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.

Haynesville Shale Update - 7/30 - CLR, - Bakken Shale

I wanted to give a Haynesville Shale update this morning on a new company drilling the Haynesville.


Continental Resources ( CLR )


Continental CLR is now drilling at the Haynesville Shale....as you can recall from my other blog posts, they are the largest operator in the Bakken Shale Oil Field in North Dakota. Continental Resources has 17,000 acres in Louisiana but aren't saying in what parishes. They will be spudding their first well in the 4th quarter.

Leasing News

Broadmoor Neighborhood Association

Approximately 475 to 500 local residents attended this Haynesville Shale meeting at 6:30 p.m. July 22 the Captain Shreve High School auditorium.
BNA had strongly recommended homeowners hold off on signing oil/gas leases until attending the meeting to listen and discuss various matters related to mineral leases, bonus payments, drilling and other related topics. Nonbinding letters of intent for membership in Shreve Centre Coalition LLC, legal since July 18, were distributed to attendees. BNA President Ken Krefft served as moderator at the panel discussion, which included a question-and-answer session.


To view all of the stock of companies drilling in the Shale plays in Canada and the USA....visit http://oilshalegas.com

China Eyeing Chesapeake Energy CHK Shale Assets

These Shale Plays are hot, hot, hot, especially the Haynesville Shale!

Reuters is reporting the China National Petroleum Corporation CNPC is eyeing some of Chesapeakes Shale assets. As you know, CHK has gone from $75 to all the way down $45 in three weeks and is currently trading at $49. They could be sitting on as much as 16 Billion in Haynesville Shale assets which is only a fraction of their Natural Gas portfolio and acreage position.

Chesapeake is looking to raise as much as $5 billion this year from selling minority stakes in its Arkansas and Pennsylvania shale gas properties, the South China Morning Post reported on Monday, citing unnamed market sources.
Energy companies are spending heavily to lock up acreage in hot shale plays, where oil and natural gas are trapped in layers of rock. Record energy prices and technology such as horizontal drilling have made retrieving hydrocarbons from shale profitable.


http://www.reuters.com/article/marketsNews/idINHKG8501520080728?rpc=44

XTO Energy XTO Earnings 7/22

XTO Energy ( XTO ) reports earnings Tuesday July 22nd, 2008 8am Est. XTO Energy is expected to report $1.08 in Earnings.

This will be a key conference call for people wanting new details on XTO's shale plays including the Haynesville Shale, Marcellus Shale, Barnett Shale, and Bakken Shale Fields in which XTO has acreage positions.

I will be on the Conference Call in which I will report and important highlights right here in my blog. Barrons came out today and gave positive highlights on XTO today. It was also upgraded.

Haynesville Shale Websites

Several New Haynesville Shale related websites to note:

Myspace

http://myspace.com/haynesvilleshales
http://myspace.com/bakkenshale
http://myspace.com/marcellusshale

Facebook

http://www.facebook.com/profile.php?id=1336008264
http://www.facebook.com/profile.php?id=1333488344

OilShaleGas.com

http://oilshalegas.com/haynesvilleshale.html
http://hainesvilleshale.com
http://hainesvilleshale.com/hainesvilleshalemap.html