This Post Last Updated: Sunday, July 27, 2008
9:30pm CDT
Haynesville Shale
Large Natural Gas Deposit, Northwest Louisiana
Haynesville Shale
Large Natural Gas Deposit, Northwest Louisiana
UPDATES:
Monday, June 21, 2008
Monday, June 21, 2008
Note: This post will be updated over next few days so check back
Photo Credit: AubreyJ.........
Wells of Past, 1967 - Grandfather’s Farm - Red Shute Plantation
Bossier Parish
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* Let’s get caught up with the Haynesville Shale News by starting off with this news article posted on the Shreveport Times website, July 19th...
The Haynesville Shale telephone game
....-The Shreveport Times also had these articles up on the 20th...
> Questions asked, answered about Haynesville Shale
> Shale coalition organizes, elects leaders
....-And this article up today, Monday 21st...
> Editorial: Continue neighborhood groups after leases
* IStockAnalyst.com had this informative Market Report up on the 19th and it goes in part like this... Unconventional oil and gas fields offer significant advantages. Not only are they in politically stable areas, they offer relatively little risk. Because each well is much like another, costs can actually go down over time, a sharp contrast to the rapidly rising costs of wells overseas... “I think they’re blown away with what the end results are,” said Jefferies & Co. analyst Subash Chandra. “The resource grows over time and the costs go down.”... The numbers are huge. The first major shale field to be produced, the Barnett Shale near Fort Worth, Texas, is estimated to contain 50 trillion cubic feet of gas, the equivalent of nearly nine billion barrels of oil — about as much as the recently discovered giant Tupi field off the coast of Brazil. Chesapeake estimates that the Haynesville field could hold five times that, and other major shale fields have been found in Arkansas, Pennsylvania and British Columbia... Chesapeake Chief Executive Aubrey McClendon said the deal with BP should highlight the importance of such fields... “What the market should pay attention to is that a company like us has assets that have appeal to the biggest companies in the world,” Mr. McClendon said...
Read the full report at link below...
Big Oil Targets Unconventional Nat. Gas
* Star-Telegram.com had this article up on the 20th. It starts off like this... In a packed sanctuary of the Shreve City Baptist Church, Larry Farley is spreading the gospel of mineral rights... Speaking to residents in the middle-class neighborhood of Anderson Island a few miles south of downtown Shreveport, Farley has a simple message: Organize and you’ll get a better deal... The model originated with Fort Worth neighborhoods, and residents of Shreveport, a city of 200,000, have been busily taking notes... "This process is the same process as in Fort Worth," Farley said. "It’s just moved 250 miles to the east." Farley, president of the Captain Shreve Neighborhood Association, is part of the ShreveCentre Coalition, which comprises 16 Shreveport neighborhoods... and may attract more... that have banded together to negotiate a natural gas lease...
Read the rest at link below...
Shreveport looking to learn from the Barnett
* ResourceInvestor.com has this report up today...
Chesapeake’s Shale Gas Plays Pay Big Dividends
....-The Shreveport Times also had these articles up on the 20th...
> Questions asked, answered about Haynesville Shale
> Shale coalition organizes, elects leaders
....-And this article up today, Monday 21st...
> Editorial: Continue neighborhood groups after leases
* IStockAnalyst.com had this informative Market Report up on the 19th and it goes in part like this... Unconventional oil and gas fields offer significant advantages. Not only are they in politically stable areas, they offer relatively little risk. Because each well is much like another, costs can actually go down over time, a sharp contrast to the rapidly rising costs of wells overseas... “I think they’re blown away with what the end results are,” said Jefferies & Co. analyst Subash Chandra. “The resource grows over time and the costs go down.”... The numbers are huge. The first major shale field to be produced, the Barnett Shale near Fort Worth, Texas, is estimated to contain 50 trillion cubic feet of gas, the equivalent of nearly nine billion barrels of oil — about as much as the recently discovered giant Tupi field off the coast of Brazil. Chesapeake estimates that the Haynesville field could hold five times that, and other major shale fields have been found in Arkansas, Pennsylvania and British Columbia... Chesapeake Chief Executive Aubrey McClendon said the deal with BP should highlight the importance of such fields... “What the market should pay attention to is that a company like us has assets that have appeal to the biggest companies in the world,” Mr. McClendon said...
