American Oil and Gas Reporter - June 2014 - 119

By Al Pickett
Special Correspondent
The Permian Basin is a mighty busy place these days.
According to the Baker Hughes rig count for May 2, there
were 543 rigs operating in the 102,000-square-mile basin
that includes much of West Texas and the southeastern
corner of New Mexico.
That represents 30 percent of the rigs operating in the
entire United States and was 300-plus operating rigs more
than the next two most active basins: the Eagle Ford (218)
in South Texas and the Williston (183) in North Dakota and
Montana. It also numbered 74 more rigs than were
operating in the Permian Basin a year earlier.
There is another trend developing, however, that is
changing Permian Basin dynamics: increased horizontal
drilling. Perhaps no company represents the shift to
horizontal better than Approach Resources Inc. President
and Chief Executive Officer Ross Craft says the company
has transformed its operational focus in the booming
Wolfcamp Shale from vertical to horizontal over the past
few years, and expects to continue to expand its horizontal
activity.
"There was a bigger bang for our buck by going
horizontal," Craft remarks.

JUNE 2014 119



American Oil and Gas Reporter - June 2014

Table of Contents for the Digital Edition of American Oil and Gas Reporter - June 2014

Contents
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