After keeping mum on activity in its Sweetie Peck area, SM Energy is spilling the beans on its work on the development at the intersection of Midland, Upton and Crane counties.
During its second quarter earnings call, SM President and Chief Executive Officer Herb Vogel told analysts the company has confirmed bringing online two Woodford-Barnett wells during the quarter. One, a 10,200-foot lateral test, had a 30-day peak initial potential of 1,622 barrels of oil equivalent per day while the second, a 5,900-foot lateral, had a 30-day initial potential peak of 830 BOE per day.
“We are very pleased with early results and the potential to add more than 20,000 prospective net acres in this deeper formation,” Vogel said during the call. He said the two wells, together with offset operator wells, indicate more than 20,000 net acres at Sweetie Peck that are prospective for Woodford-Barnett development — inclusive of previously announced acreage additions to the west.
“We have been tight-lipped about our activity in the greater Sweetie Peck area for some time as we added acreage,” he told analysts, but with the production data now public, he said the company was pleased to report the data. Initial results compare favorably to peers in the area, he said.
In the Midland Basin, SM plans 72 wells drilled and 71 completions. The expected average lateral length is about 11,760 feet, including 32 wells with 15,000-foot average lateral length. SM plans to run four rigs and two completion crews.
