RE:Winter Drilling ResultsT69 R4, otherwise known as Gold Creek West, is where the four best wells were drilled earlier this year. VRN controls the majority of land in this area. They have 310 future drilling locations available in Gold Creek West and another 560 locations in the Gold Creek area.
Wells 5 and 6 on the May top 7 list in the above chart were drilled at Gold Creek, T68 R2. VRN presently has two rigs drilling in the Gold Creek area.
Not all barrels are equal. The four Gold Creek West wells are producing 1500 to 1800 barrels of oil plus significant amounts of gas. The best Gold Creek wells peaked at about 400 barrels of oil plus a much higher percentage of gas. They are still very good wells but there is no comparison to what VRN drilled this winter at Gold Creek West.
The last well on the above list was drilled further south at Karr. It is another oily monster producing almost 1000 barrels per day of oil plus almost 400 boe/d of gas.
The March 20, 2024 Investor Day presentation shows the potential. The next 75 top producing wells on the above list were all drilled in the same general area. VRN has acquired enough land in this area to keep them busy drilling for many years to come.
https://veren-website.files.svdcdn.com/production/documents/Presentations/2024/2024-Analyst-Day-Final-Live-Version.pdf