Introduction to the Permian Basin — Part 3: Major players
Continued from Part 2: Geography of the Permian Basin
Major players’ current activity
Summarized below is the current activity of some of the major players in the Permian Basin region.
Concho Resources (CXO)
Net Permian Acreage: 630,000 net acres
Proved Reserves in the Permian Basin: 447 million barrels of oil equivalent at YE2012
Number of Rigs Running in the Permian Basin: 30 rigs (note that the rigs displayed in the graphic below represent all rig activity, not only CXO’s)
2013 Permian Capex: $1.6 billion
Source: June 2013 Company Presentation
Pioneer Natural Resources (PXD)
Net Permian Acreage: ~900,000 net acres
Proved Reserves in the Permian Basin : ~627 million barrels of oil equivalent at YE2012
Number of Rigs Running in the Permian Basin: 27 rigs (12 horizontal and 15 vertical)
2013 Permian Capex: ~$1.65 billion
Source : June 2013 Company Presentation and 4Q12 Earnings Release
Laredo Petroleum (LPI)
Net Permian Acreage: 200,600 net acres
Proved Reserves in the Permian Basin: ~168 million barrels of oil equivalent at YE2012
Number of Rigs Running in the Permian: six horizontal (starting 2H13, up from four horizontal in 1H13), five vertical
2013 Permian Capex: ~$620 million
Source: June 2013 Company Presentation
More about the Permian Basin
Learn more about the Permian Basin and its economic significance in Part 4: Major players (continued), which will follow tomorrow.
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