Addison-based King Operating Corp. said recently it added two developments in Permian Basin. King’s partnership assets include the ConocoPhillips project, a three-well package of wells completed in first quarter in Delaware Basin with 16 percent interest. The latest addition is Phantom Hill project in eastern shelf of Permian, another three-well package with 45 percent interest in Buffalo and 39 percent interest in Ancient and Bison. Ancient and Bison were drilled in 1Q and completed in 2Q.
King’s Believers project in Permian Basin has an oil focus on 22,207 contiguous acres with six potential payzones. King Operating also has partnership assets in Anadarko in Texas panhandle, Austin Chalk in south Texas and Haynesville in east Texas.