Cotton Valley & Haynesville Shale Discoveries 10/02/08

Southern Star Energy came out with the following news on a new Cotton Valley Formation discovery. They will also be drilling down into the Haynesville Shale.


Southern Star Energy Inc. (OTC Bulletin Board: SSEY - News; the "Company"), a fast-growing E&P company with reserves and production from leases located in northern Louisiana, today announced that it has successfully drilled and logged the targeted Cotton Valley interval in its Atkins-Lincoln 17-2 Well with positive results. The well reached planned intermediate pipe depth of 9,500 feet on September 26, 2008. Subsequent to logging the Cotton Valley and shallower horizons, 7-inch casing was set at 9,500 feet and the well is drilling ahead to test the Haynesville Shale at a planned total depth of 11,000 feet. This well is strategically located in the center section of the Company's Sentell Field in Bossier Parish, Louisiana. The Atkins-Lincoln 17-2 is the second well in the Company's 2008 development program and the first of two Haynesville Shale vertical test wells in the Sentell Field planned this year.

Full Article Here

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Haynesville Shale: ( HK ) PetroHawk Energy Update 10/02/08

Like Chesapeake Energy ( CHK ), Petrohawk Energy ( HK ) reduces capital budget for 2009 as energy prices decline. Petrohawk plans to focus more on the Haynesville Shale & the Fayetteville Shale.

The reallocation of capital reflects an increased emphasis on development of non-proved locations in Petrohawk's successful Haynesville and Fayetteville Shale projects, with the benefit of higher expected overall reserve growth potential for the Company. Petrohawk's production guidance for 2009 represents 25% to 35% drillbit growth over 2008 estimated annual production of 305 million cubic feet of natural gas equivalent per day (Mmfe/d).

http://www.petrohawk.com/news/default.aspx?id=1204163

For more on the shale plays in the USA and Canada...visit www.oilshalegas.com

Haynesville Shale: Penn Virginia ( PVA ) Update 10/02/08

Penn Virginia ( PVA ) came out today and gave operational guidance specifically on the Haynesville Shale.

A. James Dearlove, President and Chief Executive Officer of PVA, commented, "In spite of the reduced guidance levels for 2008, our growth strategy remains intact in all of our significant resource plays. The reduced 2008 guidance is largely the result of a number of unanticipated circumstances, including the effects of two hurricanes which impacted our largest producing region in East Texas. In addition, we are accelerating the transition from an exclusive vertical Cotton Valley development program in East Texas, which was supported by six drilling rigs at the beginning of 2008, to the current combination of four to five rigs drilling horizontal Lower Bossier (Haynesville) Shale wells and two to three rigs drilling vertical Cotton Valley wells. The near-term effect of this transition is a delay of production contributions from the horizontal shale drilling program, which has much longer spud-to-production lead time relative to vertical Cotton Valley wells. Even though this decision has affected near-term production growth, the benefits of expected superior economic returns and accelerated long-term production growth favor this approach, as reflected in our preliminary 2009 guidance.”

http://biz.yahoo.com/bw/081002/20081002006238.html?.v=1

For more on companies drilling in the Haynesville Shale and other shale plays, visit http://oilshalegas.com