Published:
Views: 1640

Energen Moves Into the Permian Basin

Birmingham-based Energen Corp. (EGN) announced the purchase of more than 40,000 acres in West Texas from SandRidge Energy (SD) in Loving, Reeves, Ward, and Winkler counties. Energen says it has identified 62 potential drilling sites in the 3rd Bone Spring

Birmingham-based Energen Corp. (EGN) announced the purchase of more than 40,000 acres in West Texas from SandRidge Energy (SD) in Loving, Reeves, Ward, and Winkler counties. Energen says it has identified 62 potential drilling sites in the 3rd Bone Spring play. At a vertical depth of 10,500 to 11,500 feet, the typical Bone Spring well has estimated ultimate recovery of 400,000 to 500,000 barrels of oil equivalent. The company will pay $110 million plus standard closing adjustments. Energen is budgeting $7.5 million per well for drilling and completion costs.

Tagged with: , , ,
Posted in Minerals, Regional News, South, Texas

EMAIL SIGNUP

Please sign me up to receive breaking news and updates from the Land Report!

Latest Tweets

News By Region

The Land Report | 2018 America's Best Brokerages
The Land Report is proudly partnered with:
Land Leader
Hall and Hall
Bates Land Consortium
Mossy Oak Properties
United Country Real Estate
Live Water Properties
Fay Ranches Inc.
Mirr Ranch Group
californiaoutdoorproperties.com
Whitetail Properties
Western Ranches
TerraStone Land Company
Hayden Outdoors Real Estate
LandAndWildlife.com
Pacific West Great Plains Great Lakes Midwest Southwest South Northeast Pacific West Great Plains Great Lakes Midwest Southwest South Northeast