Midland County is slowly emerging as the possible location for the Permian Basin’s last stand as record low oil prices continue to take their toll on drilling permit filings.
During the first week of April, some 40 companies filed a weekly low of 110 drilling permit applications with the Railroad Commission of Texas. Nearly one-fifth of those permits were for projects in Midland County.
Fort Worth oil company Double Eagle Development led the pack with 10 drilling permits for horizontal wells targeting the Spraberry formation.
Austin oil company Parsley Energy also plans to target the Spraberry with three horizontal wells in Midland County while Houston pipeline operator Solaris Midstream is targeting the same formation to develop a new saltwater disposal well.
Midland oil company Concho Resources