By Andrea: http://oilshalegas.com
In the East Texas/North Louisiana region, Comstock Resources (CRK) has drilled 55 wells (33.6 net) in 2010. Fifty-four of the wells are Haynesville or Bossier shale wells. As of November 1, 2010, twenty-four of the 54 Haynesville or Bossier shale wells drilled in 2010 have been completed and were put on production at an average per well initial production rate of 10.8 MMcfe per day. Comstock expects to complete fourteen operated Haynesville or Bossier shale wells in the fourth quarter. In addition to its Haynesville shale horizontal drilling program, Comstock has drilled two vertical wells during 2010. Comstock successfully completed a Cotton Valley well in its Blocker field in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label bossier shale. Show all posts
Showing posts with label bossier shale. Show all posts
Thursday, January 6, 2011
Red River Parish, LA: Bossier Shale Update
By Andrea: http://oilshalegas.com
Forest Oil Corp. (FST) drilled and completed three wells in the third quarter of 2010. In order to optimize recovery from Haynesville / Bossier Shale wells, Forest has adopted a restricted flow rate production program. With this operating strategy, initial production rates from the last three wells were curtailed at 11 to 13 MMcfe/d. Results have shown that cumulative production from the restricted-rate wells has exceeded the cumulative production from comparable unrestricted wells after approximately 90 days. Further, early indications support expectations that estimated ultimate recoveries for restricted-rate wells should exceed recoveries for less restricted wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Forest Oil Corp. (FST) drilled and completed three wells in the third quarter of 2010. In order to optimize recovery from Haynesville / Bossier Shale wells, Forest has adopted a restricted flow rate production program. With this operating strategy, initial production rates from the last three wells were curtailed at 11 to 13 MMcfe/d. Results have shown that cumulative production from the restricted-rate wells has exceeded the cumulative production from comparable unrestricted wells after approximately 90 days. Further, early indications support expectations that estimated ultimate recoveries for restricted-rate wells should exceed recoveries for less restricted wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, January 5, 2011
Exxon Mobile Corp. (XOM) - Bossier Shale Update
By Andrea: http://oilshalegas.com
During the 3rd quarter of 2010, Exxon Mobile Corp. (XOM) finalized a merger agreement with Ellora Energy. This acquisition has increased our position in the attractive Haynesville/Bossier plays by 46,000 acres and added current production and pipeline capacity. In addition, our gas marketing team is working with XTO to optimize shipping, processing and marketing activities across our United States portfolio. We are also capturing reverse integration benefits in legacy Exxon Mobil operations both in the United States and overseas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
During the 3rd quarter of 2010, Exxon Mobile Corp. (XOM) finalized a merger agreement with Ellora Energy. This acquisition has increased our position in the attractive Haynesville/Bossier plays by 46,000 acres and added current production and pipeline capacity. In addition, our gas marketing team is working with XTO to optimize shipping, processing and marketing activities across our United States portfolio. We are also capturing reverse integration benefits in legacy Exxon Mobil operations both in the United States and overseas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, January 4, 2011
Exxon Mobile Corp. (XOM) - Haynesville Shale Update
By Andrea: http://oilshalegas.com
During the 3rd quarter of 2010, Exxon Mobile Corp. (XOM) finalized a merger agreement with Ellora Energy. This acquisition has increased our position in the attractive Haynesville/Bossier plays by 46,000 acres and added current production and pipeline capacity. In addition, our gas marketing team is working with XTO to optimize shipping, processing and marketing activities across our United States portfolio. We are also capturing reverse integration benefits in legacy Exxon Mobil operations both in the United States and overseas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
During the 3rd quarter of 2010, Exxon Mobile Corp. (XOM) finalized a merger agreement with Ellora Energy. This acquisition has increased our position in the attractive Haynesville/Bossier plays by 46,000 acres and added current production and pipeline capacity. In addition, our gas marketing team is working with XTO to optimize shipping, processing and marketing activities across our United States portfolio. We are also capturing reverse integration benefits in legacy Exxon Mobil operations both in the United States and overseas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources (CRK): Haynesville Shale Update
By Andrea: http://oilshalegas.com
In the East Texas/North Louisiana region, Comstock Resources (CRK) has drilled 55 wells (33.6 net) in 2010. Fifty-four of the wells are Haynesville or Bossier shale wells. As of November 1, 2010, twenty-four of the 54 Haynesville or Bossier shale wells drilled in 2010 have been completed and were put on production at an average per well initial production rate of 10.8 MMcfe per day. Comstock expects to complete fourteen operated Haynesville or Bossier shale wells in the fourth quarter. In addition to its Haynesville shale horizontal drilling program, Comstock has drilled two vertical wells during 2010. Comstock successfully completed a Cotton Valley well in its Blocker field in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
In the East Texas/North Louisiana region, Comstock Resources (CRK) has drilled 55 wells (33.6 net) in 2010. Fifty-four of the wells are Haynesville or Bossier shale wells. As of November 1, 2010, twenty-four of the 54 Haynesville or Bossier shale wells drilled in 2010 have been completed and were put on production at an average per well initial production rate of 10.8 MMcfe per day. Comstock expects to complete fourteen operated Haynesville or Bossier shale wells in the fourth quarter. In addition to its Haynesville shale horizontal drilling program, Comstock has drilled two vertical wells during 2010. Comstock successfully completed a Cotton Valley well in its Blocker field in East Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Red River Parish, LA: Haynesville Shale Update
By Andrea: http://oilshalegas.com
Forest Oil Corp. (FST) drilled and completed three wells in the third quarter of 2010. In order to optimize recovery from Haynesville / Bossier Shale wells, Forest has adopted a restricted flow rate production program. With this operating strategy, initial production rates from the last three wells were curtailed at 11 to 13 MMcfe/d. Results have shown that cumulative production from the restricted-rate wells has exceeded the cumulative production from comparable unrestricted wells after approximately 90 days. Further, early indications support expectations that estimated ultimate recoveries for restricted-rate wells should exceed recoveries for less restricted wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Forest Oil Corp. (FST) drilled and completed three wells in the third quarter of 2010. In order to optimize recovery from Haynesville / Bossier Shale wells, Forest has adopted a restricted flow rate production program. With this operating strategy, initial production rates from the last three wells were curtailed at 11 to 13 MMcfe/d. Results have shown that cumulative production from the restricted-rate wells has exceeded the cumulative production from comparable unrestricted wells after approximately 90 days. Further, early indications support expectations that estimated ultimate recoveries for restricted-rate wells should exceed recoveries for less restricted wells.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, December 30, 2010
Comstock Resources (CRK): Haynesville Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources, Inc. (CRK) recently released an operational update where they they announced the distribution of their 2011 budget for natural gas.
They announced that they plan to spend approximately $522.0 million in 2011 for development and exploration activities. The 2011 drilling program will focus on the continued development and delineation of its Haynesville shale and Bossier shale properties in North Louisiana and its Eagle Ford shale properties in South Texas. Comstock is currently utilizing six operated drilling rigs for its drilling activity. Five of the rigs are currently drilling Haynesville or Bossier shale wells and one is currently drilling the Company's fourth Eagle Ford shale well. Comstock plans to release one of these rigs during the first quarter of 2011 and plans on moving one of the Haynesville shale rigs to the Eagle Ford by the middle of 2011.
