location

CO/WY

Field Overview

Discovered in the 70s. Has >30k producing wells spread over >2000 sq/m., and 7 formations, only two of which now support 8-12 laterals per section. Major operators control the field and have “cracked the code” for drilling. Yields and CapX continue to climb. In the last couple of years investment emphasis has been on the Permian in Texas, while the Wattenberg has quietly crept up to one of the best performing fields in America.  Today, it ranks among the Top 5 fields in terms of break-even lifting costs.

We like its predictability in terms of results and costs, and the systematic development of acreage makes it attractive. However, recent regulatory changes have impacted its feasibility in certain areas of the field.