The Wolfcamp shale play has been a top driver of growing oil and gas production in West Texas’ booming Permian Basin oil field, according to the Energy Department.
Drilling and completion operations within the Wolfcamp play have been responsible for much of the crude oil and natural gas production growth in the Permian Basin since 2007, the Energy Information Administration reports.
U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30 a barrel.
The number of producing wells in the Wolfcamp increased from 2,200 in 2005, to 7,750 in mid-2018. Average initial daily crude oil production per well for the first six months of operation grew from 37 Bpd, to 515 Bpd, and average natural gas production per well for the first six months of operation grew from 0.1 million cubic feet per day (MMcf/d), to 2.0 MMcf/d during the same period.
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