Read the full report at link below...
Big Oil Targets Unconventional Nat. Gas
* Star-Telegram.com had this article up on the 20th. It starts off like this... In a packed sanctuary of the Shreve City Baptist Church, Larry Farley is spreading the gospel of mineral rights... Speaking to residents in the middle-class neighborhood of Anderson Island a few miles south of downtown Shreveport, Farley has a simple message: Organize and you’ll get a better deal... The model originated with Fort Worth neighborhoods, and residents of Shreveport, a city of 200,000, have been busily taking notes... "This process is the same process as in Fort Worth," Farley said. "It’s just moved 250 miles to the east." Farley, president of the Captain Shreve Neighborhood Association, is part of the ShreveCentre Coalition, which comprises 16 Shreveport neighborhoods... and may attract more... that have banded together to negotiate a natural gas lease...
Read the rest at link below...
Shreveport looking to learn from the Barnett
* ResourceInvestor.com has this report up today...
Chesapeake’s Shale Gas Plays Pay Big Dividends
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* UPDATE *
Tuesday, July 22, 2008
* The Bossier Chamber of Commerce and Greater Bossier Economic Development Foundation reports it will be host of an Educational Seminar on the Haynesville Shale from 6:00 to 8:00pm July 29th, at the Bossier Parish Community College.
* Bloomberg.com had this report up Tuesday morning and it goes in part like this... Growth in North American gas drilling, which has lagged behind overseas oil exploration, will likely accelerate as producers develop fuel deposits in shale formations stretching from Texas to Pennsylvania, analysts said... Calgary's EnCana Corp. said last month that the Haynesville Shale in Louisiana may be as prolific as the Barnett Shale in north Texas, where output is about 3 billion cubic feet of gas a day and rising. Range Resources Corp. of Fort Worth on July 14 raised reserve estimates for Pennsylvania's Marcellus Shale...
Read the full report at link below...
Halliburton Profit Drops 67% After 2007 Gain From KBR
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* UPDATE *
Tuesday, July 22, 2008
* The Bossier Chamber of Commerce and Greater Bossier Economic Development Foundation reports it will be host of an Educational Seminar on the Haynesville Shale from 6:00 to 8:00pm July 29th, at the Bossier Parish Community College.
* Bloomberg.com had this report up Tuesday morning and it goes in part like this... Growth in North American gas drilling, which has lagged behind overseas oil exploration, will likely accelerate as producers develop fuel deposits in shale formations stretching from Texas to Pennsylvania, analysts said... Calgary's EnCana Corp. said last month that the Haynesville Shale in Louisiana may be as prolific as the Barnett Shale in north Texas, where output is about 3 billion cubic feet of gas a day and rising. Range Resources Corp. of Fort Worth on July 14 raised reserve estimates for Pennsylvania's Marcellus Shale...
Read the full report at link below...
Halliburton Profit Drops 67% After 2007 Gain From KBR
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* UPDATE *
Wednesday, July 23, 2008
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* KTAL Website had this News/Video report up Tuesday evening...
Louisiana Governor Bobby Jindal Talks To Small Towns In the Pelican State
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* Guardian.co.uk had this read up today and it goes in part like this...
Drilling in U.S. shale fields, which are believed to hold massive natural gas reserves, should provide handsome profits in coming months to companies like Halliburton Co that sell the technology needed to tap the complex wells... Other large companies like Baker Hughes Inc and BJ Services Co, which have extensive service offerings and a large North American business, are best poised to benefit as drilling accelerates in areas like Louisiana’s Haynesville Shale and the Marcellus Shale in Appalachia in the Northeast...
Read the full report at link below...
US shale drilling a boon for big oil service firms
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* MarketWatch.com brings us this report...
Cubic Energy, Inc. Provides Update On Its Northwest Louisiana Haynesville Shale Activity
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* KSLA website has this informative News/Video posted up on their website today and it goes in part like this... The city of Shreveport has taken a step toward cashing in on the region's recently-discovered natural gas deposit known as Haynesville Shale... Councilmembers voted Tuesday to give the state Mineral Board the green light to put more than 2,600 acres of city-owned land-- including parks, golf courses, utilities and rights of way-- up for bids... That process will eventually lead to the leasing of the mineral rights attached to those public properties, giving a designated company permission to drill for natural gas on that land...