The 2011 budget includes $110.2 million for completion costs for 25 (21.6 net) Haynesville or Bossier shale wells that were drilled in 2010 but will be carried into 2011 for completion by the Company's dedicated frac crew which will be under contract for 2011. In addition to completing the 25 wells drilled in 2010, Comstock has budgeted to drill 67 (49.5 net) wells in 2011. All of the wells will be horizontal wells. Comstock has budgeted to drill 45 (27.5 net) Hayneville or Bossier shale wells in North Louisiana. The remaining twenty-two (22.0 net) wells will be drilled to develop the Company's Eagle Ford shale leases which were acquired this year.
Taking into account the planned 2011 drilling and completion activity, Comstock expects production in 2011 to approximate 85 to 90 Bcfe, a substantial increase over production in 2010. The 2011 drilling program is also expected to provide another year of strong reserve growth in 2011. The Eagle Ford drilling program will focus on the oil and condensate portion of the Eagle Ford shale play which will allow the Company to grow its oil, condensate and natural gas liquids production in 2011.
Comstock has a substantial amount of flexibility in implementing its drilling program in 2011. During the first half of 2011, the Company can release two of its drilling rigs without penalty in addition to the one that the Company plans to release in the first quarter. Comstock can also move additional drilling rigs from its Haynesville shale program to its Eagle Ford shale program. This flexibility allows the Company to reduce its capital expenditures in response to weaker natural gas prices or reallocate its budget toward oil or liquids rich projects in response to continued strong oil prices in relation to natural gas prices.
The Company's early results in the Eagle Ford shale have been encouraging. Additional results from the recently drilled wells and future drilling will govern the timing of deploying additional drilling rigs to Comstock's South Texas operations.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources, Inc. (CRK) recently released an operational update where they they announced the distribution of their 2011 budget for natural gas.
They announced that they plan to spend approximately $522.0 million in 2011 for development and exploration activities. The 2011 drilling program will focus on the continued development and delineation of its Haynesville shale and Bossier shale properties in North Louisiana and its Eagle Ford shale properties in South Texas. Comstock is currently utilizing six operated drilling rigs for its drilling activity. Five of the rigs are currently drilling Haynesville or Bossier shale wells and one is currently drilling the Company's fourth Eagle Ford shale well. Comstock plans to release one of these rigs during the first quarter of 2011 and plans on moving one of the Haynesville shale rigs to the Eagle Ford by the middle of 2011.
The 2011 budget includes $110.2 million for completion costs for 25 (21.6 net) Haynesville or Bossier shale wells that were drilled in 2010 but will be carried into 2011 for completion by the Company's dedicated frac crew which will be under contract for 2011. In addition to completing the 25 wells drilled in 2010, Comstock has budgeted to drill 67 (49.5 net) wells in 2011. All of the wells will be horizontal wells. Comstock has budgeted to drill 45 (27.5 net) Hayneville or Bossier shale wells in North Louisiana. The remaining twenty-two (22.0 net) wells will be drilled to develop the Company's Eagle Ford shale leases which were acquired this year.
Taking into account the planned 2011 drilling and completion activity, Comstock expects production in 2011 to approximate 85 to 90 Bcfe, a substantial increase over production in 2010. The 2011 drilling program is also expected to provide another year of strong reserve growth in 2011. The Eagle Ford drilling program will focus on the oil and condensate portion of the Eagle Ford shale play which will allow the Company to grow its oil, condensate and natural gas liquids production in 2011.
Comstock has a substantial amount of flexibility in implementing its drilling program in 2011. During the first half of 2011, the Company can release two of its drilling rigs without penalty in addition to the one that the Company plans to release in the first quarter. Comstock can also move additional drilling rigs from its Haynesville shale program to its Eagle Ford shale program. This flexibility allows the Company to reduce its capital expenditures in response to weaker natural gas prices or reallocate its budget toward oil or liquids rich projects in response to continued strong oil prices in relation to natural gas prices.
The Company's early results in the Eagle Ford shale have been encouraging. Additional results from the recently drilled wells and future drilling will govern the timing of deploying additional drilling rigs to Comstock's South Texas operations.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, December 28, 2010
Comstock Resources (CRK): Eagle Ford Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources, Inc. (CRK) recently released an operational update where they they announced the distribution of their 2011 budget for natural gas.
They announced that they plan to spend approximately $522.0 million in 2011 for development and exploration activities. The 2011 drilling program will focus on the continued development and delineation of its Haynesville shale and Bossier shale properties in North Louisiana and its Eagle Ford shale properties in South Texas. Comstock is currently utilizing six operated drilling rigs for its drilling activity. Five of the rigs are currently drilling Haynesville or Bossier shale wells and one is currently drilling the Company's fourth Eagle Ford shale well. Comstock plans to release one of these rigs during the first quarter of 2011 and plans on moving one of the Haynesville shale rigs to the Eagle Ford by the middle of 2011.
The 2011 budget includes $110.2 million for completion costs for 25 (21.6 net) Haynesville or Bossier shale wells that were drilled in 2010 but will be carried into 2011 for completion by the Company's dedicated frac crew which will be under contract for 2011. In addition to completing the 25 wells drilled in 2010, Comstock has budgeted to drill 67 (49.5 net) wells in 2011. All of the wells will be horizontal wells. Comstock has budgeted to drill 45 (27.5 net) Hayneville or Bossier shale wells in North Louisiana. The remaining twenty-two (22.0 net) wells will be drilled to develop the Company's Eagle Ford shale leases which were acquired this year.
Taking into account the planned 2011 drilling and completion activity, Comstock expects production in 2011 to approximate 85 to 90 Bcfe, a substantial increase over production in 2010. The 2011 drilling program is also expected to provide another year of strong reserve growth in 2011. The Eagle Ford drilling program will focus on the oil and condensate portion of the Eagle Ford shale play which will allow the Company to grow its oil, condensate and natural gas liquids production in 2011.
Comstock has a substantial amount of flexibility in implementing its drilling program in 2011. During the first half of 2011, the Company can release two of its drilling rigs without penalty in addition to the one that the Company plans to release in the first quarter. Comstock can also move additional drilling rigs from its Haynesville shale program to its Eagle Ford shale program. This flexibility allows the Company to reduce its capital expenditures in response to weaker natural gas prices or reallocate its budget toward oil or liquids rich projects in response to continued strong oil prices in relation to natural gas prices.
The Company's early results in the Eagle Ford shale have been encouraging. Additional results from the recently drilled wells and future drilling will govern the timing of deploying additional drilling rigs to Comstock's South Texas operations.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources, Inc. (CRK) recently released an operational update where they they announced the distribution of their 2011 budget for natural gas.
They announced that they plan to spend approximately $522.0 million in 2011 for development and exploration activities. The 2011 drilling program will focus on the continued development and delineation of its Haynesville shale and Bossier shale properties in North Louisiana and its Eagle Ford shale properties in South Texas. Comstock is currently utilizing six operated drilling rigs for its drilling activity. Five of the rigs are currently drilling Haynesville or Bossier shale wells and one is currently drilling the Company's fourth Eagle Ford shale well. Comstock plans to release one of these rigs during the first quarter of 2011 and plans on moving one of the Haynesville shale rigs to the Eagle Ford by the middle of 2011.
