Permian Basin Mineral Rights
In addition to Energy Hunter Resources’ core acreage position located in the heart of the Eagle Ford Shale, the Company owns mineral rights under approximately 320 gross acres located in Howard County, Texas. Energy Hunter estimates that a total of nine wells can be drilled on this acreage position and an active drilling program is currently underway.
The Lower Spraberry and Wolfcamp A are horizontal targets in the offset wells. Potential horizontal development exists in the Wolfcamp B and Wolfcamp C benches as well.
The Permian Basin is one of the most economic plays in North America. As of December 2, 2016, there were a total of 235 horizontal drilling rigs running in the Permian Basin of West Texas. This continued recovery during a depressed commodity priced environment represents the fastest recovery of any U.S. resource play as an increasing number of E&P operators allocate capital toward regions that can generate superior economic returns.