File photo
File photo
Hunt Oil Co. is seeking to start its latest big drilling project in the Permian Basin.
The Dallas oil company acquired seven drilling permits with the Railroad Commission of Texas over the first week in February 2020. The stretch is located in Glasscock County. Hunt would tap into the Spraberry Field through a well that reaches depths of 7,800 to 9,000 feet.
Hunt Oil filed for 80 drilling permits in 2019. Those, with one exception, were for wells in the Permian Basin. The oil giant discovered and produced over 11.5 million barrels of crude oil and 31.2 billion cubic feet of natural gas last year.
Hunt Oil isn't the only exploration firm seeking space in the Permian Basin. Last November, Royal Dutch Shell acquired six drilling permits from the Railroad Commission of Texas for projects split between Winkler and Loving counties. Half of those wells target the Wolfcamp geological layer and can reach depths that range from 10,000 to 12,300 feet. Those are drastically deeper than the ones acquired by Hunt Oil in Glasscock County.
Around the same time, Chevron acquired 25 drilling permits. The five wells it plans in Ward County target the Wolfcamp Geological Layer. The other 20 wells are in Midland County's Spraberry Formation. These require a depth of 9,500 to 10,000 feet.
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