The 2011 budget includes $110.2 million for completion costs for 25 (21.6 net) Haynesville or Bossier shale wells that were drilled in 2010 but will be carried into 2011 for completion by the Company's dedicated frac crew which will be under contract for 2011. In addition to completing the 25 wells drilled in 2010, Comstock has budgeted to drill 67 (49.5 net) wells in 2011. All of the wells will be horizontal wells. Comstock has budgeted to drill 45 (27.5 net) Hayneville or Bossier shale wells in North Louisiana. The remaining twenty-two (22.0 net) wells will be drilled to develop the Company's Eagle Ford shale leases which were acquired this year.
Taking into account the planned 2011 drilling and completion activity, Comstock expects production in 2011 to approximate 85 to 90 Bcfe, a substantial increase over production in 2010. The 2011 drilling program is also expected to provide another year of strong reserve growth in 2011. The Eagle Ford drilling program will focus on the oil and condensate portion of the Eagle Ford shale play which will allow the Company to grow its oil, condensate and natural gas liquids production in 2011.
Comstock has a substantial amount of flexibility in implementing its drilling program in 2011. During the first half of 2011, the Company can release two of its drilling rigs without penalty in addition to the one that the Company plans to release in the first quarter. Comstock can also move additional drilling rigs from its Haynesville shale program to its Eagle Ford shale program. This flexibility allows the Company to reduce its capital expenditures in response to weaker natural gas prices or reallocate its budget toward oil or liquids rich projects in response to continued strong oil prices in relation to natural gas prices.
The Company's early results in the Eagle Ford shale have been encouraging. Additional results from the recently drilled wells and future drilling will govern the timing of deploying additional drilling rigs to Comstock's South Texas operations.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, December 27, 2010
Comstock Resources (CRK): Bossier Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources, Inc. (CRK) recently released an operational update where they they announced the distribution of their 2011 budget for natural gas.
They announced that they plan to spend approximately $522.0 million in 2011 for development and exploration activities. The 2011 drilling program will focus on the continued development and delineation of its Haynesville shale and Bossier shale properties in North Louisiana and its Eagle Ford shale properties in South Texas. Comstock is currently utilizing six operated drilling rigs for its drilling activity. Five of the rigs are currently drilling Haynesville or Bossier shale wells and one is currently drilling the Company's fourth Eagle Ford shale well. Comstock plans to release one of these rigs during the first quarter of 2011 and plans on moving one of the Haynesville shale rigs to the Eagle Ford by the middle of 2011.
The 2011 budget includes $110.2 million for completion costs for 25 (21.6 net) Haynesville or Bossier shale wells that were drilled in 2010 but will be carried into 2011 for completion by the Company's dedicated frac crew which will be under contract for 2011. In addition to completing the 25 wells drilled in 2010, Comstock has budgeted to drill 67 (49.5 net) wells in 2011. All of the wells will be horizontal wells. Comstock has budgeted to drill 45 (27.5 net) Hayneville or Bossier shale wells in North Louisiana. The remaining twenty-two (22.0 net) wells will be drilled to develop the Company's Eagle Ford shale leases which were acquired this year.
Taking into account the planned 2011 drilling and completion activity, Comstock expects production in 2011 to approximate 85 to 90 Bcfe, a substantial increase over production in 2010. The 2011 drilling program is also expected to provide another year of strong reserve growth in 2011. The Eagle Ford drilling program will focus on the oil and condensate portion of the Eagle Ford shale play which will allow the Company to grow its oil, condensate and natural gas liquids production in 2011.
Comstock has a substantial amount of flexibility in implementing its drilling program in 2011. During the first half of 2011, the Company can release two of its drilling rigs without penalty in addition to the one that the Company plans to release in the first quarter. Comstock can also move additional drilling rigs from its Haynesville shale program to its Eagle Ford shale program. This flexibility allows the Company to reduce its capital expenditures in response to weaker natural gas prices or reallocate its budget toward oil or liquids rich projects in response to continued strong oil prices in relation to natural gas prices.
The Company's early results in the Eagle Ford shale have been encouraging. Additional results from the recently drilled wells and future drilling will govern the timing of deploying additional drilling rigs to Comstock's South Texas operations.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources, Inc. (CRK) recently released an operational update where they they announced the distribution of their 2011 budget for natural gas.
They announced that they plan to spend approximately $522.0 million in 2011 for development and exploration activities. The 2011 drilling program will focus on the continued development and delineation of its Haynesville shale and Bossier shale properties in North Louisiana and its Eagle Ford shale properties in South Texas. Comstock is currently utilizing six operated drilling rigs for its drilling activity. Five of the rigs are currently drilling Haynesville or Bossier shale wells and one is currently drilling the Company's fourth Eagle Ford shale well. Comstock plans to release one of these rigs during the first quarter of 2011 and plans on moving one of the Haynesville shale rigs to the Eagle Ford by the middle of 2011.
The 2011 budget includes $110.2 million for completion costs for 25 (21.6 net) Haynesville or Bossier shale wells that were drilled in 2010 but will be carried into 2011 for completion by the Company's dedicated frac crew which will be under contract for 2011. In addition to completing the 25 wells drilled in 2010, Comstock has budgeted to drill 67 (49.5 net) wells in 2011. All of the wells will be horizontal wells. Comstock has budgeted to drill 45 (27.5 net) Hayneville or Bossier shale wells in North Louisiana. The remaining twenty-two (22.0 net) wells will be drilled to develop the Company's Eagle Ford shale leases which were acquired this year.
Taking into account the planned 2011 drilling and completion activity, Comstock expects production in 2011 to approximate 85 to 90 Bcfe, a substantial increase over production in 2010. The 2011 drilling program is also expected to provide another year of strong reserve growth in 2011. The Eagle Ford drilling program will focus on the oil and condensate portion of the Eagle Ford shale play which will allow the Company to grow its oil, condensate and natural gas liquids production in 2011.
Comstock has a substantial amount of flexibility in implementing its drilling program in 2011. During the first half of 2011, the Company can release two of its drilling rigs without penalty in addition to the one that the Company plans to release in the first quarter. Comstock can also move additional drilling rigs from its Haynesville shale program to its Eagle Ford shale program. This flexibility allows the Company to reduce its capital expenditures in response to weaker natural gas prices or reallocate its budget toward oil or liquids rich projects in response to continued strong oil prices in relation to natural gas prices.
The Company's early results in the Eagle Ford shale have been encouraging. Additional results from the recently drilled wells and future drilling will govern the timing of deploying additional drilling rigs to Comstock's South Texas operations.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, December 22, 2010
Comstock Resources (CRK): Eagle Ford, Bossier and Haynesville Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources, Inc. (CRK) recently released announced that it plans to spend approximately $522.0 million in 2011 for development and exploration activities. The 2011 drilling program will focus on the continued development and delineation of its Haynesville shale and Bossier shale properties in North Louisiana and its Eagle Ford shale properties in South Texas. Comstock is currently utilizing six operated drilling rigs for its drilling activity. Five of the rigs are currently drilling Haynesville or Bossier shale wells and one is currently drilling the Company's fourth Eagle Ford shale well. Comstock plans to release one of these rigs during the first quarter of 2011 and plans on moving one of the Haynesville shale rigs to the Eagle Ford by the middle of 2011.
