What they want even more is... an oil play with Middle East–type economics located in the Lower 48.
oil play that can generate really attractive returns in the new low oil price world.
a massive land rush taking place in such a play right now where land prices are off the charts.
Delaware Basin Gem, and it is surrounded by some of the biggest producers in the region who have been drilling outstanding wells.
The Delaware Basin: The Permian’s Next Act
In the fall of 2014, Saudi Arabia abandoned a decades-old strategy of supporting oil prices and instead jacked up production into an already oversupplied market. The Saudis had figured out what was coming. They knew their control of the global oil market had come to an end.
The Bakken ushered in the era of horizontal oil production. The Eagle Ford followed shortly thereafter.
Neither of those can hold a candle to the Permian Basin. It's a play where oil producers can not only break even but also make great money with $45 oil and grow production. It was the Permian that made the Saudis realize that their era of oil dominance was ending.
The Permian’s first horizontal act was the Midland Basin. The land rush there took place a couple of years ago. The Midland gave us a taste of what the Permian was capable of. In 2016, the Permian’s second horizontal act has been taking place in the Delaware Basin.
incredible wells drilled by OGIB portfolio stock Resolute Energy (NYSE: REN). Resolute’s share price tells you exactly how good those wells were.
land prices in the Delaware Basin have reached more than $30,000 per acre, an astounding amount considering that we are at the bottom of a generational oil collapse.
Delaware Basin Gem acquired its Delaware Basin acreage long before the land rush began.
Torchlight Energy Resources, Inc. (TRCH) Permian Basin geologist Rich Masterson. Masterson, a recipient of the 2014 Hearst Energy Award for Technology, is the guy who originated the famous Wolfbone play in the Delaware Basin (http://dtn.fm/9M6xB) http://www.torchlightenergy.com/ potential billion-barrel Orogrande Basin discovery (http://dtn.fm/0w5Tt) (WolfPenn) in West Texas
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