Thursday, August 14, 2008

Haynesville Shale - Louisiana Lease Sale 2nd Highest Ever ( 93.8 million ) Caddo, Bossier, Bienville, De Soto Parish

Since the Louisiana Lease Board began keeping records back in 1969, there has only been one sale that was higher then the 93.8 million dollar sale yesterday 8-13-08. The Haynesville Shale is hot, that is all you can really say right now. The record? Year 1980 with a record 157.7 according to the LLB.

Companies have been flocking to the northwest Louisiana area in pursuit of mineral rights agreements so they may explore the Haynesville Shale for Natural Gas.

4,700 acres were sold in the following areas: Caddo, Bossier, Bienville, DeSoto and Red River.

Something tells me the Haynesville Shale is expanding rapidly. I even think the core area could be getting bigger. Heck, the CEO of Chesapeake Energy is on the record saying he believe one day down the road, the core zone area of the Haynesville shale could pay $50,000 per acre. Wow!