Fort Worth-based Point Energy Partners has tripled its crude oil production in Delaware Basin in the past year, according to data from Railroad Commission of Texas reported by Hart Energy. Latest output is 14,996 barrels per day compared to 5,615 barrels per day a year ago. Including associated gas, March output was 20,123 boed.
John Sabia, CFO and senior partner, told Hart Energy most of the growth is from new wells, but it also includes a few bolt-on acquisitions. Production reached as high as 20,803 b/d of oil and 27,487 boed in November 2023 primarily from Ward County but also from Winkler County. The 15-well Megalodon unit has been online since March in northern Ward County. Point Energy expects to complete the 12-well Cave Bear unit later this summer also in Ward to further grow production.