The 2011 budget includes $110.2 million for completion costs for 25 (21.6 net) Haynesville or Bossier shale wells that were drilled in 2010 but will be carried into 2011 for completion by the Company's dedicated frac crew which will be under contract for 2011. In addition to completing the 25 wells drilled in 2010, Comstock has budgeted to drill 67 (49.5 net) wells in 2011. All of the wells will be horizontal wells. Comstock has budgeted to drill 45 (27.5 net) Hayneville or Bossier shale wells in North Louisiana. The remaining twenty-two (22.0 net) wells will be drilled to develop the Company's Eagle Ford shale leases which were acquired this year.
Taking into account the planned 2011 drilling and completion activity, Comstock expects production in 2011 to approximate 85 to 90 Bcfe, a substantial increase over production in 2010. The 2011 drilling program is also expected to provide another year of strong reserve growth in 2011. The Eagle Ford drilling program will focus on the oil and condensate portion of the Eagle Ford shale play which will allow the Company to grow its oil, condensate and natural gas liquids production in 2011.
Comstock has a substantial amount of flexibility in implementing its drilling program in 2011. During the first half of 2011, the Company can release two of its drilling rigs without penalty in addition to the one that the Company plans to release in the first quarter. Comstock can also move additional drilling rigs from its Haynesville shale program to its Eagle Ford shale program. This flexibility allows the Company to reduce its capital expenditures in response to weaker natural gas prices or reallocate its budget toward oil or liquids rich projects in response to continued strong oil prices in relation to natural gas prices.
The Company's early results in the Eagle Ford shale have been encouraging. Additional results from the recently drilled wells and future drilling will govern the timing of deploying additional drilling rigs to Comstock's South Texas operations.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources, Inc. (CRK) recently released announced that it plans to spend approximately $522.0 million in 2011 for development and exploration activities. The 2011 drilling program will focus on the continued development and delineation of its Haynesville shale and Bossier shale properties in North Louisiana and its Eagle Ford shale properties in South Texas. Comstock is currently utilizing six operated drilling rigs for its drilling activity. Five of the rigs are currently drilling Haynesville or Bossier shale wells and one is currently drilling the Company's fourth Eagle Ford shale well. Comstock plans to release one of these rigs during the first quarter of 2011 and plans on moving one of the Haynesville shale rigs to the Eagle Ford by the middle of 2011.
The 2011 budget includes $110.2 million for completion costs for 25 (21.6 net) Haynesville or Bossier shale wells that were drilled in 2010 but will be carried into 2011 for completion by the Company's dedicated frac crew which will be under contract for 2011. In addition to completing the 25 wells drilled in 2010, Comstock has budgeted to drill 67 (49.5 net) wells in 2011. All of the wells will be horizontal wells. Comstock has budgeted to drill 45 (27.5 net) Hayneville or Bossier shale wells in North Louisiana. The remaining twenty-two (22.0 net) wells will be drilled to develop the Company's Eagle Ford shale leases which were acquired this year.
Taking into account the planned 2011 drilling and completion activity, Comstock expects production in 2011 to approximate 85 to 90 Bcfe, a substantial increase over production in 2010. The 2011 drilling program is also expected to provide another year of strong reserve growth in 2011. The Eagle Ford drilling program will focus on the oil and condensate portion of the Eagle Ford shale play which will allow the Company to grow its oil, condensate and natural gas liquids production in 2011.
Comstock has a substantial amount of flexibility in implementing its drilling program in 2011. During the first half of 2011, the Company can release two of its drilling rigs without penalty in addition to the one that the Company plans to release in the first quarter. Comstock can also move additional drilling rigs from its Haynesville shale program to its Eagle Ford shale program. This flexibility allows the Company to reduce its capital expenditures in response to weaker natural gas prices or reallocate its budget toward oil or liquids rich projects in response to continued strong oil prices in relation to natural gas prices.
The Company's early results in the Eagle Ford shale have been encouraging. Additional results from the recently drilled wells and future drilling will govern the timing of deploying additional drilling rigs to Comstock's South Texas operations.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, October 28, 2010
Comstock Resources, Inc. (CRK): Bossier Shale Update
By Andrea: http://oilshalegas.com
Comstock Resources, Inc. (CRK) today provided an update on the Bossier Shale located in North Louisiana:
As was previously reported with the Company's second quarter operating results, Comstock has been experiencing significant delays in completing its Haynesville or Bossier shale wells due to the limited availability of high pressure pumping services. On September 30, 2010 the Company has 26 Haynesville or Bossier shale wells drilled and waiting on completion. Going forward, Comstock has been successful in obtaining pressure pumping and other related services which will allow it to frac 14 wells before the end of the year. With six operated rigs drilling in the Haynesville and Bossier shale, Comstock expects to drill another ten wells in the fourth quarter giving the Company an estimated 22 wells to carry over into 2011 for completion. In response to the weak natural gas prices, Comstock plans to release one of the six rigs in November and is considering moving an additional rig to South Texas to be utilized in its Eagle Ford shale drilling program in 2011.
Comstock also announced today that the Company has entered into an agreement with a major service provider to provide the Company with a dedicated frac crew for its North Louisiana operations in early 2011. The dedicated crew will allow the Company to complete its backlog of Haynesville and Bossier shale wells during 2011 as well as keep current with the Company's 2011 anticipated drilling activity. In addition, Comstock is in the process of finalizing agreements for completion services for its 2010 and anticipated 2011 Eagle Ford shale drilling program in South Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Comstock Resources, Inc. (CRK) today provided an update on the Bossier Shale located in North Louisiana:
As was previously reported with the Company's second quarter operating results, Comstock has been experiencing significant delays in completing its Haynesville or Bossier shale wells due to the limited availability of high pressure pumping services. On September 30, 2010 the Company has 26 Haynesville or Bossier shale wells drilled and waiting on completion. Going forward, Comstock has been successful in obtaining pressure pumping and other related services which will allow it to frac 14 wells before the end of the year. With six operated rigs drilling in the Haynesville and Bossier shale, Comstock expects to drill another ten wells in the fourth quarter giving the Company an estimated 22 wells to carry over into 2011 for completion. In response to the weak natural gas prices, Comstock plans to release one of the six rigs in November and is considering moving an additional rig to South Texas to be utilized in its Eagle Ford shale drilling program in 2011.
Comstock also announced today that the Company has entered into an agreement with a major service provider to provide the Company with a dedicated frac crew for its North Louisiana operations in early 2011. The dedicated crew will allow the Company to complete its backlog of Haynesville and Bossier shale wells during 2011 as well as keep current with the Company's 2011 anticipated drilling activity. In addition, Comstock is in the process of finalizing agreements for completion services for its 2010 and anticipated 2011 Eagle Ford shale drilling program in South Texas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Friday, August 20, 2010
San Augustine County, TX: Bossier Shale Update: Crimson Exploration
By Andrea: http://oilshalegas.com
In San Augustine County, Crimson Exploration Inc. (CXPO) successfully completed its first operated well in the Bruin Prospect Area. The Grizzly #1 (55% WI) was drilled to a measured depth of 18,100 feet with an approximate 4,200-foot horizontal lateral in the Mid Bossier Shale and was completed with 14 frac stages. The Grizzly #1 continues to clean up and is currently producing at a gross restricted rate of approximately 11.5 MMcfd on a 16/64" choke with around 9,100 psi flowing casing pressure.
