Fairway III became a significant operator in the Anadarko Basin in November 2016 when we closed on our acquisition of Samson Resources’ properties in the central portion of the play. The following summarizes Fairway III’s current position in the basin.
Net Production: 8,000 BOEPD
Operated Wells: 600
Non-Operated Wells: 1,700
Net Acres: 250,000
Producing Formations: All major formations in Oklahoma, including Osage/Meramec, Red Fork, Cleveland, Marmaton, Morrow and Springer
NW Extension of the STACK
Fairway III acquired a significant position in the NW Extension of the STACK (Major, Woodward and Woods counties) as part of the Samson transaction and we have continued to strategically add to it. In mid-2017, we initiated development of our acreage by undertaking a four-well pilot program. After a short hiatus to evaluate our results, we embarked on a continuous one-rig development program. Our position in the NW Extension of the STACK will soon approximate 34,000 net acres, of which approximately 90% is HBP.
Fairway III also acquired a large position in Ellis, Roger Mills and Beckham counties as part of the Samson transaction. We have been extensively studying our position and recently implemented a continuous recompletion program to further evaluate the various formations in the stacked-pay area. We currently anticipate commencing a drilling program in early-2019. Our position in the area approximates 57,000 net acres, all of which is HBP.