Texas Based Oil Company Spends $1 Billion on New Leases

Houston exploration and production company Oasis Petroleum is doubling down on drilling more than 20,000 acres of Permian Basin oil leases that it bought for nearly $1 billion.

Oilfield1 Shop

The company is seeking permission from the Railroad Commission of Texas to drill eight new horizontal wells on its UL Bighorn lease in Winkler County. Located on state-owned land, all eight wells target the Phanton field of the Wolfcamp geological layer down to a total depth of 12,500 feet. [read more]

Categories: News

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.