Mendell has built an in-house team of highly skilled, focused, and experienced prospecting geologists and engineers to find the best acreage among the increasing deal flow generated by our land team while determining the best way to drill a prospect, including ideal target formations and drill locations.
By focusing our human capital on prospecting and deal flow, we’ve developed a strong prospect list of opportunities throughout Colorado and Wyoming. Our “geology first” approach relies heavily on offsetting wells and their drilling and production records, data that is widely available and easily integrated into sophisticated software tools used by our geologists and engineers. When overlaid with the deep experience of our team, our demonstrated ability to execute on complex land acquisition projects, as well as drill successful wells, Mendell has an impressive competitive advantage over other smaller operators. We continue to successfully partner with top companies in the oil and gas E&P including CPC Taiwan, Suncor, Anadarko, DCP, IPT Engineers, and LT Environmental.
The cost to drill and complete wells across the Wattenberg and DJ Basin has dropped considerably – in some instances by as much as 40 to 50%. This, coupled with significant improvements in drilling productivity, means that despite lower prices, operators can still generate acceptable returns when it is necessary to drill.
“Wattenberg HZ is a billion-barrel opportunity in an existing core area, making this field one of the largest and most cost-efficient onshore oil and natural gas projects in the U.S.” — Anadarko