Click the rest out at link below...
Shreveport to open up public land for gas drilling
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* UPDATE *
Thursday, July 24, 2008
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* CNW Group website brings us this report this early Thursday morning and it goes in part like this... Shale plays continue to show promise -- "In the second quarter we announced an expansion of our sizeable position in British Columbia's Horn River and Louisiana's Haynesville natural gas shale plays. At Horn River, two of our recently completed wells are producing at a very strong first-month average rate in excess of 5 million cubic feet per day (MMcf/d). At Haynesville, during a two-day test, the initial flow rate of a second horizontal well was 15 MMcf/d. These well results are exceptional and are a strong indication that the addition of these plays has the potential to accelerate the pace of our natural gas growth," Eresman said...
Read their full report at link below...
EnCana generates second quarter cash flow of US$2.9 billion, or $3.85 per share - up 16 percent
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* The Shreveport Times posted this news article up on their website today and it goes in part like this... Bossier City Council will hold a special meeting Friday to put all of the city's 3,300 acres of mineral rights on public land up for bid through the state mineral board — the biggest potential payday at possibly $90 million for any government in the area so far regarding the Haynesville Shale... The council will vote on whether to send the city's mineral rights to the Louisiana Mineral Board, which will conduct the auction for the city in October. The minimum bid must be at least $27,500 per acre, with a minimum of 25 percent on royalties...
Read the full article at link below...
Bossier City could get a big mineral payday
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* MiningTopNews.com brings us this report... Cubic Energy, Inc is reported to have announced the Company has reached total depth of 11,950 feet on its Estes 7 No. 1. 7 5/8“ casing was set at 10,208 feet and 4 1/2” liner was set at 11,950 feet. The Estes 7 No. 1 is Cubic’s fourth Haynesville Shale well in its northwest Louisiana acreage. With the 7 5/8“ casing, the Company will be able to drill horizontally in the Haynesville Shale at a later date, after being vertically completed in the Haynesville Shale. The Estes 7 No. 1 is Cubic’s first Haynesville Shale well to be drilled in the Company’s southern acreage position of Bethany Longstreet...
Read the rest of their report at link below...
Cubic Energy, Inc On Its Northwest Louisiana Haynesville Shale Activity
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* UPDATE *
Thursday, July 24, 2008
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* CNW Group website brings us this report this early Thursday morning and it goes in part like this... Shale plays continue to show promise -- "In the second quarter we announced an expansion of our sizeable position in British Columbia's Horn River and Louisiana's Haynesville natural gas shale plays. At Horn River, two of our recently completed wells are producing at a very strong first-month average rate in excess of 5 million cubic feet per day (MMcf/d). At Haynesville, during a two-day test, the initial flow rate of a second horizontal well was 15 MMcf/d. These well results are exceptional and are a strong indication that the addition of these plays has the potential to accelerate the pace of our natural gas growth," Eresman said...
Read their full report at link below...
EnCana generates second quarter cash flow of US$2.9 billion, or $3.85 per share - up 16 percent
.
* The Shreveport Times posted this news article up on their website today and it goes in part like this... Bossier City Council will hold a special meeting Friday to put all of the city's 3,300 acres of mineral rights on public land up for bid through the state mineral board — the biggest potential payday at possibly $90 million for any government in the area so far regarding the Haynesville Shale... The council will vote on whether to send the city's mineral rights to the Louisiana Mineral Board, which will conduct the auction for the city in October. The minimum bid must be at least $27,500 per acre, with a minimum of 25 percent on royalties...
Read the full article at link below...
Bossier City could get a big mineral payday
.
* MiningTopNews.com brings us this report... Cubic Energy, Inc is reported to have announced the Company has reached total depth of 11,950 feet on its Estes 7 No. 1. 7 5/8“ casing was set at 10,208 feet and 4 1/2” liner was set at 11,950 feet. The Estes 7 No. 1 is Cubic’s fourth Haynesville Shale well in its northwest Louisiana acreage. With the 7 5/8“ casing, the Company will be able to drill horizontally in the Haynesville Shale at a later date, after being vertically completed in the Haynesville Shale. The Estes 7 No. 1 is Cubic’s first Haynesville Shale well to be drilled in the Company’s southern acreage position of Bethany Longstreet...
