Whiting Petroleum (WLL) reported progress on the development of the company’s properties in the Permian Basin. The company is active at the Big Tex prospect located in the Delaware Basin in Pecos County, Texas.
Whiting Petroleum completed hydraulic fracturing operations on the Bissett 9701 well in early July 2011. The company said that the Bissett 9701 well produced 788 barrels of oil equivalent (BOE) per day from the Wolfbone formation.
This Permian Basin well is still flowing back fracturing fluid, and 92% of production was crude oil. The well was drilled with a 3,610 foot lateral and completed with a sixteen stage hydraulic fracturing operation.
Whiting Petroleum has 88,062 net acres at Big Tex prospect area, which also runs into Ward County, Texas. The company’s average cost at this prospect is $540 per net acre.