OKLAHOMA CITY—There’s more, much more, to the Midcontinent than Oklahoma’s Stack and Scoop plays. The traditionally strong Western Anadarko Basin has multiple targets that will keep drilling in the area strong for years to come, according to an executive whose firm has emerged as one of that area’s major players.

Scott Goodwin, vice president of operations for FourPoint Energy LLC, told attendees at Hart Energy’s recent DUG Midcontinent conference that the Western Anadarko has “low-hanging fruit,” adding FourPoint “is very focused on mapping and expanding” its position there.

“It’s great to hear about the excitement in the Scoop and Stack,” Goodwin said. But there’s more out there, he said, adding that FourPoint estimates there are40,000 prospective well locations “and counting” in the basin.

The Western Anadarko stretches from northwestern Oklahoma into the northeastern counties of the Texas Panhandle. It has more than 20 stacked pay zones, including multiple Granite Wash zones, plus the productive Cleveland, Hogshooter and Atoka areas.

Downspacing opportunities multiply the overall opportunities for FourPoint and other producers, Goodwin said.

The “big change” for Denver-based FourPoint, which was founded by Cordillera Energy Partners executives following that firm’s sale to Apache Corp. (NYSE: APA) in April 2012, was its acquisition of Chesapeake Energy Corp.’s (NYSE: CHK) Western Anadarko assets in 2015 and early 2016, expanding its lease position to 760,000 net acres.

“Their exit out of the Western Anadarko in Oklahoma and Texas has allowed us to become the dominant producer in the region,” he said.

Daily production averages 415 million cubic feet equivalent per day (MMcfe/d), 44% liquids, with proved reserves of 2.6 Bcfe.

The Chesapeake acquisitions are among seven major acquisitions the firm has made in the area, Goodwin said. FourPoint also holds New Mexico acreage in the Permian Basin, but its current focus is squarely on the Midcontinent, Goodwin said.

FourPoint currently operates 1,769 producing wells and has a 446-mile gathering system in the Midcontinent.

Advances in drilling technology are another plus, Goodwin said, adding “we’re really keen on longer laterals. The indications from longer laterals are tremendous.” He said the firm has a $3.2 billion capital commitment to the Western Anadarko and has identified 700 well locations on its acreage for development in the immediate future.

Goodwin noted FourPoint has made a concerted effort to cut lease operating expense, which has dropped 15% from the previous year. It may seem counterintuitive, he said, but the cost-cuts allowed more operators to be hired at field offices in Elk City and Woodward, Okla. He noted 150 of FourPoint’s 200 employees now work at field locations.

“We’ve put more boots on the ground” and that has given field superintendents greater control of their own assets.” He also said having more personnel in field locations has reduced costs. FourPoint also has added 200 field compressors, increasing cash flow and reserves, he said.

With multiplay/multipay opportunities, advancing technology and improving infrastructure that reduces costs, “the Western Anadarko is a good place to be right now and it will only get better,” Goodwin said.

Paul Hart can be reached at pdhart@hartenergy.com.