New Assessment Estimates Approximately 3 Billion Barrels of Recoverable Oil Resources in the U.S. Midland Basin

en.Wedoany.com Reported - On October 7, energy research firm Enverus Intelligence Research (EIR) released the results of a resource evaluation of the Barnett-Woodford interval in the Midland sub-basin of the U.S. Permian Basin, estimating that this interval holds approximately 3 billion barrels of undeveloped recoverable oil resources, involving more than 6,400 potential drilling locations. According to EIR's research methodology, the Barnett-Woodford is the interval with the largest undeveloped oil resource volume among all reservoir combinations in the Midland sub-basin, with its estimated resource volume equivalent to approximately 75% of the total remaining oil resources of the Middle Bakken and Three Forks intervals in the U.S. Williston Basin.

EIR's research shows that development activity in the Barnett-Woodford interval is increasing. Approximately 18 months ago, this interval had not yet been incorporated into the primary development models of most oil and gas producers and investors. As early drilling results were progressively published, operators began to include it in their broader well planning. Since 2025, the average per-well performance of this interval has exceeded the Midland Basin benchmark level by more than 30%.

According to the drilling economics model established by EIR, under the assumption of a drilling cost of approximately $800 per foot of horizontal lateral, the estimated breakeven oil price for the Barnett-Woodford interval is approximately $41 per barrel, close to the recent average levels of the Midland and Delaware sub-basins. This figure is a model estimate and does not represent the actual production costs already achieved by any specific operator.

In terms of regional distribution, EIR adjusted drilling performance across different counties by integrating factors such as development maturity, well density per unit area, and development timing. The results show that Ector County, Crane County, and northwestern Upton County in Texas are the stronger-performing areas, with recent wells having an average estimated breakeven oil price of approximately $42 per barrel. Southeastern Andrews County, southwestern Martin County, and western Midland County rank next, with a corresponding oil price of approximately $46 per barrel.

This study is part of EIR's ongoing series of reports on drilling inventory, development economics, and resource life across major oil and gas basins in North America.