The Haynesville Shale is alive and dandy despite natural gas prices plummeting. Forest Oil Corp. (FST) has come out today and announced a huge natural gas well as seen below.
Jul. 13, 2009-- Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced results from its second horizontal well in Red River Parish, Louisiana. The Driver 13-1H (100% WI) produced into the sales line at a rate of 20.3 MMcfe/d with 6500 psi flowing casing pressure in early July 2009. This prolific well was drilled and completed with a horizontal leg of 3,500 feet and a ten stage frac for a total well cost of approximately $9.0 million.
Forest holds approximately 11,050 net acres in Louisiana prospective for the Haynesville Shale and has identified 110 additional potential horizontal locations on this acreage. Forest intends to maintain a one-rig drilling program in Red River Parish for the remainder of 2009 and an additional rig in other prospective areas in the play.
H. Craig Clark, President and CEO, stated, “We are very pleased with the results from this Red River well. Our drilling and completion design delivered a well with results which are at the high end of the range for initial production per lateral length and number of frac stages for only $9 million. We intend to further improve costs and efficiencies as we expand upon our drilling effort in the play. Further, we intend to allocate a horizontal development rig to Red River Parish for the foreseeable future to exploit our acreage position. Our second rig will work both Texas and Louisiana properties in the future.
“Forest intends to continue its current horizontal drilling effort in the Haynesville Shale and the Texas Panhandle Granite Wash areas in order to refine its drilling and completion techniques. When costs and commodity prices improve to more attractive levels, Forest intends to deploy a rig count commensurate with its size and scale focused in these areas.”
http://phx.corporate-ir.net/phoenix.zhtml?c=92251&p=irol-newsArticle&ID=1306958&highlight=
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Showing posts with label forest oil. Show all posts
Showing posts with label forest oil. Show all posts
Monday, July 13, 2009
Tuesday, February 24, 2009
Utica Shale: Junex JNX 2009 Update - Natural Gas
Junex ( CVE: JNX ) has come out today, 2/24/09, and updated investors on the Utica Shale well they are drilling with partner Forest Oil ( FST ).
Forest drilled and completed the first three horizontal Utica Shale wells in Quebec's St. Lawrence Lowlands, which were successfully cased and fracture stimulated in four stages with rates ranging from 100 - 800 Mcf/d. Frac load flowback was incomplete due to the lack of coiled tubing units in the area. Forest expects to continue to test its wells after the winter season is over. Although sustained rates were not as high as anticipated, the tests have allowed Forest to identify the section of the shale it intends to target in future test wells. Each of the wells were tested in different sections of the Utica Shale with an objective of gathering data on productivity to allow optimization of future completions. Furthermore, Forest proved the ability to successfully drill the wells horizontally and pump multi-stage slickwater frac jobs without major operational issues."
"We are quite excited that our partner is perseverant in its efforts and remains committed to the Utica Shale Gas project. The three wells drilled in 2008 are the first horizontal wells to be drilled and fracture stimulated in the Utica Shale in Quebec. Considering that the Lowlands shale gas play is at its earliest stage of development, we fully expect to learn and build upon the results from these few first wells to develop the best drilling and completion recipes for the Utica Shale" said Junex's president, Mr. Jean-Yves Lavoie, P. Eng. "Furthermore, the results of the Champlain #1H horizontal well, coupled with the results of Junex's St-Augustin-de-Desmaures #1 well drilled near Quebec City last year, demonstrate the shale gas potential of Junex's 100%-held north shore acreage along the pipeline corridor between the two areas."
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Forest drilled and completed the first three horizontal Utica Shale wells in Quebec's St. Lawrence Lowlands, which were successfully cased and fracture stimulated in four stages with rates ranging from 100 - 800 Mcf/d. Frac load flowback was incomplete due to the lack of coiled tubing units in the area. Forest expects to continue to test its wells after the winter season is over. Although sustained rates were not as high as anticipated, the tests have allowed Forest to identify the section of the shale it intends to target in future test wells. Each of the wells were tested in different sections of the Utica Shale with an objective of gathering data on productivity to allow optimization of future completions. Furthermore, Forest proved the ability to successfully drill the wells horizontally and pump multi-stage slickwater frac jobs without major operational issues."
