HOUSTON—The Permian Basin’s Wolfcamp, Bone Spring and Spraberry formations are known for being top areas for horizontal drilling.
But there is another top formation that Michael Party, owner and president of Midland, Texas-based Beryl Oil and Gas, believes is overlooked for horizontals—the San Andres/Grayburg. With most operators already locked into their positions—now just swapping acreage amongst themselves or consolidating, the San Andres is among the formations left where $20,000 an acre isn’t needed for entry, he said.
“It is developed. … There are some really good results in places,” Party told attendees of Summer NAPE’s Business Conference on Aug. 21.