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Message
Helis Oil abandons fracking project in St. Tammany Parish
Posted on 9/20/16 at 10:52 am
Posted on 9/20/16 at 10:52 am
LINK
quote:
Helis Oil & Gas Co. is throwing in the towel on its controversial drilling operation in St. Tammany Parish. The company said Tuesday (Sept. 20) that after a lengthy review of geologic, engineering and other data from its exploratory well northeast of Mandeville, it will not proceed with a second phase involving hydraulic fracturing, or fracking.
"Helis has determined that the prospect lacks appropriate commercial viability, so the company will not pursue the project any further. Helis intends to permanently abandon the well and secure the site in accordance with regulatory requirements and its leases," spokesman Greg Beuerman said.
9
Posted on 9/20/16 at 10:54 am to WPBTiger
quote:
Helis Oil abandons fracking project in St. Tammany Parish
Good, we need to move drilling back out on the shelf.
Posted on 9/20/16 at 10:55 am to WPBTiger
(no message)
This post was edited on 6/28/19 at 10:11 am
Posted on 9/20/16 at 10:56 am to WPBTiger
I cannot believe they still drilled the well after the price decline and death of the TMS play in the last two years. They should have spent the money in a more profitable area and actually had a chance at commercial success unless they were looking at a Tuscaloosa sand and were disguising it as a TMS idea.
Posted on 9/20/16 at 10:56 am to tgrbaitn08
quote:
Good, we need to move drilling back out on the shelf.
That may not be happening soon either: LINK
Posted on 9/20/16 at 11:18 am to TigerDog83
Helis has more money than you think...
The drilling of the well had more to do with not allowing tree hugging environmentalists dicktate what a private landowner and energy producer can do as far as developing new prospects...good to see Helis not shy away from the drama.
The drilling of the well had more to do with not allowing tree hugging environmentalists dicktate what a private landowner and energy producer can do as far as developing new prospects...good to see Helis not shy away from the drama.
Posted on 9/20/16 at 11:25 am to KYINYOI
I was hoping for some good info out of this wildcat well, but didn't expect much.
The TMS may be a great play in the future if oil doesn't fall off due to demand for natural gas. TMS is pretty damn expensive especially in St. Tammany/Florida Parishes area from being extremely deep for onshore development and very discontinuous across the area.
If this play ever takes off it will be in two years or so, when the price of oil skyrockets due to company's lack of exploration today.
The TMS may be a great play in the future if oil doesn't fall off due to demand for natural gas. TMS is pretty damn expensive especially in St. Tammany/Florida Parishes area from being extremely deep for onshore development and very discontinuous across the area.
If this play ever takes off it will be in two years or so, when the price of oil skyrockets due to company's lack of exploration today.
Posted on 9/20/16 at 11:30 am to KYINYOI
quote:
The drilling of the well had more to do with not allowing tree hugging environmentalists dicktate what a private landowner and energy producer can do as far as developing new prospects
I highly doubt Helis was willing to spend around $10 million to drill, frack one stage, then P&A the well just to "get back" at tree hugging environmentalists.
Posted on 9/20/16 at 11:32 am to WPBTiger
Guess I have to put my truck nutz back into storage 
Posted on 9/20/16 at 11:36 am to WPBTiger
They already knew this, but wanted to set a precedent for the future.
Posted on 9/20/16 at 11:39 am to KYINYOI
quote:
The drilling of the well had more to do with not allowing tree hugging environmentalists dicktate what a private landowner and energy producer can do as far as developing new prospects
Boy, they sure showed them.
This post was edited on 9/20/16 at 11:40 am
Posted on 9/20/16 at 11:40 am to Tamer of beasts
quote:
I highly doubt Helis was willing to spend around $10 million to drill, frack one stage, then P&A the well just to "get back" at tree hugging environmentalists.
The state supreme court ruled in their favor....
That's a small price to pay.
Posted on 9/20/16 at 12:07 pm to Tamer of beasts
The Helis Estate is probably worth at least 1 Billion, 10mil to Kirschstein is peanuts...believe that.
Posted on 9/20/16 at 12:13 pm to WPBTiger
Jindal scaring off more businesses
Posted on 9/20/16 at 12:13 pm to KYINYOI
quote:
tree hugging environmentalists
It was much more than just those types.
quote:
what a private landowner and energy producer can do as far as developing new prospects...
Hurray for being able to set up a fracking operation virtually wherever you want? Hmm.
Posted on 9/20/16 at 12:15 pm to KYINYOI
quote:i remember my first billion.
The Helis Estate is probably worth at least 1 Billion, 10mil to Kirschstein is peanuts...believe that.
Posted on 9/20/16 at 12:24 pm to WPBTiger
quote:
Helis intends to permanently abandon the well and secure the site in accordance with regulatory requirements and its leases,"
They had better. We don't need any Molemen showing up and lowering the property values.
Posted on 9/20/16 at 12:45 pm to MadtownTiger
quote:
If this play ever takes off it will be in two years or so, when the price of oil skyrockets due to company's lack of exploration today.
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.
Posted on 9/20/16 at 1:12 pm to WPBTiger
Good.
Get that shite the frick out of here so we can make room for even more milfs.
Get that shite the frick out of here so we can make room for even more milfs.
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