"We are quite excited that our partner is perseverant in its efforts and remains committed to the Utica Shale Gas project. The three wells drilled in 2008 are the first horizontal wells to be drilled and fracture stimulated in the Utica Shale in Quebec. Considering that the Lowlands shale gas play is at its earliest stage of development, we fully expect to learn and build upon the results from these few first wells to develop the best drilling and completion recipes for the Utica Shale" said Junex's president, Mr. Jean-Yves Lavoie, P. Eng. "Furthermore, the results of the Champlain #1H horizontal well, coupled with the results of Junex's St-Augustin-de-Desmaures #1 well drilled near Quebec City last year, demonstrate the shale gas potential of Junex's 100%-held north shore acreage along the pipeline corridor between the two areas."
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Monday, August 18, 2008
Haynesville Shale - Forest Oil ( FST ) East Texas, Cotton Valley - 8/18/08
Forest Oil ( FST ) announced today that it has aquired acreage that is prospect to the Haynesville shale in East Texas.
Forest Oil announced today that it has entered into a definitive agreement with Cordillera Texas, L.P. to acquire producing assets including approximately 118,000 gross acres (85,000 net acres) in Forest’s core Greater Buffalo Wallow and East Texas/North Louisiana Focus Areas. Forest attributes estimated proved reserves of 350 Bcfe (36% proved developed) with additional net unrisked potential of 1,200 Bcfe and approximately 1,500 additional vertical and horizontal drilling locations (1,194 unbooked locations) to the properties. The properties produced an average of approximately 34 MMcfe/d in the first half of 2008 and are focused primarily in the Granite Wash, Atoka and Morrow intervals in the Greater Buffalo Wallow Area and in the Cotton Valley and Travis Peak intervals in East Texas. The acquired acreage in East Texas also has James Lime, Haynesville/Bossier Shale and Pettet rights.
Forest Oil announced today that it has entered into a definitive agreement with Cordillera Texas, L.P. to acquire producing assets including approximately 118,000 gross acres (85,000 net acres) in Forest’s core Greater Buffalo Wallow and East Texas/North Louisiana Focus Areas. Forest attributes estimated proved reserves of 350 Bcfe (36% proved developed) with additional net unrisked potential of 1,200 Bcfe and approximately 1,500 additional vertical and horizontal drilling locations (1,194 unbooked locations) to the properties. The properties produced an average of approximately 34 MMcfe/d in the first half of 2008 and are focused primarily in the Granite Wash, Atoka and Morrow intervals in the Greater Buffalo Wallow Area and in the Cotton Valley and Travis Peak intervals in East Texas. The acquired acreage in East Texas also has James Lime, Haynesville/Bossier Shale and Pettet rights.
Thursday, July 24, 2008
Bakken Shale - Encore EAC - Sanish Well Results
Today Encore Aquisition Company ( EAC ) has updated its investors on their Bakken Shale Play.
EAC today reported initial results from its first well drilled in the Sanish Formation of the Bakken Shale Trend.
Encore recently finished drilling and completing its first well in the Sanish Formation of the Bakken Shale Trend, the Charlson 11-16H, in Williams County, North Dakota. The well was brought online on July 23 at an initial production rate of 1,106 BOE per day flowing up 7" casing. The Company has a 96 percent working interest in the well, which also contains very favorable pay in the Bakken Formation. The well is approximately four miles northwest of the best Sanish well drilled to date in North Dakota, the USA 2D-3-1H, which has produced over 560,000 BOE in 19 months.
Encore owns 10,400 net acres in the Charlson area and can drill or participate in an additional 28 wells on its current acreage position in this area of the Sanish. The Company is currently drilling a second Sanish well in the Charlson Field, which it plans to complete in the third quarter. Encore plans to drill a total of six wells in the Sanish in the Charlson Field in 2008. Additionally, two other Sanish wells will be drilled in the Charlson area offsetting the USA 2D-3-1H well. This area is prospective for both the Sanish and Bakken Formations, which could significantly add to the total recoverable reserves under the Company's leases.
