By Andrea: http://oilshalegas.com
According to a press release for Mexco Energy, not only has the Haynesville shale area been estimated to become the largest gas resource in the U.S. and the fourth largest in the world, DeSoto Parish, Louisiana has been recognized as one of the top six parishes in Louisiana where the most productive Haynesville wells are located. Among the companies operating in DeSoto Parish, LA, are Chesapeake Energy Corp. (CHK), Petrohawk Energy Corp. (HK) and Mexco Energy (MXC).
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxcTR4Yj
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label desoto parish. Show all posts
Showing posts with label desoto parish. Show all posts
Wednesday, August 18, 2010
DeSoto Parish, LA: Haynesville Shale
By Andrea: http://oilshalegas.com
Mexco Energy Corp. (MXC) announced that they are purchasing 5,120 acres in the Haynesville shale area of DeSoto Parish, LA. Among the operating companies on the land, include Petrohawk Energy Corp. (HK) and Chesapeake Energy Corp. (CHK). In addition to the 5 horizontal wells already operating on the land, there is an estimate of 59 addition drill sites. Press release below:
Mexco Energy Corporation (MXC) announced the purchase of overriding royalty interests in 5,120 gross acres covering eight sections in the Haynesville trend area of DeSoto Parish, Louisiana, for an approximate purchase price of $1.65 million, prior to closing adjustments. Mexco paid $1.46 million in cash and 26,833 shares of its Common Stock. The Company funded the cash portion of the purchase from working capital and primarily from its $5.0 million credit facility. The stock was issued from Mexco's treasury shares.
This acreage currently contains five (5) horizontal wells producing from the Haynesville Shale formation and operated by Petrohawk Operating Company which will operate six of the eight sections. The two remaining sections will be operated by Chesapeake Energy. The Company owns average overriding royalty interests of approximately .28%.
These 5,120 acres contain an additional 59 potential drill sites in the Haynesville Shale. Other wells drilled in the Haynesville area show the presence of at least two (2) other potential producing zones, the Bossier and Cotton Valley, which are held by production and available for development should conditions warrant. Hundreds of Haynesville, hundreds of Cotton Valley and several dozen Bossier Shale wells are currently producing in the Haynesville trend area. The development of these royalties is free to Mexco of expenses for drilling, development and operations.
The Haynesville area has been estimated to become the largest gas resource in the United States and the fourth largest in the world subject to realization of technical estimates, according to World Oil in its June 2010 edition. World Oil recognizes DeSoto Parish as one of the top six (6) parishes of Louisiana where the most productive Haynesville wells are located.
"This acquisition represents a significant addition of the natural gas reserves for Mexco and future development potential," said Nicholas C. Taylor, President and CEO of Mexco
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxXZBHCY
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Mexco Energy Corp. (MXC) announced that they are purchasing 5,120 acres in the Haynesville shale area of DeSoto Parish, LA. Among the operating companies on the land, include Petrohawk Energy Corp. (HK) and Chesapeake Energy Corp. (CHK). In addition to the 5 horizontal wells already operating on the land, there is an estimate of 59 addition drill sites. Press release below:
Mexco Energy Corporation (MXC) announced the purchase of overriding royalty interests in 5,120 gross acres covering eight sections in the Haynesville trend area of DeSoto Parish, Louisiana, for an approximate purchase price of $1.65 million, prior to closing adjustments. Mexco paid $1.46 million in cash and 26,833 shares of its Common Stock. The Company funded the cash portion of the purchase from working capital and primarily from its $5.0 million credit facility. The stock was issued from Mexco's treasury shares.
This acreage currently contains five (5) horizontal wells producing from the Haynesville Shale formation and operated by Petrohawk Operating Company which will operate six of the eight sections. The two remaining sections will be operated by Chesapeake Energy. The Company owns average overriding royalty interests of approximately .28%.
These 5,120 acres contain an additional 59 potential drill sites in the Haynesville Shale. Other wells drilled in the Haynesville area show the presence of at least two (2) other potential producing zones, the Bossier and Cotton Valley, which are held by production and available for development should conditions warrant. Hundreds of Haynesville, hundreds of Cotton Valley and several dozen Bossier Shale wells are currently producing in the Haynesville trend area. The development of these royalties is free to Mexco of expenses for drilling, development and operations.
The Haynesville area has been estimated to become the largest gas resource in the United States and the fourth largest in the world subject to realization of technical estimates, according to World Oil in its June 2010 edition. World Oil recognizes DeSoto Parish as one of the top six (6) parishes of Louisiana where the most productive Haynesville wells are located.