Mr. Allan D. Keel, Crimson's President and CEO, stated, "With the successful completion of the Grizzly #1 well, Crimson has validated the reserve potential of the Mid Bossier Shale in its Bruin Prospect Area." Mr. Keel went on to say "based on well performance, we could have flowed the Grizzly well at significantly higher rates but have decided to use industry-best practices for reservoir optimization to maximize ultimate recovery." With respect to the recent successes in the Schwarz #2 and Catherine Henderson A-7 wells, Mr. Keel said, "The successful execution of our Liberty County drilling program continues to provide Crimson with the production and cashflow base that allows us to continue our Haynesville and Eagle Ford Shale development as well as pursue additional growth opportunities within our deep inventory of lower risk, high quality conventional prospects."
The 11.5 MMcfd test rate on the Grizzly well is reflective of Crimson's strategy that restricting rate and pressure drawdown on Haynesville and Mid Bossier Shale wells increases the Estimated Ultimate Recovery (EUR), results in a shallower and more stable decline curve, and delays the need for costly compression. Crimson adopted this strategy based on the experience attained by other operators in this trend, core studies that substantiate the loss of fracture conductivity at higher initial drawdown rates, and service company studies that indicate potential pinching off of available reservoir at higher production rates. Data from wells produced at restricted rates in the trend suggest that although this methodology provides lower production in the first few months of flow, the cumulative production curve compared to higher rate wells crosses in less than a year with the restricted rate wells flowing at higher rates and pressures at the point they cross, substantiating the belief that EUR is benefited at little to no loss of present value.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, August 18, 2010
Liberty County, Texas: Bossier Shale Update: Crimson Exploration
By Andrea: http://oilshalegas.com
August 18, 2010: Crimson Exploration Co. (CXPO) announced today that they successfully completed the Schwarz #2 (65% WI) in the Lower Cook Mountain sand at approximately 15,100 feet. The well is producing at a gross rate of 5.4 MMcfd and 120 Bcpd on a 12/64" choke with flowing tubing pressure of 9,100 psi and has been flowing to sales for approximately one week. This well follows our recently announced Catherine Henderson A-7 well (66% WI) which has been producing since June at a rate of approximately 4.5 Mmcpd and 340 Bcpd. With the production additions from these two important wells, Crimson's current daily net production has increased to approximately 41 Mmcfepd.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
http://www.oilshalegas.com/bossiershale.html
August 18, 2010: Crimson Exploration Co. (CXPO) announced today that they successfully completed the Schwarz #2 (65% WI) in the Lower Cook Mountain sand at approximately 15,100 feet. The well is producing at a gross rate of 5.4 MMcfd and 120 Bcpd on a 12/64" choke with flowing tubing pressure of 9,100 psi and has been flowing to sales for approximately one week. This well follows our recently announced Catherine Henderson A-7 well (66% WI) which has been producing since June at a rate of approximately 4.5 Mmcpd and 340 Bcpd. With the production additions from these two important wells, Crimson's current daily net production has increased to approximately 41 Mmcfepd.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
http://www.oilshalegas.com/bossiershale.html
Saturday, August 14, 2010
San Augustine County, TX: Bossier Shale Update
By Andrea: http://oilshalegas.com
Devon Energy Corp. (DVN) announced that they brought their first Bossier shale well online in the second quarter of 2010 with a 24-hour IP of about 8 million cubic feet per day.
Devon Energy engages in the exploration, development and production of natural gas and oil. They operate mainly in the mid-continent area of central and south United States. They also operate oil and gas properties in the provinces of Alberta, British Columbia and Saskatchewan, Canada.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Devon Energy Corp. (DVN) announced that they brought their first Bossier shale well online in the second quarter of 2010 with a 24-hour IP of about 8 million cubic feet per day.
Devon Energy engages in the exploration, development and production of natural gas and oil. They operate mainly in the mid-continent area of central and south United States. They also operate oil and gas properties in the provinces of Alberta, British Columbia and Saskatchewan, Canada.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, August 11, 2010
Bossier Shale update: Gastar Exploration Ltd. (GST)
By Andrea: http://oilshalegas.com
August 11, 2010: Gastar Exploration Ltd. (GST) announced today that the Streater #1 well was successfully drilled to a depth of 17,800 feet and encountered approximately 83 net feet of pay in the middle Bossier and upper Bossier formations. Gastar plans to complete the well in three initial zones and expects the first of these three initial completions to be on-line by the end of September. The Streater #1 well is projected to cost approximately $9.0 million including the cost of the initial three completions. Gastar has a 100% before payout working interest (approximately 76% before payout net revenue interest) in the Streater #1 well.
J. Russell Porter, Gastar's President and CEO, commented, "The Streater #1 well was drilled in the northern portion of Gastar's acreage and confirms that the middle and upper Bossier formations are productive across a large portion of Gastar's leasehold. Based on the results of the completion efforts on this well, Gastar will evaluate the drilling of additional middle Bossier wells, as well as the potential for horizontal wells within the upper Bossier formation."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Gastar Exploration Ltd. (GST) released and update on the middle-bossier shale today:
August 11, 2010: Gastar Exploration Ltd. (GST) announced today that the Streater #1 well was successfully drilled to a depth of 17,800 feet and encountered approximately 83 net feet of pay in the middle Bossier and upper Bossier formations. Gastar plans to complete the well in three initial zones and expects the first of these three initial completions to be on-line by the end of September. The Streater #1 well is projected to cost approximately $9.0 million including the cost of the initial three completions. Gastar has a 100% before payout working interest (approximately 76% before payout net revenue interest) in the Streater #1 well.
J. Russell Porter, Gastar's President and CEO, commented, "The Streater #1 well was drilled in the northern portion of Gastar's acreage and confirms that the middle and upper Bossier formations are productive across a large portion of Gastar's leasehold. Based on the results of the completion efforts on this well, Gastar will evaluate the drilling of additional middle Bossier wells, as well as the potential for horizontal wells within the upper Bossier formation."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, January 7, 2009
Bossier Shale: East Texas Gastar ( GST ) Hits Big!
Need more evidence that the Bossier Shale is better then the Haynesville Shale? Gastar Exploration ( GST ) came out and announced one of their Bossier Shale wells are hitting 23.0 MMCF per day of Natural Gas. This is an OUTSTANDING Well!
For those who aren't familiar with these shale plays around the USA and Canada, the Haynesville Shale is located in Louisiana and East Texas. Below the Haynesville Shale you have the Bossier Shale.
Gastar Exploration Ltd. (NYSE Alternext US:GST) and today announced that it has successfully completed its best producing well to date, the Belin #1, which was completed in two lower Bossier zones. The well is flowing at a combined initial gross sales rate of 41.2 MMcf/day on a 20/64ths inch choke with approximately 10,300 psi of flowing casing pressure. Gastar owns a 52% working interest before payout (40% net revenue interest before payout) in the Belin #1.
