OKLAHOMA CITY — There’s been some home runs with monster oil wells coming online, but development in Oklahoma’s STACK formation is still very much in the first inning, executives said Thursday at the DUG MidContinent conference in Oklahoma City.
That baseball metaphor was referenced by several presenters as companies outlined their plans for continued development of the STACK, broadly defined as six counties west and northwest of Oklahoma City.
Newfield drilled is first STACK horizontal well in 2012. The company now gets two-thirds of its production and spends 80 percent of its capital in Oklahoma’s Anadarko Basin, which includes its holdings in the STACK. Newfield has grown its STACK acreage to 350,000 net acres.
SOURCE Tulsa World
Compiled and Published by GIB KNIGHT
Gib Knight is a private oil and gas investor and consultant, providing clients advanced analytics and building innovative visual business intelligence solutions to visualize the results, across a broad spectrum of regulatory filings and production data in Oklahoma and Texas. He is the founder of OklahomaMinerals.com, an online resource designed for mineral owners in Oklahoma.