"This acquisition represents a significant addition of the natural gas reserves for Mexco and future development potential," said Nicholas C. Taylor, President and CEO of Mexco
Read more: http://www.centredaily.com/2010/08/17/2156727/mexco-energy-corporation-announces.html#ixzz0wxXZBHCY
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Sunday, August 8, 2010
DeSoto Parish, LA: Haynesville Shale
By Andrea: http://oilshalegas.com
-The Sloan H-1 in DeSoto Parish, LA achieved a peak 24-hour rate of 22.2 mmcf per day;
-The Brasch Family H-1 in DeSoto Parish, LA achieved a peak 24-hour rate of 22.0 mmcf per day; and
-The Wren H-1 in DeSoto Parish, LA achieved a peak 24-hour rate of 21.6 mmcf per day.
For more shale updates visit: http://blackberrystocks.blogspot.com
For more updates on the stock market visit: http://daytradingstockblog.blogspot.com
Monday, March 16, 2009
Haynesville Shale March 16, 2009 3/16/09 - Update
This morning, 3/16/09, Mainland Resources ( MNLU ) has come out an updated investors on one of the wells they are drilling in the Haynesville Shale.
Mainland Resources ( MNLU ) reports that management has received detailed data readings from its Griffith 11 #1 well provided by the operator showing total well flow through March 10, 2009. The Griffith 11 #1 well located in Desoto Parish, Louisiana was completed and brought online in January 2009. The exact reading for total gas produced from the Haynesville shale and shipped to market through March 10, 2009 is reported at 568,856 MCF or .568 BCF.
Mainland Resources, Inc. holds a 40% working interest in the well and all future development in the Haynesville formation covering approximately 2695 net acres on its leases, which are located in northwest Louisiana.
The Haynesville Shale play is a new play less than one year old and there is limited data to work with to determine the decline rate for Haynesville Shale wells. The Company believes that the recoverable reserves for the Griffith well may ultimately be from 7.5 BCF to 15.81 BCF. The 15.81 BCF rate was determined by a reserve report for the Griffith #1 done by T.W. McQuire & Associates, Inc., prepared pursuant to U.S. Securities legislation. The ultimate recovery was determined by using a type curve that uses 80% decline for the first year, followed by 30% decline for the second year, 15% decline for the third year, and then a 10% decline over the remaining expected life of the well. This decline was derived from the Deutsche Bank report issued in 7/08 based on a study of various shale plays.
Mainland plans to participate in their second Haynesville well in Desoto Parish in May 2009. The third well on the Companys’ leases is on schedule to spud in August 2009.
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Mainland Resources ( MNLU ) reports that management has received detailed data readings from its Griffith 11 #1 well provided by the operator showing total well flow through March 10, 2009. The Griffith 11 #1 well located in Desoto Parish, Louisiana was completed and brought online in January 2009. The exact reading for total gas produced from the Haynesville shale and shipped to market through March 10, 2009 is reported at 568,856 MCF or .568 BCF.
Mainland Resources, Inc. holds a 40% working interest in the well and all future development in the Haynesville formation covering approximately 2695 net acres on its leases, which are located in northwest Louisiana.
The Haynesville Shale play is a new play less than one year old and there is limited data to work with to determine the decline rate for Haynesville Shale wells. The Company believes that the recoverable reserves for the Griffith well may ultimately be from 7.5 BCF to 15.81 BCF. The 15.81 BCF rate was determined by a reserve report for the Griffith #1 done by T.W. McQuire & Associates, Inc., prepared pursuant to U.S. Securities legislation. The ultimate recovery was determined by using a type curve that uses 80% decline for the first year, followed by 30% decline for the second year, 15% decline for the third year, and then a 10% decline over the remaining expected life of the well. This decline was derived from the Deutsche Bank report issued in 7/08 based on a study of various shale plays.
Mainland plans to participate in their second Haynesville well in Desoto Parish in May 2009. The third well on the Companys’ leases is on schedule to spud in August 2009.
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
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."
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
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."
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Monday, October 20, 2008
Haynesville Shale: Desoto Parish - Mainland Resources MNLU Spuds first Well 10/20/08
This morning, 10/20/08, Mainland Resources ( MNLU ) is out saying that they have spudded their first Haynesville Shale well in DeSoto Parish Louisiana.
Mainland Resources, Inc reports that its JV Partner
and operator has commenced drilling operations on the first JV well to evaluate potential
of the Haynesville Shale gas formation on Mainland’s Louisiana leases.
