Permian Oil and Gas

Whiting Petroleum Updates Operations At Big Tex Project - Q3 2012

Whiting Petroleum (NYSE:WLL) has 91,258 net acres under lease at the Big Tex prospect in Pecos County, Texas, and has two wells waiting on completion at this project area.

Whiting Petroleum made the following comments on its Permian Basin development program during the third quarter of 2012 earnings conference call:

“Let's start with our Big Tex prospect. Two horizontal Wolfcamp wells are currently waiting on completion. As you can see on this map, one of these wells, the May 2502H, offsets the May 2501, which is a vertical Wolfcamp well that was completed in the month of May of 2012, flowing over 320 BOE per day from the upper Wolfcamp formation. The results of the May 2502H will provide us with a good gauge of the uptick we get from horizontal wells in this area.”

Whiting Petroleum To Focus On Bone Spring Play

Whiting Petroleum (WLL) has 120,719 gross or 89,820 net acres at the Big Tex prospect in the Permian Basin.  The company is targeting various formations including the Brushy Canyon, Bone Spring, and Wolfcamp plays.

Whiting Petroleum plans to spend $57 million here in 2012 and drill 13 wells on its properties, with most of the wells horizontal targeting the Bone Spring play.  The company will also begin a vertical Wolfbone development program that will produce from the Wolfcamp and Bone Spring plays.

Whiting Petroleum Completes Bone Spring Wells In Permian Basin

Whiting Petroleum (WLL) has an active development program in the Permian Basin and disclosed an update on recent operations here.  The company is working on the Wolfbone play on its properties, which include the Brushy Canyon, Bone Spring, and Wolfcamp zones.

Whiting Petroleum is active in the Big Tex area and has drilled and completed the Bissett 9701H well into the Bone Spring formation.  The Bissett 9701H was drilled with a 3,645 foot lateral and eighteen hydraulic fracturing stages, and produced an average of 336 barrels of oil equivalent (BOE) per day during the first thirty days.

Whiting Petroleum has also completed fracturing operations on the Chilton 5601H drilled into the Bone Spring and the Lizzy 402H well drilled into the Brushy Canyon formation.  The company is waiting for results on these two wells.