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Doug Pethoud - Early Entry into NW STACK

Mid-Continent Playmaker Forum | 2017 Oklahoma City

Mid-Continent Playmaker Forum | 2017 Oklahoma City

Summary

Early Entry into NW STACK. A Playmaker Forum talk given by Doug Pethoud in Oklahoma City, Oklahoma on 11 May, 2017.

In 2007, Maverick Brothers Resources began evaluating the Mississippian Osage as a possible resource play, inspired by the reservoir performance of vertical wells it operated in northeast Dewey County. Maverick spud its first horizontal well in May of 2010, the Catherine 1-23H to test whether it was even possible to effectively drill and frac’ the layered 80% chert-20% lime sequence at depths exceeding 10,000 ft. That successful pilot encouraged Maverick to continue forward with the drilling of four additional horizontals and a SWD well over a 15 month period and assembling a 32 section contiguous acreage position. Maverick engaged a private equity partner in 2013 to assist in the development of its expanding acreage position and went on to drill an additional 3 wells in 11 months. In late 2014, after receiving offers to purchase its position, Maverick began actively marketing its Fonda Prospect and closed on the sale in 2015. This presentation will discuss the efforts employed by a small, but dedicated team in moving a project from concept to sale with limited modern data or analogs.

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