Mainland Resources, Inc. holds interest in approximately 2,695 net acres, which form
part of the East Holly Field in De Soto Parish, northwest Louisiana.
The Griffith No. 1-H well is the first well to be drilled on Mainland’s property based on
Company data and proximity to several vertical Haynesville wells waiting on completion,
two horizontal wells being drilled, and another Haynesville well recently permitted. The
JV Partner and operator will pay 100% of the costs of this first well drilled on Mainland’s
leases to earn 60% of the first well as part of its agreement with the Company.
Company President, Mike Newport states, “We are now drilling the first of what we
believe could potentially be many wells on our DeSoto Parish Leases. Management
expects that this new well will provide results showing the gas potential of the
Haynesville shale on our property.”
According to industry sources, the Haynesville Shale is now regarded as the 4th
largest natural gas field in North America, with the leading exploration company in the
play announcing it is projecting 52 BCF (Billion Cubic Feet) of recoverable gas per
section in the Haynesville fairway.
http://www.mainlandresources.com/pdf/MRI-NR-10-20-08.pdf
Full List of Haynesville Shale Companies and Stock Symbols:
http://www.oilshalegas.com/haynesvilleshalestocks.html
Mainland Resources, Inc reports that its JV Partner
and operator has commenced drilling operations on the first JV well to evaluate potential
of the Haynesville Shale gas formation on Mainland’s Louisiana leases.
Mainland Resources, Inc. holds interest in approximately 2,695 net acres, which form
part of the East Holly Field in De Soto Parish, northwest Louisiana.
The Griffith No. 1-H well is the first well to be drilled on Mainland’s property based on
Company data and proximity to several vertical Haynesville wells waiting on completion,
two horizontal wells being drilled, and another Haynesville well recently permitted. The
JV Partner and operator will pay 100% of the costs of this first well drilled on Mainland’s
leases to earn 60% of the first well as part of its agreement with the Company.
Company President, Mike Newport states, “We are now drilling the first of what we
believe could potentially be many wells on our DeSoto Parish Leases. Management
expects that this new well will provide results showing the gas potential of the
Haynesville shale on our property.”
According to industry sources, the Haynesville Shale is now regarded as the 4th
largest natural gas field in North America, with the leading exploration company in the
play announcing it is projecting 52 BCF (Billion Cubic Feet) of recoverable gas per
section in the Haynesville fairway.
http://www.mainlandresources.com/pdf/MRI-NR-10-20-08.pdf
Full List of Haynesville Shale Companies and Stock Symbols:
http://www.oilshalegas.com/haynesvilleshalestocks.html
Tuesday, October 14, 2008
Haynesville Shale: QBC Cubic Energy Looking to Sell 10/14/08
With crashing stock markets and energy prices....many companies are looking to get out of the shale plays lately. I had a feeling this was going to happen. It was almost like a bubble when every company and their mother was buying up mineral rights in the Haynesville Shale natural gas field.
Cubic Energy ( QBC ) announces today that due to ever increasing unsolicited interest in the Company's assets in North Louisiana, the Company has engaged RBC Richardson Barr Securities, Inc., an affiliate of Royal Bank of Canada Capital Markets ("RBC") to explore all strategic alternatives on behalf of the Company and its shareholders. The Company's asset position in Caddo and DeSoto Parishes includes the Rodessa, Pettet, Upper and Lower Hosston, Cotton Valley and the Haynesville Shale. In addition, there is significant interest in the Company's gathering and pipeline systems.
As the Company now holds substantially all of its acreage by production, and has completed its own pipelines and infrastructure, the Company is afforded the opportunity to evaluate all its options in order to increase shareholder value.
Cubic Energy ( QBC ) announces today that due to ever increasing unsolicited interest in the Company's assets in North Louisiana, the Company has engaged RBC Richardson Barr Securities, Inc., an affiliate of Royal Bank of Canada Capital Markets ("RBC") to explore all strategic alternatives on behalf of the Company and its shareholders. The Company's asset position in Caddo and DeSoto Parishes includes the Rodessa, Pettet, Upper and Lower Hosston, Cotton Valley and the Haynesville Shale. In addition, there is significant interest in the Company's gathering and pipeline systems.
As the Company now holds substantially all of its acreage by production, and has completed its own pipelines and infrastructure, the Company is afforded the opportunity to evaluate all its options in order to increase shareholder value.
Subscribe to:
Posts (Atom)
