丹佛如果投资者担心保德河盆地的生产和利润潜力，他们所需要做的就是与 Anschutz Exploration Corp. 的总裁兼首席执行官 Joe DeDominic 交谈。

事实上，这家私营独立石油和天然气公司在 Powder River 工作了大约 50 年，已经克服了——至少是基本上战胜了——开发该油田所涉及的任何最大挑战：成本、钻井时间、井结果和外运能力不一致。

Anschutz 总部位于丹佛，目前在 Powder River 盆地拥有 475,000 英亩净土地的租赁权，拥有 486 口总井、四个活跃钻机和 26,000 净桶油当量/天（75% 石油）的权益。该公司在活动、面积和产量方面跻身粉河盆地前五名，其中包括四家上市公司：大陆资源公司、EOG 资源公司、西方石油公司和德文能源公司。

德多明克表示，安舒茨目前拥有该盆地前 10 口井中的 3 口。

“然而，2022 年初的油井结果表明，到年底，Anschutz 最有可能在前 10 名中看到另外三到四口油井，”他对 6 月 29 日聚集在 Hart Energy 的 DUG Bakken 和落基山脉会议上的人群说道。展览。

“2022 年 3 月的油井结果表明，到年底，Anschutz 很可能会在前 10 名中新增三到四口 [Powder River] 油井。”Anschutz Exploration Corp. 总裁兼首席执行官 DeDominic 说。

他说，由于从评估到全面开发的转变以及公司越来越注重“可重复的结果”，Anschutz 的钻井时间正在缩短。Anschutz 武器库中最好的井的综合寿命从 2020 年的 11.8 天提高到 2022 年初的 7.8 天。

至于成本，自 2019 年以来，该公司天然气业务的现金运营费用减少了 55%，使同期每侧英尺总井成本降低了约 40%。德米尼克表示，分拆、流程优化和供应链调整似乎是可持续的，有助于控制保德河流域的通货膨胀。

此外，他补充说，粉河盆地继续保持可靠的石油和天然气净回报，因为基础设施产能基本平衡——与美国其他繁忙的页岩油区相反

先前的开发阶段已建立必要的管道、电力服务和供水管线，以帮助中游一侧的保德河流域生产商。他说，强劲的天然气产量和液体产量使中游在该地区具有竞争力，这是底线支出的另一个好处。

与 48 个州其他地区的监管行动相反，联邦法规在很大程度上有利于促进发展。据德米尼克称，目前联邦租赁批准的平均时间是四个月。

“有必要制定一个为期 18 至 24 个月的规划计划，以确保获得可钻探的联邦许可证，这将使运营商能够加快开发步伐，”他说。

Anschutz 是一家私营公司，没有债务。其核心地位及其可重复的正成本结构使 Powder River 资产能够在有限的资本部署下产生大量现金流。而且，该资产现金流为正，且持续发展，WTI 石油价格低至 50 美元/桶。

DeDominic 表示，以 2.5 的钻机速度计算，该公司的库存可能会在 20 多年内提供上行机会。从 2023 年开始的这一速度可能会使用 70% 的现金流产生高个位数的产量增长。

该公司计划到 2022 年产量达到 26,000-28,000 桶油当量/天（73% 石油，86% 液体）；明年的计划产量为 38,000-42,000 桶油当量/天（62% 为石油，83% 为液体），增幅高于去年同期预测的 40% 以上。

DENVER—If investors are worried about the potential for production and profit in the Powder River Basin, all they need to do is talk to Anschutz Exploration Corp.’s president and CEO, Joe DeDominic.

Indeed, having worked in the Powder River for some 50 years, the private, independent oil and gas company has mastered—or at least, largely prevailed upon—many of the greatest challenges involved with developing the play: cost, drilling times, inconsistent well results and takeaway capacity.

Based in Denver, Anschutz currently owns leases on 475,000 net acres in the Powder River Basin with interests in 486 gross wells, four active drilling rigs and 26,000 net boe/d (75% oil). The company rounds out the top five Powder River Basin players for activity, acreage and production with four public companies: Continental Resources Inc., EOG Resources Inc., Occidental Petroleum Corp. and Devon Energy Corp.

DeDominc said Anschutz currently has three of the basin’s top 10 wells.

“However, early 2022 well results indicate Anschutz is most likely to see three to four additional wells in the top 10 by year-end,” he told the crowd gathered on June 29 for Hart Energy’s DUG Bakken and Rockies Conference and Exhibition.

“Early 2022 well results indicate Anschutz is most likely to see three to four additional [Powder River] wells in the top 10 by year-end.”—Joe DeDominic, president and CEO, Anschutz Exploration Corp.

Anschutz drillings times are declining as a result of the transition from appraisal to full-scale development and the company’s increased focus on “repeatable results,” he said. A composite of the best well in Anschutz’s arsenal improved from 11.8 days in 2020 to 7.8 days in early 2022.

As for cost, the company’s gas reduced its cash operating expense by 55% since 2019, driving down total well cost per lateral foot by some 40% during the same period. Debundling, process optimization and supply chain alignment changes appear sustainable and help keep inflation capped in the Powder River Basin, DeDominic said.

Moreover, he added the Powder River Basin has continued to maintain reliable netbacks on oil and gas because infrastructure capacity is largely balanced—contrary to other busy shale plays in the U.S.

Prior development periods put into place necessary pipelines, electrical services and water lines that assist the Powder River Basin producers on the midstream side. And strong gas realizations and liquids yields make the midstream competitive in the area, another benefit to bottom-line expenses, he said.

Contrary to regulatory action in other parts of the Lower 48, federal regulations are largely working in favor of increased development. According to DeDominic, the current average for a federal lease approval is four months.

“A planning program with an 18- to 24-month time frame to secure drillable federal permits will allow operators to facilitate increased development pace is warranted,” he said.

Anschutz is a private firm and has no debt. Its core position and its repeatable, positive cost structure allow the Powder River asset to generate significant cash flow with limited capital deployment. And, the asset is cash flow positive with sustained development with WTI oil priced in the low $50s/bbl.

The company’s inventory may provide upside opportunity for more than 20 years as a rig pace of 2.5, DeDominic said. That pace beginning in 2023 may generate high single-digit production growth using 70% of cash flow.

The firm intends to close out 2022 with production between 26,000-28,000 boe/d (73% oil, 86% liquids); for next year, the plan is production between 38,000-42,000 boe/d (62% oil, 83% liquids)— a growth pace on the high end of the year-over-year forecast of more than 40%.