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Haynesville Shale
Posted on 5/15/08 at 10:39 am
Posted on 5/15/08 at 10:39 am
Was up in Shreveport last week and the talk of the town was the Haynesville Shale gas discovery. Sounds like many folks are receiving large lease bonuses, some as large as $4000 an acre. I heard estimates of $1 billion in lease bonuses being paid over the next year. Will be a great boost to the economy up there.
here's an article on it from the independant: LINK
here's an article on it from the independant: LINK
This post was edited on 5/15/08 at 10:44 am
9
Posted on 5/15/08 at 10:42 am to DandyPimp
And the crap about how all the poor, uneducated landowners are being taken advantage of is already coming out.
Posted on 5/15/08 at 11:04 am to Bubba Hotep
Having interests with Chesapeake up here in a good bit of acreage, I can confirm it was Petrohawk who has escalated the acreage costs recently. Chesapeake had been quietly buying leases at reasonable prices before Petrohawk leaked news of Chesapeake's discovery resulting in this huge run up in costs for leases. Now The Shreveport Times is running their typical Marxist crap, badmouthing the very companies who are pouring money into people's pockets. The wells will be good wells, and will really pump lots of money into the local economy. Shreveport is officially a boomtown again. That is until our elected officials determine how to best embezzle lots of this money.
This post was edited on 5/15/08 at 11:05 am
Posted on 5/15/08 at 11:30 am to DandyPimp
There was also big news last week about the Tuscalousa Shale, the only oil producing shale in the United States. Encore Acquisitions announced that one of the three wells it has just west of the MS river hit. Shale production is the result of new technology which features horozonal drilling and fracking processes.
Posted on 5/15/08 at 1:17 pm to Herb
quote:
There was also big news last week about the Tuscalousa Shale, the only oil producing shale in the United States. Encore Acquisitions announced that one of the three wells it has just west of the MS river hit. Shale production is the result of new technology which features horozonal drilling and fracking processes.
I've known about the Tuscaloosa for some time. It is going to be an extremely challenging play for anyone to crack, much less an outfit like Encore. The wells supposedly cost them near 10 million to drill and complete, and with an intitial IP of 150-200 barrels a day these wells will have to get much cheaper before this comes close to being an economical play.
Posted on 5/15/08 at 1:18 pm to TigerDog83
And Herb, you might want to check out the Niobrara, Bakken, and Barnett Oil Shales (Barnett Oil leg is EOG's discovery). The TMS is definitely not the only producing oil shale out there.
Posted on 5/15/08 at 2:26 pm to TigerDog83
quote:
Petrohawk leaked news of Chesapeake's discovery
Why would Petrohawk leak the news of the discovery thus causing them and every other company to overspend for leases? These prices are going to put the small 2-3 man prospecting shops out of business because they will be unable to compete with the larger companies.
Posted on 5/15/08 at 3:19 pm to TigerV
quote:
Why would Petrohawk leak the news of the discovery thus causing them and every other company to overspend for leases? These prices are going to put the small 2-3 man prospecting shops out of business because they will be unable to compete with the larger companies.
They did it because Floyd Wilson (CEO of Petrohawk) is wanting to sell his company in the near future. By creating this frenzy, Petrohawk is now a more attractive candidate for a buyout. Wilson has been described as a "serial seller", and his last company he built was sold to Chesapeake several years ago.
Posted on 5/15/08 at 3:38 pm to TigerDog83
quote:They are all gas. TMS is the only oil producing shale in the U.S.
And Herb, you might want to check out the Niobrara, Bakken, and Barnett Oil Shales (Barnett Oil leg is EOG's discovery). The TMS is definitely not the only producing oil shale out there.
Also, the well cost 22 million (!). And, produces 250 per day. Supposedly they've figured out how to do it, so future wells will be much lower.
This post was edited on 5/15/08 at 3:41 pm
Posted on 5/15/08 at 3:59 pm to Herb
quote:
They are all gas. TMS is the only oil producing shale in the U.S.
