re: Helis Oil abandons fracking project in St. Tammany Parish

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There were 10 years of inflated oil prices that recently ended in the which companies had ample time to exploit the TMS if it were economical. Oil companies have known about that play since the 80's.

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Yes but not so much in the Florida parishes down dip region, due to its high break even price companies took the easier route in the north (Central la and ms) where it's shallower and a more predictable trend.

The down dip region is very thick and may contain very substantial deposits of good quality sand. When the TMS was deposited, this area was deep offshore and consisted mostly of turbidite deposits. These are very hit or miss. I'm sure Helis understood that and was banking on good sand and oil being downdip, but probably ran into thin deposits or dirty sand.

But nonetheless, like you said exploration should have been done when oil was $100+ per barrel. This play may very well be nearing it's end even with the large amounts of oil still left in it.