Read the rest of their report at link below...
Cubic Energy, Inc On Its Northwest Louisiana Haynesville Shale Activity
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* The Leesville Daily Leader website had this article up this afternoon and it starts off like this... Rumors that the Haynesville Shale stretches further south into Vernon Parish are as yet unfounded, said Kevin McCotter, director of corporate development for Chesapeake Energy, one of the most aggressive energy companies seeking mineral leases in Northwest Louisiana... But only time will tell if that will change, he added... "I know it's a top of mind issue for a lot of folks," he continued, but Chesapeake is concentrating on Caddo, Bossier, Webster and DeSoto parishes in what many are characterizing as a modern-day gold rush...
Read the rest of this news article at link below...
No play for Vernon on Haynesville Shale
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* MrSwing.com reports...
Did Wall Street Forget About Chesapeake Energy's Haynesville Shale Monetization?
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* MarketWatch.com has this report out on Cabot Oil & Gas Company operations and it goes in part like this...
...The Company has several initiatives to evaluate or enhance the stratigraphic section deeper than its traditional field pay zones. Specifically, Cabot will spud a vertical well testing the Bossier and Haynesville sections in the middle of August. "This is a 35-day well with results conservatively expected by November," added Dinges...
Read the full report at link below...
Cabot Oil & Gas Provides Operations Update, Increases Capital Program
Read the rest of this news article at link below...
No play for Vernon on Haynesville Shale
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* MrSwing.com reports...
Did Wall Street Forget About Chesapeake Energy's Haynesville Shale Monetization?
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* MarketWatch.com has this report out on Cabot Oil & Gas Company operations and it goes in part like this...
...The Company has several initiatives to evaluate or enhance the stratigraphic section deeper than its traditional field pay zones. Specifically, Cabot will spud a vertical well testing the Bossier and Haynesville sections in the middle of August. "This is a 35-day well with results conservatively expected by November," added Dinges...
Read the full report at link below...
Cabot Oil & Gas Provides Operations Update, Increases Capital Program
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Now... How about some local News Video Reports...?
Got you covered!
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* KTAL has this News/Video posted on their site that goes in part like this... Just a couple of months ago ArkLaTex residents began signing mineral leases for less than $300 an acre. Now, folks are getting more than $5,000 per acre. That means someone who leases 200 acres would get a signing bonus of $1,000,000. No matter how big your bonus is, financial experts say, be sure to save some for Uncle Sam...
Click out the rest at link below...
Digging Deep...The Haynesville Shale
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* KSLA has this news article posted on their website today, (I’m hoping a News Video on topic will follow later on in the day,) and it starts off like this... The Haynesville Shale could help deliver millions of dollars for yet another Ark-La-Tex government. This time it's the city of Shreveport...
Read the rest at link below...
Shreveport wants Haynesville Shale Payout too
(NOTE: Video is now up at the above link)
> KSLA also put up this News/Video update report titled...
Now... How about some local News Video Reports...?
Got you covered!
.
* KTAL has this News/Video posted on their site that goes in part like this... Just a couple of months ago ArkLaTex residents began signing mineral leases for less than $300 an acre. Now, folks are getting more than $5,000 per acre. That means someone who leases 200 acres would get a signing bonus of $1,000,000. No matter how big your bonus is, financial experts say, be sure to save some for Uncle Sam...
Click out the rest at link below...
Digging Deep...The Haynesville Shale
.
* KSLA has this news article posted on their website today, (I’m hoping a News Video on topic will follow later on in the day,) and it starts off like this... The Haynesville Shale could help deliver millions of dollars for yet another Ark-La-Tex government. This time it's the city of Shreveport...
Read the rest at link below...
Shreveport wants Haynesville Shale Payout too
(NOTE: Video is now up at the above link)
> KSLA also put up this News/Video update report titled...
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* UPDATE *
Friday, July 25, 2008
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* KTBS had this News/Video posted on their site today and it starts off like this... The Bossier City Council this morning voted to put the mineral rights for all of the city's 3,300 acres of public property up for bid...
Click out the rest at link below...
