Reese Energy Consulting today is studying last week’s first-phase report from IHS Markit, a data and analysis firm, that estimates the Anadarko Basin has only just begun to reveal its oil and gas riches. According to the report, more than 16 billion barrels of oil and 200+ TCF of natural gas lie beneath the surface here that are ripe for drilling and production. In the STACK alone, analysts suggest only about 20 percent of “sweet spot” locations have been drilled to date and an additional 4,000 to 5,000 horizontal wells there easily could be on the horizon. The IHS Market report identifies 41 stacked plays in the Anadarko where unrisked resources likely could be found. The next phase of the report will involve three-dimensional modeling and interpretation of those 41 plays. Not surprisingly, the race is on to snatch up mineral rights in what some have compared to “a new kind of Oklahoma land rush.” What do you think?
Posted on January 16, 2019