"The Belin #1 is our best producer to date, and based on the high quality of the reservoir rock and the strong initial production rate, we expect it will also be our best well to date in the Hilltop area in terms of estimated recoverable reserves," said J. Russell Porter, Gastar's President and CEO.
"To put this well into perspective, our biggest producer prior to the Belin #1 was the Wildman #3, which IP'ed at 23 MMcf/day. Comparing it against the entire play, we believe the Belin #1 is among the top ten best wells reported by any producer in any area of the Bossier," he added.
"The Belin #1 contains the highest porosity rock we have drilled to date, and we believe there is high-quality reservoir rock uphole from our initial lower completions that could allow us to maintain strong flow rates well into the future."
In addition, Gastar is currently drilling a sidetrack to the LOR #7 and expects to reach total depth in approximately 5 to 10 days. Gastar has a 50% working interest before payout (37.5% net revenue interest before payout) in the LOR #7.
http://www.gastar.com/releasedetail.cfm?ReleaseID=357440
http://blackberrystocks.blogspot.com/
For those who aren't familiar with these shale plays around the USA and Canada, the Haynesville Shale is located in Louisiana and East Texas. Below the Haynesville Shale you have the Bossier Shale.
Gastar Exploration Ltd. (NYSE Alternext US:GST) and today announced that it has successfully completed its best producing well to date, the Belin #1, which was completed in two lower Bossier zones. The well is flowing at a combined initial gross sales rate of 41.2 MMcf/day on a 20/64ths inch choke with approximately 10,300 psi of flowing casing pressure. Gastar owns a 52% working interest before payout (40% net revenue interest before payout) in the Belin #1.
"The Belin #1 is our best producer to date, and based on the high quality of the reservoir rock and the strong initial production rate, we expect it will also be our best well to date in the Hilltop area in terms of estimated recoverable reserves," said J. Russell Porter, Gastar's President and CEO.
"To put this well into perspective, our biggest producer prior to the Belin #1 was the Wildman #3, which IP'ed at 23 MMcf/day. Comparing it against the entire play, we believe the Belin #1 is among the top ten best wells reported by any producer in any area of the Bossier," he added.
"The Belin #1 contains the highest porosity rock we have drilled to date, and we believe there is high-quality reservoir rock uphole from our initial lower completions that could allow us to maintain strong flow rates well into the future."
In addition, Gastar is currently drilling a sidetrack to the LOR #7 and expects to reach total depth in approximately 5 to 10 days. Gastar has a 50% working interest before payout (37.5% net revenue interest before payout) in the LOR #7.
http://www.gastar.com/releasedetail.cfm?ReleaseID=357440
http://blackberrystocks.blogspot.com/
Monday, November 24, 2008
Haynesville Shale: GMXR First well Completed
GMX Resources ( GMXR ) announced last week that they have completed their first Haynesville Shale well.
GMX Resources Inc., (Nasdaq:GMXR) ("GMXR") (visit www.gmxresources.com to view the most recent Company presentation and for more information on the Company) today announced completion and initial production results for the Callison 9H, the Company's first Haynesville/Bossier Shale (H/B) horizontal well.
The Callison 9H (100% WI) located in the William Smith a21, Harrison County, Texas has the Company's shortest planned lateral of 2,200 feet. The well was placed on production November 20th and is currently producing at a stabilized rate of 7.7 mmcf/d, on a 22/64" choke with 5,200 pounds flowing casing pressure. The completion consisted of an eight stage fracture treatment. "We have budgeted 2009 based on a beginning production rate of 3.4 mmcf/d," stated Ken Kenworthy, CEO of the Company.
The Company is currently drilling two H/B horizontal wells. Completion of the Bosh 11H and the Baldwin 17H will take place 1Q09. A fourth H/B horizontal well is expected to spud within two weeks. Forty-five H/B horizontal wells are currently planned for 2009. The next 16 H/B horizontals are expected to average a 3,800 foot lateral and 11-12 stages of fracture treatments. The Company has previously forecasted 2009 production to be 30 Bcfe which is greater than 100% growth over 2008. The Company has 480 H/B horizontals to drill on 80 acre density, which includes the recently completed Callison 9H.
GMXR is a 'Pure Play', E & P Company and one of the most concentrated Haynesville / Bossier Shale Operator in East Texas. The Company has 435 BCFE in proved reserves (YE2007) and 3.2 TCFE in total 3P reserves that are 94% natural gas and consist of 480 net Haynesville /Bossier 80 acre horizontal locations and 318 gross / 180.9 net Cotton Valley ("CV") producers; 2,652 gross / 1,971 net CV un-drilled locations with a 100% drilling success rate. Five operated drilling rigs are currently developing this contiguous, multi-layer gas resource play on the Sabine Uplift; Carthage, North Field, in Panola & Harrison County of East Texas, and Caddo Parish of North Louisiana. The Company has invested $100 million in infrastructure which has contributed to 'Best in Class' finding and development costs. There are also 46 gross / 38 net Travis Peak/Hosston Sands & Pettit producers on the property. These multiple resource layers provide high probability and repeatable, organic growth. The Company, headquartered in Oklahoma City, Oklahoma, has interests in 386 gross / 235 net producing wells and operates 81% of its reserves. The Company's strategy is to grow shareholder value through Haynesville/Bossier Shale horizontal well development as well as Cotton Valley Sand vertical wells, to continue acreage acquisitions, to focus on operational growth around its core area, and to convert its natural gas reserves to proved, while maintaining balanced prudent financial management.
http://blackberrystocks.blogspot.com/
GMX Resources Inc., (Nasdaq:GMXR) ("GMXR") (visit www.gmxresources.com to view the most recent Company presentation and for more information on the Company) today announced completion and initial production results for the Callison 9H, the Company's first Haynesville/Bossier Shale (H/B) horizontal well.
The Callison 9H (100% WI) located in the William Smith a21, Harrison County, Texas has the Company's shortest planned lateral of 2,200 feet. The well was placed on production November 20th and is currently producing at a stabilized rate of 7.7 mmcf/d, on a 22/64" choke with 5,200 pounds flowing casing pressure. The completion consisted of an eight stage fracture treatment. "We have budgeted 2009 based on a beginning production rate of 3.4 mmcf/d," stated Ken Kenworthy, CEO of the Company.
The Company is currently drilling two H/B horizontal wells. Completion of the Bosh 11H and the Baldwin 17H will take place 1Q09. A fourth H/B horizontal well is expected to spud within two weeks. Forty-five H/B horizontal wells are currently planned for 2009. The next 16 H/B horizontals are expected to average a 3,800 foot lateral and 11-12 stages of fracture treatments. The Company has previously forecasted 2009 production to be 30 Bcfe which is greater than 100% growth over 2008. The Company has 480 H/B horizontals to drill on 80 acre density, which includes the recently completed Callison 9H.
