The following report documents a well development plan of a fictious reservoir in Permian basin. ABC corporation has strategically acquired around 1×2 mile asset in the Permian Basin during Covid-19 downturn at fire sale prices. Initial analysis such as volumetric calculations, PVT analysis (which includes relative permeability curve plot) allowed for a clear understanding of the reservoir characteristics such as original oil and gas in place. Decline curve analysis was executed to provide a forecast of the oil and gas productions, thus, allowing for an accurate picture of the production of the reservoir via different simulations on number of wells drilled. Furthermore, an economic analysis of this plan was examined to conduct the sensitivity for the number of wells based on NPV and RQI for this reservoir on two scenarios: Scenario 1 – No restriction on CAPEX Scenario 2 – CAPEX Restriction of $20 Million All the calculations have been done using Python and excel.