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SPE.org 

Noble’s first row of wells in its massive Mustang project is helping increase the operator’s DJ Basin output, and similar results are soon expected in the Delaware Basin. Production and proved reserves in the Permian Basin’s Wolfcamp Shale and Bone Spring Formation are reaching new heights, and a new assessment from the US Geological Survey indicates the industry is just scratching the subsurface when it comes to what may be technically recoverable. The SPE Liquids-Rich Basin Conference in Midland, Texas, merged topics that have dominated recent industry discussions: technologies centered on big data, interwell communication, and Permian Basin production. WPX Energy COO Clay Gaspar discusses his company’s timely transformation into a Permian player and the challenges that lie ahead in the basin. The Irving, Texas-based supermajor plans to cash in on its expanded foothold in the Permian Basin, aided by a big reduction in the US corporate tax rate.