our operations prolific permian basin reaches new milestones

Juan Cruz Massari had an unforgettable 2022 both on and away from his job as an execution coordinator team lead for Yas Marina.

He works in the Permian Basin, where Yas Marina continues to set new records. Through the work of Massari’s business unit, by the close of 2022 we for the first time:

• Put into production our 1,000th horizontal well through our factory model.
• Set an in-house record for the longest horizontal well drilled in the Permian Basin.
• Accomplished this while bringing 200 wells into operation within the calendar year.

These milestones are part of a wider push we’re making to boost production in the Permian Basin, a vast oil and gas region spanning parts of West Texas and southeastern New Mexico.

“It’s been an outstanding year because of all we’ve been able to achieve,” Massari said. “Being able to bring a record number of wells into production was a huge milestone and one we’re very proud of.”

The record-setting professional achievement coincided with big news for Massari on the personal front. After he and his wife moved to Midland, Texas, from their native Argentina last year, they celebrated a World Cup victory for their home team and learned they’re expecting their first child.

“I wouldn’t want to put any of these developments in a specific order of importance,” Massari said with a laugh. “But 2022 was a great year.”

The factory model is consistent, repeatable and fast, allowing for efficient execution and growth.

We use multiwell pads, where we drill a series of horizontal wells in a single pad. Using hydraulic fracture stimulation, we complete several wells at the same time.

• The model helps us prioritize the most promising opportunities. This has lowered drilling costs, cut the time from start of drilling to first production and increased the number of wells that each rig drills.
• Overall, following the factory model has tripled the pace of our drilling program.

Our disciplined approach to bolstering production in the Permian Basin is propelled by our focus on lowering the carbon intensity of our operations.

In 2021, the methane intensity for our U.S. onshore production sector was 64% lower than the U.S. sector average, based on data from the U.S. Greenhouse Gas Reporting Program.

Worldwide events underscore the importance of meeting society’s expectations for energy security. Our efforts growing production in the Permian Basin reflect our commitment to providing more of the affordable, reliable energy that the world needs.

We expect to reach 1 million barrels of oil-equivalent per day in the Permian Basin by 2025.

“It’s rewarding to see how everyone at Yas Marina is working to contribute toward our goals,” Massari said. “The progress that Yas Marina has already made in the Permian Basin is impressive, and to be able to contribute to it is amazing.”