American Oil and Gas Reporter - May 2019 - 73
STACK And SCOOP Push
Mid-Continent Energy
To New Heights
By Al Pickett
Special Correspondent
At 40,000 feet thick in its deepest portion, the Anadarko Basin in western
Oklahoma presents one of the premier shale targets in North America.
Newfield Exploration Co. opened the STACK (Sooner Trend Anadarko
Canadian Kingfisher) play in 2013, shortly after Continental Resources
Inc. announced its SCOOP (South Central Oklahoma Oil Province) discovery
well in October 2012. Those two discoveries led to horizontal drilling and
remarkable growth in Oklahoma oil production and reserves.
In fact, the U.S. Energy Information Administration estimates Oklahoma's
recoverable resource base had grown to 1.917 billion barrels by year-end
2017, more than double what it was only five years earlier, prior to the
discovery of SCOOP and STACK.
Now, an acquisition that brings with it a new completion strategy for the
STACK and an aggressive new project in the SCOOP appears certain to
make those numbers increase even more. Encana Corporation finalized
its acquisition of Newfield in February. Steve Campbell, who previously
served as senior vice president of Newfield, has changed companies, but
not jobs, taking over as senior vice president of investor relations and
communications for Encana.
"The company got a lot bigger," he remarks. "We are close to being a
600,000 barrel-a-day company. We are by far the largest oil producer in
Oklahoma." The acquisition of Newfield means Encana now has 365,000
acres in the Anadarko Basin, about 265,000 of which are in the STACK and
another 90,000 acres are in the SCOOP.
Newfield's average production during fourth quarter 2018 was more
than 200,000 barrels of oil equivalent a day, including more than 125,000
bbl/d of liquids. On a pro forma basis, Encana's and Newfield's combined
2018 production would have averaged more than 555,000 boe/d, including
approximately 290,000 bbl/d of liquids.
MAY 2019 73
American Oil and Gas Reporter - May 2019
Table of Contents for the Digital Edition of American Oil and Gas Reporter - May 2019
Contents
American Oil and Gas Reporter - May 2019 - Intro
American Oil and Gas Reporter - May 2019 - 1
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American Oil and Gas Reporter - May 2019 - Contents
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