As previously disclosed, Encore has recently expanded its acreage position in the Bakken and Sanish Shale Play to over 240,000 net acres. Encore plans to add a third rig to drill Bakken and Sanish wells in August 2008. Upon arrival of the additional rig, Encore plans to drill a Sanish well in its Cherry Creek Prospect, where the Company owns a significant lease position of approximately 70,000 net acres. Encore believes its Cherry Creek Prospect is in the Sanish fairway. The Company also plans to commence drilling in August in the Company's Almond Prospect, in Mountrail and Ward Counties, North Dakota, in which the Company currently holds an acreage position of approximately 53,000 net acres. The Almond Prospect is prospective for both the Sanish and Bakken Formations. The Company expects to drill and complete five-to-six Bakken and Sanish wells in the third quarter of 2008, as well as re-frac several current Bakken producers.
EAC today reported initial results from its first well drilled in the Sanish Formation of the Bakken Shale Trend.
Encore recently finished drilling and completing its first well in the Sanish Formation of the Bakken Shale Trend, the Charlson 11-16H, in Williams County, North Dakota. The well was brought online on July 23 at an initial production rate of 1,106 BOE per day flowing up 7" casing. The Company has a 96 percent working interest in the well, which also contains very favorable pay in the Bakken Formation. The well is approximately four miles northwest of the best Sanish well drilled to date in North Dakota, the USA 2D-3-1H, which has produced over 560,000 BOE in 19 months.
Encore owns 10,400 net acres in the Charlson area and can drill or participate in an additional 28 wells on its current acreage position in this area of the Sanish. The Company is currently drilling a second Sanish well in the Charlson Field, which it plans to complete in the third quarter. Encore plans to drill a total of six wells in the Sanish in the Charlson Field in 2008. Additionally, two other Sanish wells will be drilled in the Charlson area offsetting the USA 2D-3-1H well. This area is prospective for both the Sanish and Bakken Formations, which could significantly add to the total recoverable reserves under the Company's leases.
As previously disclosed, Encore has recently expanded its acreage position in the Bakken and Sanish Shale Play to over 240,000 net acres. Encore plans to add a third rig to drill Bakken and Sanish wells in August 2008. Upon arrival of the additional rig, Encore plans to drill a Sanish well in its Cherry Creek Prospect, where the Company owns a significant lease position of approximately 70,000 net acres. Encore believes its Cherry Creek Prospect is in the Sanish fairway. The Company also plans to commence drilling in August in the Company's Almond Prospect, in Mountrail and Ward Counties, North Dakota, in which the Company currently holds an acreage position of approximately 53,000 net acres. The Almond Prospect is prospective for both the Sanish and Bakken Formations. The Company expects to drill and complete five-to-six Bakken and Sanish wells in the third quarter of 2008, as well as re-frac several current Bakken producers.
Tuesday, July 15, 2008
Bakken Shale Discovery - BEXP Brigham
Brigham Exploration today announced that the well they have drilling is hitting over 700 barrels of Oil per day. Their first well is hitting over 600 barrels per day in oil equivalent.
Big news out of the Bakken Shale! Continental Resources last week said their well was hitting over 1000 barrels a day with half being natural gas.
For more of the Bakken Shale....visit these two websites
http://www.oilshalegas.com/bakkenshale.html
http://bakkenshale.net
Big news out of the Bakken Shale! Continental Resources last week said their well was hitting over 1000 barrels a day with half being natural gas.
For more of the Bakken Shale....visit these two websites
http://www.oilshalegas.com/bakkenshale.html
http://bakkenshale.net
Wednesday, July 9, 2008
The Utica Shale Play - Canada 7-09-08
The Utica Shale Play, located in Quebec Canada, has been heating up lately. Several companies are buying up acres in a big way. The leader appears to be Forest Oil Company FST....followed by several small companies which I will be listing later today on my website.
Keep an eye on this shale as it is estimated to hold over 24 trillion cubic feet in Natural Gas Reserves. Action really only started on this shale last year beginning with Forest Oil. Haynesville Shale started I believe in 2005-2006.
For more on the Utica Shale - go to this website http://www.oilshalegas.com/uticashale.html
For more on President Bush's offshore drilling plan... go here http://www.oilshalegas.com/offshoreoildrilling.html
Keep an eye on this shale as it is estimated to hold over 24 trillion cubic feet in Natural Gas Reserves. Action really only started on this shale last year beginning with Forest Oil. Haynesville Shale started I believe in 2005-2006.
For more on the Utica Shale - go to this website http://www.oilshalegas.com/uticashale.html
For more on President Bush's offshore drilling plan... go here http://www.oilshalegas.com/offshoreoildrilling.html
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