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.
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Showing posts with label mnlu. Show all posts
Showing posts with label mnlu. Show all posts
Monday, March 16, 2009
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
Wednesday, September 10, 2008
Haynesville Shale in Mississippi? MNLU drilling Mississippi Salt Basin
Is the Haynesville Shale located in Mississippi? One company, Mainland Resources ( MNLU ) is about to find out whether Mississippi holds any nautral gas in the Mississippi Interior Salt Basin.
MNLU has signed a Letter Agreement to acquire 5000 net acres in Mississippi where the Company plans to drill the first test well to evaluate the potential Haynesville Shale gas formation in the region.
Under the terms of the Letter Agreement, Mainland Resources, Inc. will acquire 100% Working Interest and 75% Net Revenue Interest on all gas formations within the 5000 net acres ("the leases"), which are located in southwestern Mississippi within the Mississippi Interior Salt Basin.
A number of USGS and US Department of Energy resource assessments have been commissioned over this area over the last decade. All report the deep gas potential of the area, pointing to the Upper Jurassic as a favorable exploration target. According to public records, no wells have been drilled to test the Haynesville Shale formation in the target region to date.
Company President Mike Newport states, "We have data that suggests the potential Haynesville Shale in this region could be similar in nature to the gas bearing Haynesville Shale in northwest Louisiana. Our geological team believes that this could be just as productive as the groundwork that's been laid in the Louisiana play."
"No one knew just how good the deep shale in northwest Louisiana was until an exploration company stepped up and drilled the Haynesville, Hosston and Cotton Valley formations. That's what we're setting up to do in this potential new Haynesville shale play in Mississippi," adds Newport.
The Letter Agreement for the acquisition of the Leases is set for closing on or before October 15, 2008 and is subject to standard due diligence review by Mainland Resources, Inc.
MNLU has signed a Letter Agreement to acquire 5000 net acres in Mississippi where the Company plans to drill the first test well to evaluate the potential Haynesville Shale gas formation in the region.
Under the terms of the Letter Agreement, Mainland Resources, Inc. will acquire 100% Working Interest and 75% Net Revenue Interest on all gas formations within the 5000 net acres ("the leases"), which are located in southwestern Mississippi within the Mississippi Interior Salt Basin.
A number of USGS and US Department of Energy resource assessments have been commissioned over this area over the last decade. All report the deep gas potential of the area, pointing to the Upper Jurassic as a favorable exploration target. According to public records, no wells have been drilled to test the Haynesville Shale formation in the target region to date.
Company President Mike Newport states, "We have data that suggests the potential Haynesville Shale in this region could be similar in nature to the gas bearing Haynesville Shale in northwest Louisiana. Our geological team believes that this could be just as productive as the groundwork that's been laid in the Louisiana play."
"No one knew just how good the deep shale in northwest Louisiana was until an exploration company stepped up and drilled the Haynesville, Hosston and Cotton Valley formations. That's what we're setting up to do in this potential new Haynesville shale play in Mississippi," adds Newport.
The Letter Agreement for the acquisition of the Leases is set for closing on or before October 15, 2008 and is subject to standard due diligence review by Mainland Resources, Inc.
Tuesday, August 5, 2008
Haynesville Shale - PetroHawk ( HK ) signs deal
This morning we have news out of PetroHawk Energy ( HK ) and Mainland Resources ( MNLU ) regarding the Haynesville Shale. These two companies will be apart of a joint venture in the Louisiana Shale deposit known as the Haynesville Shale.
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.
Under the terms of the Definitive Agreement, Petrohawk agrees to pay 100% of the costs of development associated with the first well drilled below the Cotton Valley Formation, including drilling, completing and fracture stimulating, as well as costs up to and including pipeline connection. Petrohawk also agrees to pay 80% of all costs of the second well drilled on the Leases below the base of the Cotton Valley and Mainland agrees to pay 20% of the costs. For the third, and all subsequent wells drilled on the Leases below the base of the Cotton Valley Formation, Petrohawk will pay 60% and Mainland will pay 40%.
Mainland will immediately transfer 60% of its De Soto Parish leases to Petrohawk, but only as the Leases relate to all depths below the base of the Cotton Valley Formation, and specifically the Haynesville Shale. Mainland retains rights to all Cotton Valley and Hosston formation production on these Leases. Petrohawk agrees to gather and market Mainland's production from above the base of the Cotton Valley Formation, pursuant to a mutually acceptable agreement.
Full Article - http://biz.yahoo.com/prnews/080805/latu059.html?.v=101
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.
Under the terms of the Definitive Agreement, Petrohawk agrees to pay 100% of the costs of development associated with the first well drilled below the Cotton Valley Formation, including drilling, completing and fracture stimulating, as well as costs up to and including pipeline connection. Petrohawk also agrees to pay 80% of all costs of the second well drilled on the Leases below the base of the Cotton Valley and Mainland agrees to pay 20% of the costs. For the third, and all subsequent wells drilled on the Leases below the base of the Cotton Valley Formation, Petrohawk will pay 60% and Mainland will pay 40%.
Mainland will immediately transfer 60% of its De Soto Parish leases to Petrohawk, but only as the Leases relate to all depths below the base of the Cotton Valley Formation, and specifically the Haynesville Shale. Mainland retains rights to all Cotton Valley and Hosston formation production on these Leases. Petrohawk agrees to gather and market Mainland's production from above the base of the Cotton Valley Formation, pursuant to a mutually acceptable agreement.
Full Article - http://biz.yahoo.com/prnews/080805/latu059.html?.v=101
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