#1 Oil & Gas Opportunity in 2022 - Wolfcamp Permian Basin Texas Projects.

First western Oil has multiple projects in the Permian basin for 2022. Growing annual oil output of 4 million barrels a day in the Permian basin. First Western Oil, Industry partners are looking forward to a great year, oil prices are up, our oil and gas leases are all infield oil and gas projects. Wells in this lease area of the Permian basin coming online produce, an average between 600 BOPD to 900 BOPD. 

Permian Basin Oil Boom

The Permian Basin has experienced multiple booms and downturns throughout its history.  The first well drilled in the Spraberry Trend in West Texas is believed to have triggered the Permian Basin oil boom of the 1950s, however this target was not ready to be fully exploited until the advent of horizontal drilling.The venerable basin had a massive resurgence in 2011 with the widescale use of new horizontal drilling and hydraulic fracturing techniques that unlocked the Permian Basin’s massive production potential.  These drilling and completion techniques now enable wells to be guided horizontally at deeper depths along producing reservoirs, or pay zones, using directional drilling and enable previously unrecoverable oil to be extracted from tight shale formations.The latest Permian Basin oil boom was the epicenter of the Shale Revolution, which triggered unconventional drilling across US shale plays.

What is Stacked Pay?

Arguably the Permian Basin’s defining characteristic is its stacked pay. While this quality is not exclusive to the Permian, its magnitude of stacked pay is considerably greater than what is seen in most other unconventional plays in North American. To provide context, the thickness of the hydrocarbon column being currently developed is over 2,000 feet in the Midland and Delaware basins, compared to 300 feet and 500 feet in the Williston Basin in North Dakota and Eagle Ford trend in South Texas.

In essence, the term stacked pay refers to the number of commercially viable landing zones that are available on a single surface location.While the resource potential of the Permian Basin’s stacked pay is undeniable, development of this resource is challenging in practice as flow barriers between zones are not always present. As many operators have prioritized development of their most productive landing zones, sub-optimal resource recovery of the commercial hydrocarbon column is observed throughout the basin due to parent-child well dynamics.

The permian basin is an energy powerhouse

The Permian Basin is a shale basin about 250 miles wide and 300 miles long, spanning parts of west Texas and southeastern New Mexico. It includes the highly-prolific Delaware and Midland sub-basins.

For further info information regarding an investment with First Western Oil, send us a message and our operations director will contact you, provide to you with info on our 2022 Permian Basin projects.