Thursday, August 21, 2008

Haynesville Shale: ( CHK ) Chesapeake Energy - Bossier Parish

Bossier Parish Asks Questions About Shale!

The Bossier Police Jury got a chance to ask about the Haynesville Shale during its biweekly meeting Wednesday. Kevin McCotter, corporate development director for Chesapeake Energy Corp., stopped by for a brief question-and-answer session.

"Very soon, we'll see rigs in places you never thought possible," he told jurors after a presentation on Chesapeake Energy's activities in the area. The company soon will be even more active, "ramping up our operations so significantly in northwest Louisiana," he said.
Chesapeake Energy has about 550,000 acres of land under lease and about 10 rigs in the ground, McCotter said, adding the company expects 30 rigs in place in 2009 and 60 in 2010.
Chesapeake Energy representatives gave a brief PowerPoint presentation, showed a short video and even brought a basketball to illustrate how roughly one cubic foot of natural gas looks.
Jurors asked several questions, including where Chesapeake Energy will build its natural gas pipelines (several directions), how long it takes to drill down into the shale (about 50 days) and how effective the prototypes of natural gas-run cars could be (McCotter said he even is thinking about getting one).

The presentation was meant to be informative, and no formal action was taken. Bossier Parish's mineral rights will be put out to bid through the Louisiana Mineral Board in October.
The Police Jury took action on other matters Wednesday, including having a public hearing to consider adopting new Federal Emergency Management Agency flood maps for the parish and awarding bids for several small construction projects in the parish.

By Drew Pierson