Concho Resources acquisition of RSP Permian is the focus this week. With a purchase price of $9.5 bn, it is the largest transfer in many years. What will the addition of RSP’s valuable acreage in the Delaware Basin mean for Concho in the Permian?
- According to their recent presentation, Concho is poised to be the leading operator not only in the Delaware Basin, but the entire Permian Basin. We will be watching future activity to see how they take advantage of their new acreage.