GMXR is a 'Pure Play', E & P Company and one of the most concentrated Haynesville / Bossier Shale Operator in East Texas. The Company has 435 BCFE in proved reserves (YE2007) and 3.2 TCFE in total 3P reserves that are 94% natural gas and consist of 480 net Haynesville /Bossier 80 acre horizontal locations and 318 gross / 180.9 net Cotton Valley ("CV") producers; 2,652 gross / 1,971 net CV un-drilled locations with a 100% drilling success rate. Five operated drilling rigs are currently developing this contiguous, multi-layer gas resource play on the Sabine Uplift; Carthage, North Field, in Panola & Harrison County of East Texas, and Caddo Parish of North Louisiana. The Company has invested $100 million in infrastructure which has contributed to 'Best in Class' finding and development costs. There are also 46 gross / 38 net Travis Peak/Hosston Sands & Pettit producers on the property. These multiple resource layers provide high probability and repeatable, organic growth. The Company, headquartered in Oklahoma City, Oklahoma, has interests in 386 gross / 235 net producing wells and operates 81% of its reserves. The Company's strategy is to grow shareholder value through Haynesville/Bossier Shale horizontal well development as well as Cotton Valley Sand vertical wells, to continue acreage acquisitions, to focus on operational growth around its core area, and to convert its natural gas reserves to proved, while maintaining balanced prudent financial management.
http://blackberrystocks.blogspot.com/
Wednesday, November 19, 2008
Bossier Shale: Gastar East Texas Drilling Results
Gastar Exploration is out today, 11/19/08, updating investors on drilling results from their deep sand Bossier Shale wells. The Bossier Shale sits below the Haynesville Shale FYI.
Gastar Exploration Ltd. (NYSE GST) today announced that it has successfully drilled the Belin #1 well, a deep Bossier test, to a total depth of 18,800 feet and has logged approximately 150 net feet of pay in the middle and lower Bossier formations.
The Belin #1 well contains three pay zones within the lower Bossier formation that, based on log analysis, have the highest measured porosity -- up to 25% -- of any wells drilled by Gastar in the deep Bossier play. The well also encountered two middle Bossier sands, including the Lanier Sand, in a downdip location in a new fault block with indicated pay based on log analysis.
The well is expected to be completed and producing within 30 days. Gastar owns a 52% working interest before payout (40% net revenue interest before payout) in the Belin #1.
"The Belin #1 well has the potential to be Gastar's best well to date in terms of estimated recoverable reserves and potential flowrate in the Hilltop area," said J. Russell Porter, Gastar's President and CEO.
"We plan to complete the well in the two deepest zones first, and we expect that to be a high-rate completion. We are also very encouraged by the fact that the Lanier Sand was present and has been shown to be productive in a downthrown fault block from the Wildman Trust #3 well, where the Lanier Sand was recently recompleted at an initial rate of 21 MMcf per day."
In addition, Gastar is currently drilling a sidetrack to the LOR #7 and expects to reach total depth close to year end. Gastar has a 50% working interest before payout (37.5% net revenue interest before payout) in the LOR #7.
http://oilshalegas.com
Gastar Exploration Ltd. (NYSE GST) today announced that it has successfully drilled the Belin #1 well, a deep Bossier test, to a total depth of 18,800 feet and has logged approximately 150 net feet of pay in the middle and lower Bossier formations.
The Belin #1 well contains three pay zones within the lower Bossier formation that, based on log analysis, have the highest measured porosity -- up to 25% -- of any wells drilled by Gastar in the deep Bossier play. The well also encountered two middle Bossier sands, including the Lanier Sand, in a downdip location in a new fault block with indicated pay based on log analysis.
The well is expected to be completed and producing within 30 days. Gastar owns a 52% working interest before payout (40% net revenue interest before payout) in the Belin #1.
"The Belin #1 well has the potential to be Gastar's best well to date in terms of estimated recoverable reserves and potential flowrate in the Hilltop area," said J. Russell Porter, Gastar's President and CEO.
"We plan to complete the well in the two deepest zones first, and we expect that to be a high-rate completion. We are also very encouraged by the fact that the Lanier Sand was present and has been shown to be productive in a downthrown fault block from the Wildman Trust #3 well, where the Lanier Sand was recently recompleted at an initial rate of 21 MMcf per day."
In addition, Gastar is currently drilling a sidetrack to the LOR #7 and expects to reach total depth close to year end. Gastar has a 50% working interest before payout (37.5% net revenue interest before payout) in the LOR #7.
http://oilshalegas.com
Saturday, November 1, 2008
Haynesville Shale vs Bossier Shale - Cabot ( COG )
Cabot Oil & Gas ( COG ) had some interesting comments about the Bossier Shale and the Haynesville Shale on their latest conference call 10/30/08. They are basically comparing the two formations which are on top of each other. Please note: the Cotton Valley formation is on top of that.
This is a lengthy read but well worth it! In short, they think the Bossier Shale is better then the haynesville shale despite the haynesville getting more press.
From Seeking Alpha
David Heikkinen - Asking the Questions on the Conference Call
Basically just thinking about the Bossier versus the Haynesville and trying to frame up depositional environment and consistency in the Bossier shale as you move into your acreage, I know there isn't the Haynesville and County Line, but just trying to understand consistency and kind of properties? And then next on the Lime, normally it's too tight, so is there a cutoff as far as what you're seeing with the horizontal Lime well that you drilled, just trying to understand that too?
Dan Dinges - President & CEO giving the Answers
David, we have drilled numerous deep data points that are giving us Bossier/Haynesville shale information. We are seeing the Haynesville shale, you will extend overall of Cabot acreage. It is not as thick as we would see over in Louisiana. But the properties, the gas content, so on are the same. More importantly from our perspective is that we are seeing what we're calling the middle and upper Bossier as very thick, very gas charged. We are producing a well right now from the upper Bossier shale at nearly 3 million a day.
We talked about it earlier at Trawick at the last conference call that well is actually improving. We're confident that our horizontal Bossier shale which is in the middle Bossier interval is drilled in shale that is rich in silica and quartz and in carbonate, low in clay content. This shale should stimulate very effectively, probably better fract if the efficiency that you might see in the more play rich Haynesville shale.
And I think some of the anecdotal evidence that we've seen from some of the other operators suggests that this middle and upper Bossier which may not be getting the big press that we're seeing from Louisiana is going to be a significant contributor to the entire Bossier shale play in East Texas. So right now we're very optimistic on what we've seen so far both from rock properties in the Bossier and Haynesville shale as well as the production and test rates and gas contents that we've seen to-date.
David Heikkinen
So really, just trying to summarize you guys testing the Bossier and favoring it, it's really the economics of the Bossier because it's thicker and the Haynesville thinned out. It's not that you're not seeing Haynesville. It's just thinner so your economics are better in the Bossier on your acreage probably than they would be in the Haynesville?
Dan Dinges
Well, we have seen some data that suggests now from vertical wells and I think that these are horizontal plays, we have seen some data from vertical wells from the big thick Haynesville shale, big thick 200 feet thick or more that the initial rates after frac are not all that big. I mean a million a half a day.
So you can say that where we're drilling, although it is thinner, the similar type of rates had been established by up in the Minden area with a well that was drilled by the former operator of the property that was bought. So we think that there's still a lot of upside left in the Haynesville even though it is thinner over in the Minden area.
David Heikkinen
Okay. So maybe I'm reading too much into your decision to test the Bossier and the Lime first. It sounds like you're going to test the Haynesville on your acreage as well as beyond just the vertical well?
Dan Dinges
Absolutely we are.
David Heikkinen
So can you give any thicknesses as far as what the Haynesville and Bossier are on your acreage as you move to the South?
