The oil producer said it expects the new field—The Upper Pennsylvanian Silt (WolfPenn)—to be an oil-rich reservoir with significant volumes of gas as well.
Saudi Arabia fought a price war aimed at putting the U.S. shale industry out of business just six years ago, which ultimately failed. Now, the country has adopted the techniques developed in U.S. fields.
The approach leverages sound waves to give operators eyes inside their wellbores.
Hart Energy's exclusive rig counts measure drilling intensity. They exclude units classified as rigging up or rigging down, and also exclude rigs drilling injection wells, disposal wells or geothermal wells. They are designed to offer the most accurate picture of what is actually occurring in the field.
The success of Vaca Muerta is key for this South American nation that has failed for decades to break free of cyclical crises and is grappling with inflation above 50% and a $100-billion pile of sovereign debt.
Arkansas, Louisiana, Mississippi and Texas RRC Dist. 1, 2, 3, 4., 5, 6, inland, offshore
Kansas, Oklahoma, Texas Dist. 7B, 7C, 8, 8A, 9, 10
As of year-end 2019, Lonestar Resources said it had increased its proved reserves to a record 100.6 million barrels of oil equivalent, all of which are located in the Eagle Ford Shale.