Bossier council approves energy leases for city property
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* KTAL reports it this way with the following News/Video...
Bossier City Prepares for a More Than 85 Million Dollar Paycheck.
* UPDATE *
Friday, July 25, 2008
...
* KTBS had this News/Video posted on their site today and it starts off like this... The Bossier City Council this morning voted to put the mineral rights for all of the city's 3,300 acres of public property up for bid...
Click out the rest at link below...
Bossier council approves energy leases for city property
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* KTAL reports it this way with the following News/Video...
Bossier City Prepares for a More Than 85 Million Dollar Paycheck.
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* UPDATE *
Saturday, July 26, 2008
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* The PXP website has this older but still informative post up from July 1st and it starts off like this...
CHESAPEAKE AND PXP ANNOUNCE HAYNESVILLE SHALE JOINT VENTURE
* UPDATE *
Saturday, July 26, 2008
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* The PXP website has this older but still informative post up from July 1st and it starts off like this...
CHESAPEAKE AND PXP ANNOUNCE HAYNESVILLE SHALE JOINT VENTURE
OKLAHOMA CITY, OK AND HOUSTON, TX, JULY 1, 2008 – Chesapeake Energy Corporation (NYSE:CHK) and Plains Exploration & Production Company (NYSE:PXP) (“PXP”) today announced they have entered into a Haynesville Shale joint venture (the “JV”) in North Louisiana and East Texas...
PXP has agreed to acquire a 20% interest in Chesapeake’s Haynesville Shale leasehold as of June 30, 2008 for $1.65 billion in cash. In addition, PXP has agreed to fund 50% of Chesapeake’s 80% share of drilling and completion costs for future Haynesville Shale JV wells over a several year period until an additional $1.65 billion has been paid. Chesapeake estimates that its Haynesville leasehold as of June 30, 2008 was approximately 550,000 net acres. As a result of the transaction, PXP will hold approximately 110,000 net acres of this leasehold and Chesapeake will hold approximately 440,000 net acres. Chesapeake plans to continue acquiring leasehold in the Haynesville Shale play and PXP will have the right to a 20% participation in any such additional leasehold.
The companies currently plan to develop the Haynesville Shale using 80 acre spacing, which could support the drilling of up to 6,875 horizontal wells on the leasehold.
Assuming that per well estimated ultimate reserves (EUR) average between 4.5 and 8.5 billion cubic feet of natural gas equivalent (bcfe), the companies’ present Haynesville Shale leasehold could hold net unrisked unproved reserve potential of 23-44 trillion cubic feet of natural gas equivalent (after deducting an assumed average royalty burden of 25%). Chesapeake is currently utilizing five operated rigs in the Haynesville Shale play and anticipates operating at least 12 rigs by year-end 2008, at least 30 rigs by year-end 2009 and up to 60 rigs by year-end 2010. Under this planned rig allocation, the companies anticipate drilling at least 600 wells over the next three years...
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* UPDATE *
Sunday, July 27, 2008
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* The Shreveport Times website has a run of stories on the Haynesville Shale this Sunday morning...
Click them out at links below...
> Horizontal drilling makes Haynesville Shale profitable
> All aboard for innovation, conservation
> Bossier City seeks mineral rights bids
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* UPDATE *
Sunday, July 27, 2008
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* The Shreveport Times website has a run of stories on the Haynesville Shale this Sunday morning...
Click them out at links below...
> Horizontal drilling makes Haynesville Shale profitable
> All aboard for innovation, conservation
> Bossier City seeks mineral rights bids
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NOTE: This is the last update on this post.
My NEW updated post is at link below...
#12 Haynesville Shale Updates - Monday, July 28, 2008
My NEW updated post is at link below...
#12 Haynesville Shale Updates - Monday, July 28, 2008
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* Gas Leases - You’re sitting on a Gas MineThis link is full of info you need to know before signing an Oil/Gas Lease Contract
Click it out at link below...
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Past Post:
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> Sunday, May 4, 2008...
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> Sunday, May 11, 2008...
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> Thursday, May 15, 2008...
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> Wednesday, May 21, 2008...
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> Thursday, May 29, 2008...
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> Thursday, June 5, 2008...
> Thursday, June 5, 2008...
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AubreyJ.........
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AubreyJ.........
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