Midland-based Permian Resources said recently it increased its daily drilled footage by 13 percent in 2023Q2 from 2022Q3 (the quarter during which it started). It attributed the improvement to “high-grading its drilling fleet and optimizing drilling practices such as reducing flat time through bottom-hole assemblies.” Permian Resources, which started from a merger of Centennial Resource Development and Colgate Energy to focus on Delaware Basin, drilled an average of 1,165 feet per day in Q2 to set a company record.
Permian Resources also improved its completion efficiency; it averaged 1,800 feet completed per day in Q2 – a 31 percent increase from 2022Q3. Pump hours per day increased 25 percent, and the company also expanded water recycling and used 60 percent recycled water for its completion operations during Q2.
Co-CEO Will Hickey told Enverus Aug. 4, “To put our year-to-date water recycling efforts into perspective, through the first six months of the year Permian Resources has already pumped more recycled water than both predecessor companies combined during all of last year.”
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