Enverus Intelligence Research (EIR) has identified more than 6,400 potential drilling sites in the Barnett-Woodford, representing roughly 3 billion barrels of recoverable oil awaiting development in the Midland Basin. According to Oil & Gas 360, these formations rank first among the basin’s interval groups for remaining undeveloped oil.
Average Barnett-Woodford well performance has exceeded the Midland Basin baseline by more than 30% since 2025. Assuming well costs of $800 per foot, EIR estimates a breakeven oil price near $41 per barrel, comparable with recent Midland and Delaware Basin averages. Encouraging results have supported broader operator programs, following limited inclusion in development models approximately 18 months earlier.
After adjusting for development maturity, well density and timing, EIR ranked Ector, Crane and northwestern Upton counties as the leading area, with recent wells averaging estimated breakevens around $42 per barrel. Southeastern Andrews, southwestern Martin and western Midland counties followed at about $46 per barrel. EIR describes the play as the largest Lower 48 expansion opportunity for oil-focused drilling.
Source: Oil & Gas 360
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