Fairway III became a significant operator in the Anadarko Basin in November 2016 when we closed on the acquisition of Samson Resources’ “Central Anadarko” package through the bankruptcy process. The following summarizes Fairway III’s current position.
Net Production: 7,400 BOEPD
Active Operated Wells: 290
Active Non-Operated Wells: 1,080
Net Acres: 166,000
Producing Formations: All major formations in the Anadarko Basin, including Osage/Meramec, Red Fork, Cleveland, Marmaton, Morrow and Springer
Fairway III acquired a significant position in the NW STACK play as part of the Samson transaction (primarily in Major and extreme southern Woods counties). We have grown the position to about 41,000 net acres while consolidating into a single core development area. Approximately 80% of the acreage is HBP with operational control of over 80 sections.
We initiated development of the acreage in early 2017 and have drilled 20+ horizontal wells to date targeting the Upper and Lower Osage and Meramec horizons.
Fairway III also acquired a large position in the Western Oklahoma portion of the Anadarko Basin (centered in Roger Mills, Ellis and Beckham counties). We have been studying our position and participating in select drilling and recompletion opportunities to further evaluate what we believe to be substantial upside potential in this stacked-pay area. Our total acreage position in the area is roughly 125,000 net acres, all of which is HBP.