Permian operator notes completions, 3D data for positive 2018

By Luke Geiver | May 15, 2018

Jagged Peak Energy was 13 percent more efficient across its operations during the first quarter when compared to the previous quarter. Combined with the operational enhancements and an acreage position that allows the Denver-based exploration and production company to drill longer laterals, the Jagged Peak team believes Q1 2018 has been its best to date.

On completions, Jagged Peak is now averaging 2.6 stages per crew per day since the end of 2017. Currently, the company is averaging 3.1 stages per crew per day. Average lateral lengths for the company’s Delaware Basin wells are reaching 9,300 feet.

In addition to completion operation improvements, the company has also found success in acquiring more data on its wells and acreage. Through a licensing agreement with a 3D seismic company, Jagged Peak has acquired data that have helped in placing laterals. The company continues to add to is understanding of the reservoir system by collecting additional core, reservoir fluid and pressure data, it said, “in order to validate and further refine the subsurface model,” adding that, “together, these efforts are leading to an integrated understanding of optimal reservoir development that will lead to more efficient use of capital.”

For the full-year, Jagged Peak still expects to spend $560 million to $615 million with up to $590 million slotted for drilling and completion costs. Roughly $10 million will be spent on 3D seismic. Another $25 million is scheduled for water infrastructure.