Friday, February 27, 2009

Marcellus Shale: Lycoming, PA 2009 SWN

Today, 2/27/09, Southwestern Energy ( SWN ) has announced that they have acquired acreage through mineral rights leasing in Pennsylvania regarding the Marcellus Shale.

In the first quarter of 2009, the company purchased approximately 21,715 net acres in Lycoming County, Pennsylvania, for approximately $8.2 million. As a result, Southwestern currently has approximately 137,000 net undeveloped acres in Pennsylvania under which it believes the Marcellus Shale is prospective.

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Tuesday, February 24, 2009

Utica Shale: Junex JNX 2009 Update - Natural Gas

Junex ( CVE: JNX ) has come out today, 2/24/09, and updated investors on the Utica Shale well they are drilling with partner Forest Oil ( FST ).

Forest drilled and completed the first three horizontal Utica Shale wells in Quebec's St. Lawrence Lowlands, which were successfully cased and fracture stimulated in four stages with rates ranging from 100 - 800 Mcf/d. Frac load flowback was incomplete due to the lack of coiled tubing units in the area. Forest expects to continue to test its wells after the winter season is over. Although sustained rates were not as high as anticipated, the tests have allowed Forest to identify the section of the shale it intends to target in future test wells. Each of the wells were tested in different sections of the Utica Shale with an objective of gathering data on productivity to allow optimization of future completions. Furthermore, Forest proved the ability to successfully drill the wells horizontally and pump multi-stage slickwater frac jobs without major operational issues."

"We are quite excited that our partner is perseverant in its efforts and remains committed to the Utica Shale Gas project. The three wells drilled in 2008 are the first horizontal wells to be drilled and fracture stimulated in the Utica Shale in Quebec. Considering that the Lowlands shale gas play is at its earliest stage of development, we fully expect to learn and build upon the results from these few first wells to develop the best drilling and completion recipes for the Utica Shale" said Junex's president, Mr. Jean-Yves Lavoie, P. Eng. "Furthermore, the results of the Champlain #1H horizontal well, coupled with the results of Junex's St-Augustin-de-Desmaures #1 well drilled near Quebec City last year, demonstrate the shale gas potential of Junex's 100%-held north shore acreage along the pipeline corridor between the two areas."

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Monday, February 23, 2009

Haynesville Shale: DeSoto Parish 2009 Update

St Mary Land and Exploration ( SM ) has come out with an operational update on their first Haynesville Shale well drilled in Desoto Parish Louisiana.

In the Haynesville shale, St. Mary has reached total depth on it first operated horizontal Haynesville well. The Johnson Trust 1-2 well (SM 90% WI), located in the Spider Field in De Soto Parish, Louisiana, was drilled to an approximate measured depth of 15,100 feet and has a lateral length of roughly 3,300 feet. The well is scheduled to be completed in early March due to a delay related to the sourcing of proppant after the Company revised its original stimulation design. St. Mary’s current completion design calls for a ten stage, slick water fracture stimulation using slightly under three million pounds of premium resin coated sand. The next planned well in the Haynesville is expected to be in Shelby County, Texas, where the Company has a sizable acreage position. St. Mary has approximately 50,000 net acres that are prospective for the Haynesville shale in East Texas and northern Louisiana.

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Thursday, February 19, 2009

Haynesville Shale: XTO Energy 2009 Panola County

XTO Energy has come out with earnings today, 2/19/09, and updated investors on its haynesville shale operations. XTO talks about its East Texas properties below.

From Seeking Alpa

We drilled first Haynesville shale well in western Panola County, the New Horizon's number one that came in at 8.5 million a day, that is not an IP, that well averaged over 8 million a day for the first 15 days. It's currently offline because of the DCP Cartage flat (ph) issue, should be back up next week.

We believe that well from the way we're choking and holding our performance would have made over 8 million a day for the first month. If you look at the Haynesville wells you are seeing some that have 15 million a day, first month, you are seeing a lot that are 45 million a day first month sales. So, I would say this well as far west as it is, averaging 8 million a day is a good precursor for where our acreage is going to be plenty good on the Texas side

And last but not least, we have had an extension area of south of Bald Prairie and Robertson County that we have been working on for two or three years, have increased our position here to almost 80,000 net acres and have started in earnest to drill development wells down there and had two wells coming at 6 million a day in the quarter from the land and Bossier and that gives us lot of hope and belief that area will pan out to be a major growth area, of course in future.

Thursday, February 5, 2009

Barnett Shale: Devon Energy DVN February 2009

Devon Energy came out with 4th Quarter earnings and gave an update on the Barnett Shale in Texas.

( From Seeking Alpha )

Moving now to our fourth quarter operating highlights, starting with the Barnett Shale field in North Texas, we are continuing running 23 Devon operated rigs compared with a peak of 39 rigs in the fourth quarter. This curtailment in activity is reflected in our average fourth quarter net production of 1.17 Bcf equivalent per day. This was up 4% over the third quarter and up 25% over the fourth quarter of 2007.

Looking forward in 2009, we plan to invest about 750 million of capital in the Barnett and drill over 200 operated wells. We plan to decrease the number of operated rigs to 8 and we'll focus primarily on the continuing success of our 1000 foot and 500 foot offset infill programs.

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Tuesday, February 3, 2009

Haynesville Shale: Desoto Parish Well 2009

Mainland Resources ( MNLU ) has come out and reported a huge Natural Gas well result today, February 3, 2009. MNLU is announcing that their first Haynesville Shale well is hitting 23.3 mmcfe in the DeSoto Parish area.

Mainland Resources ( MNLU ) reports that the Company and its operator have placed the Griffith 11 #1 well in DeSoto Parish, Louisiana on production. The Griffith 11 #1(Section 11, 13N, 14W) had an initial production rate of 23.3 Mmcfe/d on a 28/64” choke with 7,550# flowing casing pressure. The Griffith 11 #1 is the first well to be drilled with the Company’s operator in the Haynesville shale on its leases. Mainland owns a 40% Working Interest in this well and all subsequent Haynesville wells to be drilled on its leases. Mainland Resources is also formalizing plans to drill and complete in the Hosston/Cotton Valley formations on its Louisiana property.

The Company received a Reserve Report in December 2008 that shows Proved Undeveloped Reserves of 2.143 Bcf in these formations from a single future twin to the current well. This estimate is based on 40-acre well spacing. Mainland holds a 100% Working Interest in all rights above the base of the Cotton Valley formation, including the Hosston, in 2,695 net acres. Company President, Mike Newport states, “We have validated our model to drill to the Haynesville shale on our DeSoto Parish leases and have our first producing Haynesville gas well on line. Our commitment now is to use this success across the entire project so that Mainland gets the maximum value from its unique position in this major gas play."

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Marcellus Shale: Anadarko APC Marcellus Shale Update

Anadarko Petroleum ( APC ) came out with earnings 2/2/09 and reported an update on the Marcellus Shale:

In 2008, Anadarko’s U.S. onshore exploration program continued to show positive results in
the Marcellus, Haynesville and Maverick Basin shale plays. The company completed its first Marcellus Shale horizontal well, testing approximately 4.5 million cubic feet of natural gas per day. A second horizontal test is currently being completed with two additional tests in various stages of drilling.

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