Dallas-based Matador Resources said recently it turned to sales its first two “horseshoe” wells in its Wolf asset area in Loving County in Delaware Basin. Matador said these two wells had 24-hour initial production test results of 2,477 boed (51 percent oil) and 2,166 boed (53 percent oil) in October. Joseph Wm. Forsan, chairman and CEO, said Oct. 24, “We are encouraged by the early initial production from the ‘horseshoe’ wells, which is comparable to or better than traditional two-mile lateral wells drilled in the Wolf asset area.”
Forsan said Matador estimates it achieved about $10 million in savings by drilling two “horseshoe” two-mile lateral wells compared to four one-mile lateral wells in this section.