DeSoto Parish, LA: Haynesville Shale

By Andrea: http://oilshalegas.com

Chesapeake Energy Corp. (CHK) released an update on the Haynesville Shale during their 2Q 2010 Earnings Call. Chesapeake Energy completed the 3 following new wells in the Haynesville Shale:

-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

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Chesapeake Energy ( CHK ) News 10/10/08

Chesapeake Energy ( CHK ) just came out with major news that is sending its stock soaring in afterhours trading tonight.

Dow Jones is reporting:

• Chesapeake In Talks With 'Multiple Parties' On Midstream Ops Stake
• Chesapeake Energy CEO Involuntarily Sells All Shrs To Meet Margin Loan Calls
• Chesapeake: Further Cuts To 4Q CapEx Are Underway >CHK
• Chesapeake Energy ( CHK ) sells Marcellus Stake for 2.5- 3 Billion.

So Aubry got flushed out.....and now you can see why the stock got murdered over the past three weeks with the addition of Hedge Fund Selling.

Haynesville Shale - GDP Goodrich Petroleum Update

Goodrich Petroleum ( GDP ) has come out and given shareholders an update of their Haynesville Shale operations:

HAYNESVILLE SHALE ACTIVITY UPDATE

The Company has completed the T. Swiley No. 5 well in the northwest portion of the Minden field in Rusk County, Texas. The well is a vertical Haynesville Shale test with an initial production rate of 1,300 Mcf per day from approximately 150' of net Haynesville Shale pay. The well is the fourth vertical well the Company has drilled and tested in the Haynesville Shale formation in the Minden and Beckville fields in East Texas, where the Company maintains a 100% working interest in approximately 39,000 net acres. The Company's initial horizontal Haynesville Shale test in East Texas is planned for the fourth quarter of 2008.

In North Louisiana, the company has logged the Hall No. 9-1, which is the third vertical Haynesville Shale test in the Central Pine Island area of Caddo Parish, Louisiana. The Hall No. 9-1, in which the Company owns a 50% interest, logged approximately 315' of pay in the Haynesville Shale with excellent gas shows. Also in North Louisiana, in the Company's joint venture with Chesapeake Energy, the initial horizontal Haynesville Shale test in the Bethany-Longstreet field is planned to spud this week in northern DeSoto Parish, as well as an additional vertical Haynesville Shale test in the Longwood field in Caddo Parish. A second rig is planned to be added to the Chesapeake joint venture in October.

The Company currently expects to drill 16-18 (12-13 vertical and 4-5 horizontal) Haynesville Shale wells in East Texas/North Louisiana by the end of 2008.

Gil Goodrich, Goodrich's Vice Chairman and Chief Executive Officer commented, "The increase in proved reserves at mid-year further illustrates the success of our strategy to rapidly convert non-proven 2P and 3P reserves into the proven classification and increase proven net asset values. We are very pleased with our drilling results in the first half of this year adding approximately 75.5 Bcfe, including the 11.4 Bcfe of production replaced during the first six months of the year, on drilling and development capital expenditures of approximately $165 million. Our recent acreage acquisition in Nacogdoches County further expands our footprint in the Angelina River Trend where we have experienced continued success during 2008 for both the Travis Peak and James Lime formations. Finally, our nine vertical Haynesville Shale wells drilled to date, which have been strategically spaced across our 60,500 net acres in North Louisiana and East Texas, have significantly de-risked our core Haynesville Shale acreage. This positions us extremely well to begin the development and exploitation of the Shale with horizontal drilling, and we are excited to begin this aggressive horizontal Haynesville development in the next few weeks."

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