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The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico, famous for holding large oil fields and for a fossilized reef exposed at the surface. Guadalupe Mountains National Park and Carlsbad Caverns National Park protect part of the basin.
The Permian Basin comprises several component basins, including the Midland Basin, which is the largest; Delaware Basin, the second largest; and Marfa Basin, the smallest. The Permian Basin covers more than 86,000 square miles (220,000 km 2 ), [ 1 ] and extends across an area approximately 250 miles (400 km) wide and 300 miles (480 km) long.
In 2006, the company acquired assets from Chase Oil and formed Concho Resources Inc. In 2007, the company became a public company via an initial public offering. [2] In 2008, the company acquired Henry Petroleum for $584 million. [3] In 2010, the company acquired assets in the Permian Basin from Marbob Energy Corporation for $1.65 billion. [4]
The sale included all of Pioneer Resources assets in the Delaware Basin as it sought to focus on the eastern Midland Basin in Texas. Pioneer Resources exits Delaware Basin, New Mexico in $3.25B ...
UpCurve Energy currently operates a leasehold position of 12,000 net acres in the core of the southern Delaware Basin, producing 12,000 boe/d.
Devon offset the decline in oil prices by producing more oil and gas (its companywide production rose 4%), thanks to the strength of its Delaware Basin position across Texas and New Mexico and its ...
The acquisition increased the company's holdings by 176,000 net acres in the Delaware Basin, 200,000 net acres in the Powder River Basin, and 138,000 net acres on the Northwest Shelf in New Mexico. [21] [22] In 2017, the company formed a joint venture with The Carlyle Group to develop oil and gas assets in Ellis County, Oklahoma. [23]
In the United States, the company had major holdings in the Delaware Basin, where it had over 580,000 gross acres, primarily in the Cline Shale; the Denver Basin, where it had more than 400,000 net acres; operating 4,600 vertical wells and 1,400 horizontal wells, and in Greater Natural Buttes, Utah, where it had approximately 2,850 wells. [1]
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