XOG Operating, LLC was formed in 2005 as the successor to Xeric Oil & Gas Corporation, which was established in 1986 as a Texas Corporation with principal offices in Midland, TX. In addition to our headquarters in Midland, we have recently grown to include an office in Corpus Christi, TX. XOG is organized as a closely held entity with our manager & CEO, Randall L. Capps, owning 100% of the outstanding stock. XOG property holdings have grown from two marginal stripper wells in Northwest Texas to over 1500 wells in 10 states. With two offices, and including our field personnel, XOG currently has approximately 80 employees.
Our operations are primarily concentrated in the Permian Basin, the largest onshore oil and gas basin in the United States. This basin is characterized by an extensive production history, mature infrastructure, long reserve life, multiple producing horizons, enhanced recovery potential, and a large number of operators. The primary formations in the Permian Basin under our core properties is the Grayburg/San Andres, Wolfberry, and Devonian, located at depths ranging from 2,500 feet to 13,000 feet. Our Grayburg/San Andres production has been identified as an excellent candidate for tertiary recovery utilizing CO2 injection. We have assembled a multi-year inventory of development drilling and exploitation projects in the Wolfberry that will allow us to grow proved reserves and production.
We are also focused on the Arkoma Basin in Arkansas and the Gulf Coast Basin of South Texas. The primary producing horizon in the Arkoma is the Atoka. This zone is characterized by multiple plays and long reserve life. The Gulf Coast Basin of South Texas is an emerging area of emphasis for our company. We have an extensive inventory of 3D seismic defined prospects and mature fields with developmental drilling opportunities. We also have a 50,000 acre position in the Eagle Ford trend.
Other areas of interest include the Williston Basin in North Dakota, where we have acquired significant acreage, with an intention of applying horizontal drilling, advanced fracture stimulation, and enahced recovery technologies. We also have positions focused on the Mid-Continent region of the United States, encompassing the Hugoton region of Kansas, the Anadarko basin of Oklahoma, and the western region of Colorado.