Why Oklahoma’s Anadarko Basin?
Historically Oklahoma Is a Top Producing State
Did you know Oklahoma is the 3rd most historically producing state in the United States - period?
Normalizing to production by land area, did you know Oklahoma ranks #1 in most barrels of oil equivalent produced (6:1) per acre?
Today, Oklahoma Well Results Are hard to beat
Oklahoma is home to more than 435 horizontal wells which have produced more than 2,000 barrels of oil equivalent per day (boe/d) from SIX different formations (Woodford, Meramec, Sycamore, Hoxbar, Springer, and Osage)? These world-class wells boast >50% IRR in a sub-$50 oil price environment, making the Anadarko basin one of the most prolific basins in the United States.
While our wells rival that of the Permian, our completion and production designs are still in their adolescent years. Devon Energy's record Privott 17-20-16N-9W 1HX well in Blaine County, OK at 6,000 Boe/d (50% oil cut) is but one example of what we might be able to expect with better completion designs.
Additional Information on the SCOOP & the STACK
First and foremost, let us be clear - the “SCOOP” and “STACK” are silly acronyms which have hurt the marketability of oil and gas in the state of Oklahoma. You need only look to the “Permian Basin” which is really the combination of the Delaware Basin and the Midland Basin and many many more sub-plays. Permian operators don’t create monikers like we have in Oklahoma and it has helped them, but I digress.
The SCOOP was first coined by Continental Resources (NSYE:CLR) in 2013, standing for "South Central Oklahoma Oil Province." Since, it's become one of the most prolific plays in the United States and was awarded Oil & Gas Investor's Best Discovery in 2015. While this play has been overshadowed by the STACK play in recent years, Gulfport Energy's (NYSE:GPOR) unexpected 2016 entry into the SCOOP (through acquisition of Vitruvian Exploration II) for more than $28,000 per net acre demonstrates just how exciting the SCOOP still is.
Top 12 SCOOP Producers:
Newfield Exploration announced it's "STACK" play shortly after Continental announced the SCOOP play in early 2013; STACK standing for "Sooner Trend Anadarko basin, Canadian and Kingfisher Counties." This play has quickly emerged as one of the top plays in the United States, highlighted by Devon Energy's (NYSE:DVN) 2015 acquisition of Felix Energy for roughly $23,750 per net acre.