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December 7, 2021

Permian Basin Unconventional (Centennial Resource Development, Inc.) TX Unconventional Oil Field, US

By Carmen

Permian Basin Unconventional (Centennial Resource Development, Inc.) TX is a producing unconventional oil field located onshore the US and is operated by Centennial Resource Development.

Field participation details

The field is owned by Centennial Resource Development.


Production from Permian Basin Unconventional (Centennial Resource Development, Inc.) TX

The Permian Basin Unconventional (Centennial Resource Development, Inc.) TX unconventional oil field recovered 30.10% of its total recoverable reserves, with peak production in 2019. The peak production was approximately 46.56 thousand bpd of crude oil and condensate, 139 Mmcfd of natural gas and 15.64 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2047.


Remaining recoverable reserves

The field is expected to recover 254.7 Mmboe, comprised of 134.5 Mmbbl of crude oil & condensate, 426.78 bcf of natural gas reserves and 49.07 Mmbbl of natural gas liquid reserves. Permian Basin Unconventional (Centennial Resource Development, Inc.) TX unconventional oil field reserves accounts 0.28% of total remaining reserves of producing unconventional oil fields globally.


About Centennial Resource Development

Centennial Resource Development Inc (CRD) is an oil and natural gas company. It focuses on the development of unconventional oil and associated liquids-rich natural gas reserves. The company has assets in the Delaware Basin, a sub-basin of the Permian Basin. In addition, CRD’s properties consist of acreage blocks primarily in Reeves County in West Texas and Lea County in New Mexico. It is formed through the business combination of Centennial Resource Production, LLC and Silver Run Acquisition Corporation. CRD is headquartered in Denver, Colorado, the US.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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