BAKKEN OIL SHALE
BAKKEN OIL SHALE RESERVES
EOG BARNETT OIL PRODUCTION
The "Oil Leg" of the Barnett Shale is a new find by EOG resources in the Northwestern counties (Montague, Clay, and Archer) of the Barnett Play . The TMS is not the only producing oil shale.
Posted on 5/15/08 at 4:30 pm to TigerDog83
Petrohawk lives for being for sale. I guess my main question is why did Chesapeake feel a need to respond with a press release. Companies get information leaked all the time, but there is something called denial or just don't respond. Either way, the damage was done and now the race is on to acquire acreage and prove up reserves. It is going to an interesting rest of 2008 in the ArkLaTex region.
Posted on 5/15/08 at 4:49 pm to TigerV
quote:
Petrohawk lives for being for sale. I guess my main question is why did Chesapeake feel a need to respond with a press release. Companies get information leaked all the time, but there is something called denial or just don't respond. Either way, the damage was done and now the race is on to acquire acreage and prove up reserves. It is going to an interesting rest of 2008 in the ArkLaTex region.
I'm with you on that question. I think it is because these wells are that good (I have some knowledge as to why they think that). Also, Chesapeake always likes to promote their image, and maybe they thought they could outspend and "out-manpower" Petrohawk. Being up here involved with this whole deal, I can tell you that CHK is really adding additional acreage at an incredible pace. Just about every broker around is working for CHK.
Posted on 5/15/08 at 5:22 pm to TigerDog83
quote:You made your point. My information came from a presentation by Dan Collins, who is a land man for many years, that he made before the Realtors Land Institute last Friday. He stated that TMS is the only oil producing shale in the United States, and he had charts supporting same. Obviously, that's wrong.
The "Oil Leg" of the Barnett Shale is a new find by EOG resources in the Northwestern counties (Montague, Clay, and Archer) of the Barnett Play . The TMS is not the only producing oil shale.
Bakken and Barnett were shown as gas producing shale.
This post was edited on 5/15/08 at 5:24 pm
Posted on 5/15/08 at 6:55 pm to TigerDog83
I have a little bit of knowledge as to what is going on as well, and for one, things are tight up there right now. I was talking to Devon last week about their activity, and its like pulling teeth. There is also a lot of false information floating around. A lot of companies are making releases and creating rumors about other companies and watching there stock rise as a result. What I do know is that there is no question the play will work, the question is going to be identifying the limits of the economic production. This is why I do not see the justification for the high lease prices. The boundaries are not yet defined, and people are paying a lot of money for crap acreage.
Posted on 5/15/08 at 8:14 pm to Herb
quote:
They are all gas. TMS is the only oil producing shale in the U.S.
Errrr I have no idea where you are getting your info, but this is really really really wrong.
Update: Sorry, did not see your correction below... I could not believe what I was reading. Ride CHK to the top... best in the business IMHO
This post was edited on 5/15/08 at 8:16 pm
Posted on 5/15/08 at 8:20 pm to Herb
I am glad to see the evolution of the technology to allow exploitation of shale... I remember early in this decade when the Barnett plays were heating up, seeing the small pups (CRZO etc... double down on this area and hope... great stuff)
Posted on 5/15/08 at 10:11 pm to DandyPimp
I was paid ONLY $460/acre (206) 2 years ago in that area.
ETA : Sorry about that. My land is part of the Cotton Valley Shale.
ETA : Sorry about that. My land is part of the Cotton Valley Shale.
This post was edited on 6/5/08 at 8:24 pm
Posted on 5/16/08 at 6:43 am to TigerScratch
2 years ago, that was a GREAT price...
Posted on 5/16/08 at 8:56 am to TigerHeel 99
We've got interests with CHK and Samson under a lot of this stuff, so I can't relay any information, except that yes people are buying a bunch of crap acreage. Watch three years from now when a lot of this "fringe" acreage goes to smaller players in fire sales. I can tell you that there is no way this thing goes to Arkansas like some of the rumors are speculating. Also, I've already made close to $10 per share on Petrohawk stock and about the same on Chesapeake stock since February. It's probably still a good time to buy either one and sit for a while.
Posted on 5/16/08 at 9:41 am to TigerDog83
Where do you think the boundaries on economically profitable acreage on this formation lie?
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