Wildcatter billionaire not giving up Permian Basin without a fight

The drilling permits speak for themselves.

Wildcatter billionaire Autry Stephens is not ceding control of the Permian Basin to the oil majors without a fight.

Wildcatter billionaire not giving up Permian Basin without a fight - oil and gas 360 — Photo: Brittany Sowacke / Bloomberg

Over the past week, the Midland billionaire’s oil company Endeavor Energy Resources filed for 21 drilling permits with the Railroad Commission of Texas, the state agency that regulates the oil and natural gas industry. A large and independent oil company, Endeavor is seeking permission to drill 11 horizontal wells on its Kraken leases in Howard County and another six split between a pair of leases on its Carbon and Kennett leases in Upton County.

Drilling to total depths up to 12,000 feet, the wells target the oil-rich Spraberry field of the Midland Basin, a heavily-drilled subregion of the Permian Basin.

Endeavor’s push comes when the company is competing against other big Permian Basin players such as Exxon Mobil, EOG Resources, Shell, Occidental Petroleum and Chevron for dominance in the region. So far this year, Endeavor has filed for 272 drilling permits — all of them in the Permian Basin.

Top 10 Texas Drillers

(Wednesday, Oct. 30 through Tuesday, Nov. 5)

Endeavor Energy Resources

Shell

Diamondback Energy

ConocoPhillips

Occidental Petroleum

Chesapeake Energy

Kinder Morgan

Crownquest Operating

Apache Corporation

EOG Resources

Source: Railroad Commission of Texas

Permian Basin

Houston oil and natural gas company Apache Corp. continues to shift away from its Alpine High discovery in the western end of the Permian Basin. Over the past week, the company filed for six drilling permits targeting the Spraberry field on six leases in Reagan County, on the eastern side of the oil field. The wells reach a total depth of 10,000 feet.

Eagle Ford Shale

Houston oil and natural gas company SilverBow Resources is preparing to drill six horizontal wells in the dry gas window of Webb County. The wells each target the natural gas-rich Hawkville field of the Eagle Ford geological layer to a total depth of 11,000 feet.

Haynesville

Longview oil and natural gas company R. Lacy Services filed a drilling permit for a horizontal well on its Longino lease in Panola County, where it plans to target the natural gas-rich Carthage field of the Haynesville geological layer to a total depth of 12,000 feet.

Barnett

Houston exploration and production company Lime Rock Resources is one of the last remaining horizontal drillers in North Texas. The company filed for drilling permits to develop a pair of horizontal wells on its Blake-Allison lease in Cooke County. The wells target the natural gas-rich Newark East field of the Barnett Shale to a total depth of 8,800 feet.

Conventionals

Spring oil and natural gas company Smith Production Inc. plans to drill a vertical well targeting the Zwebb and Wildcat fields on its BMT/K&H E lease in Webb County down to a depth of 11,800 feet