Jim Henry, CEO of Henry Resources LLC and a long-time Midland oil operator, is credited with discovering the Wolfberry play, the largest Midland Basin discovery in more than 50 years. In 2003, Henry adapted slickwater multistage fracture stimulation developed in the Barnett Shale to vertically exploit the Spraberry and Wolfcamp formations in the basin. The Wolfberry has 3 billion barrels in technically recoverable oil. This became the foundation of production at the Wolfcamp and Spraberry formations, which doubled Permian Basin oil production to 2 million barrels of oil equivalent per day.
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