Jet Pump/Rod Pump Technologies Combo Helps Broad Oak Energy Accelerate Its Growth By Greg Wilkes MIDLAND-The story of Broad Oak Energy Inc. illustrates how effective artificial lift systems can impact a company's growth and overall economics. By using a combination of jet pumps and rod pumps in the Wolfberry play in the Midland Basin of West Texas, the company was able to optimize well performance and accelerate its drilling schedule to drill and complete 493 wells in only four years. Because of the wells' strong economics and the company's sizable acreage position, Broad Oak Energy found itself in an enviable position as the Wolfberry trend took off. In July 2011, the assets of Broad Oak were merged into Laredo Petroleum Inc. for aggregate consideration of $1.01 billion. One year later, legacy Broad Oak Energy management and technical staff founded Broad Oak Energy II LLC as a successor company. As a privately held independent, the new company remains focused on the Permian Basin, specifically horizontal drilling in multiple oil-producing shale zones in the Wolfcamp formation. JUNE 2014 91