Dan Dinges
We're seeing the Bossier and we don't break it out into the so-called Haynesville. I don't buy the terminology. It's all Bossier. It's between 750 and 1000 feet thick and it's all gas charged.
This is a lengthy read but well worth it! In short, they think the Bossier Shale is better then the haynesville shale despite the haynesville getting more press.
From Seeking Alpha
David Heikkinen - Asking the Questions on the Conference Call
Basically just thinking about the Bossier versus the Haynesville and trying to frame up depositional environment and consistency in the Bossier shale as you move into your acreage, I know there isn't the Haynesville and County Line, but just trying to understand consistency and kind of properties? And then next on the Lime, normally it's too tight, so is there a cutoff as far as what you're seeing with the horizontal Lime well that you drilled, just trying to understand that too?
Dan Dinges - President & CEO giving the Answers
David, we have drilled numerous deep data points that are giving us Bossier/Haynesville shale information. We are seeing the Haynesville shale, you will extend overall of Cabot acreage. It is not as thick as we would see over in Louisiana. But the properties, the gas content, so on are the same. More importantly from our perspective is that we are seeing what we're calling the middle and upper Bossier as very thick, very gas charged. We are producing a well right now from the upper Bossier shale at nearly 3 million a day.
We talked about it earlier at Trawick at the last conference call that well is actually improving. We're confident that our horizontal Bossier shale which is in the middle Bossier interval is drilled in shale that is rich in silica and quartz and in carbonate, low in clay content. This shale should stimulate very effectively, probably better fract if the efficiency that you might see in the more play rich Haynesville shale.
And I think some of the anecdotal evidence that we've seen from some of the other operators suggests that this middle and upper Bossier which may not be getting the big press that we're seeing from Louisiana is going to be a significant contributor to the entire Bossier shale play in East Texas. So right now we're very optimistic on what we've seen so far both from rock properties in the Bossier and Haynesville shale as well as the production and test rates and gas contents that we've seen to-date.
David Heikkinen
So really, just trying to summarize you guys testing the Bossier and favoring it, it's really the economics of the Bossier because it's thicker and the Haynesville thinned out. It's not that you're not seeing Haynesville. It's just thinner so your economics are better in the Bossier on your acreage probably than they would be in the Haynesville?
Dan Dinges
Well, we have seen some data that suggests now from vertical wells and I think that these are horizontal plays, we have seen some data from vertical wells from the big thick Haynesville shale, big thick 200 feet thick or more that the initial rates after frac are not all that big. I mean a million a half a day.
So you can say that where we're drilling, although it is thinner, the similar type of rates had been established by up in the Minden area with a well that was drilled by the former operator of the property that was bought. So we think that there's still a lot of upside left in the Haynesville even though it is thinner over in the Minden area.
David Heikkinen
Okay. So maybe I'm reading too much into your decision to test the Bossier and the Lime first. It sounds like you're going to test the Haynesville on your acreage as well as beyond just the vertical well?
Dan Dinges
Absolutely we are.
David Heikkinen
So can you give any thicknesses as far as what the Haynesville and Bossier are on your acreage as you move to the South?
Dan Dinges
We're seeing the Bossier and we don't break it out into the so-called Haynesville. I don't buy the terminology. It's all Bossier. It's between 750 and 1000 feet thick and it's all gas charged.
Wednesday, October 22, 2008
Haynesville Shale: New Petrohawk Energy ( HK ) Well hitting 17 MCF per day
Petrohawk Energy ( HK ) came out with an operational update 10/21/08 regarding its Haynesville Shale formation and its new shale discovery, Eagle Ford Shale in South Texas.
Petrohawk's third operated well in the Haynesville Shale, the Hunt Plywood 36 #11H (100% WI), located in Section 36, Township 15 North, Range 13 West, was placed on production at a rate of approximately 17.0 Mmcfe/d, on a 22/64" choke with 7,225 pounds flowing casing pressure. The well has averaged 15.4 Mmfe/d over the first 30 days of production.
The Company's first operated Haynesville Shale well, the Elm Grove Plantation (EGP) #63H, has produced for approximately 100 days and has averaged 8.8 Mmcfe/d over this period. Petrohawk's second operated well, the Hutchinson 9 #5H, has been on production for approximately 67 days and has averaged 14.6 Mmcfe/d over that time period. Several additional Haynesville Shale wells are currently being completed.
The Company has instituted a "pre-drill", or spudder rig, program in the Haynesville Shale designed to accelerate the pace of drilling. Ten operated horizontal rigs are currently drilling in the play as well as five spudder rigs. Petrohawk expects to exit 2008 with twelve operated horizontal rigs drilling in the play. To date, the Company has drilled through the Haynesville Shale in a total of 16 wells. The added well control has shown the Shale to be consistently thick and with excellent reservoir quality in all of these wells. With the drilling program currently in place, Petrohawk estimates that approximately 18 wells will be on production prior to the end of the fourth quarter out of a total of 26 wells drilled through the Shale section by the end of the year.
In addition to Haynesville Shale activities in Northwest Louisiana, Petrohawk will begin testing Haynesville and Bossier Shale prospects in Shelby County, Texas, with initial results expected before year end. Two operated rigs will be dedicated to this program during the fourth quarter. Drilling activity will also initiate on acreage included in the previously announced Joint Venture with EOG Resources in Nacogdoches County during the fourth quarter. Three rigs are expected to be operating within this joint venture area, targeting the Haynesville Shale as well as James Lime and Travis Peak formations.
Petrohawk's third operated well in the Haynesville Shale, the Hunt Plywood 36 #11H (100% WI), located in Section 36, Township 15 North, Range 13 West, was placed on production at a rate of approximately 17.0 Mmcfe/d, on a 22/64" choke with 7,225 pounds flowing casing pressure. The well has averaged 15.4 Mmfe/d over the first 30 days of production.
The Company's first operated Haynesville Shale well, the Elm Grove Plantation (EGP) #63H, has produced for approximately 100 days and has averaged 8.8 Mmcfe/d over this period. Petrohawk's second operated well, the Hutchinson 9 #5H, has been on production for approximately 67 days and has averaged 14.6 Mmcfe/d over that time period. Several additional Haynesville Shale wells are currently being completed.
The Company has instituted a "pre-drill", or spudder rig, program in the Haynesville Shale designed to accelerate the pace of drilling. Ten operated horizontal rigs are currently drilling in the play as well as five spudder rigs. Petrohawk expects to exit 2008 with twelve operated horizontal rigs drilling in the play. To date, the Company has drilled through the Haynesville Shale in a total of 16 wells. The added well control has shown the Shale to be consistently thick and with excellent reservoir quality in all of these wells. With the drilling program currently in place, Petrohawk estimates that approximately 18 wells will be on production prior to the end of the fourth quarter out of a total of 26 wells drilled through the Shale section by the end of the year.
In addition to Haynesville Shale activities in Northwest Louisiana, Petrohawk will begin testing Haynesville and Bossier Shale prospects in Shelby County, Texas, with initial results expected before year end. Two operated rigs will be dedicated to this program during the fourth quarter. Drilling activity will also initiate on acreage included in the previously announced Joint Venture with EOG Resources in Nacogdoches County during the fourth quarter. Three rigs are expected to be operating within this joint venture area, targeting the Haynesville Shale as well as James Lime and Travis Peak formations.
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