Haynesville Shale

St. Mary Land & Exploration - Haynesville Shale Update

St. Mary Land & Exploration Company (SM) recently updated its operations in the Haynesville shale. The company has 50,000 net acres under lease, with 10,000 acres in Louisiana and 40,000 acres in Texas.

St. Mary Land & Exploration Company just completed its first vertical well in the Haynesville Shale. The USA Bland Lake #1 had a seven-day average production rate of 1.9 million cubic feet equivalent per day. (MMCFEPD). The well is located in San Augustine County, Texas.

St. Mary Land & Exploration is currently drilling a second vertical well in the Haynesville Shale. The Blackstone PB #1 is in Shelby County, Texas. St. Mary Land & Exploration has a 100% working interest in both wells.

Devon Energy Reports Monster Well In Haynesville Shale

Devon Energy Corporation (DVN) reported a successful well completion on its acreage in the Haynesville Shale. Devon Energy Corporation reported that the Kardell Gas Unit 1H had an average 24-hour initial production rate of approximately 30.7 million cubic feet (Mmcf) of natural gas equivalent per day.

The well was drilled to a depth of 18,000 feet and was completed using a lateral of 4500 feet. The well is located in San Augustine County, Texas. Devon Energy has 570,000 net acres in the Haynesville Shale in East Texas and North Louisiana.

Southwestern Energy Company - Haynesville Shale Update

Southwestern Energy Company (SWN) discussed its operations in the Haynesville Shale during its third quarter earnings conference call held on October 30, 2009. The company has drilled six horizontal wells into the Haynesville Shale in its joint venture. Three have been completed, one is being tested, one is awaiting completion and one is being drilled.

Haynesville Shale Production

“Our total production from the Haynesville is currently approximately 34.7 million cubic feet per day gross or 10.2 million cubic feet per day net.”

Haynesville Shale Well Cost

“As far as the well costs, our initial wells were well over $10 million. The last two are going to be in the $9 million to $10 million range. And we think we can get around $9 million wells.”

Source: Seeking Alpha

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Cabot Oil and Gas Completes Haynesville Shale Well

Cabot Oil & Gas Corp. (COG) discussed its acreage in the Haynesville Shale during its third quarter earnings conference call. Cabot Oil and Gas just completed its first well in the Haynesville Shale, and reported an initial 24-hour production rate of 21 million cubic feet (mmcf) per day. The well was drilled with a 3400-foot lateral and a 14 stage hydraulic fracturing operation.

Potential of Haynesville Shale for Cabot Oil and Gas

“Cabot controls 61,000 gross acres, 32,000 net acres over the Haynesville shale area. We think we have anywhere between 150 to 250 gross locations on this acreage with under risk resource potential between 750 Bcf to 1 TCF plus.”

2010 Capital Plans

“Our early 2010 plans approved by our Board yesterday include five Haynesville shale wells.”

“With the recent positive results from our first horizontal Haynesville shale well, we will probably rethink our capital allocation in this area with an eye towards expanding our Haynesville exposure.”

Well Costs

“On the Haynesville well, we were about $10 million with that 14 stage frac.” Source: Seeking Alpha

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Petrohawk Energy Discusses Haynesville Shale

Petrohawk Energy (HK) made the following comments on its properties in the Eagle Ford Shale during its second quarter of 2009 conference call held on August 5, 2009.

Operations

“In the Haynesville, we averaged operating ten horizontal rigs, drilled 13 operated wells and 19 non-operated wells during the quarter and increased production in the field, 63% from 114 million a day to 186 million a day.”

Drilling Efficiencies

“We continue to see improved efficiency with both the drilling and completion of our Haynesville wells. Some of the techniques employed during the drilling operation were the use of rotary steerable drilling systems, shorter curves by using more aggressive bottom haul assemblies, which have decreased the footage necessary to drill the curve.” ___________________________________________________________________

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GMX Resources Reports Two Haynesville Shale Completions

GMX Resources (GMXR) announced the completion of two horizontal wells in the Haynesville Shale.

The Verhalen B 1H well was completed using a 15 stage hydraulic fracturing operation and a 5,270-foot lateral. The well produced an average of 5.7 million cubic feet (MMCF) of gas per day during its first 30 days of operation.

The Holt 1H well was completed using a 12 stage hydraulic fracturing operation and a 4,900-foot lateral. The well also produced an average of 5.7 MMCF of gas per day during its first 30 days of operation.

GMX Resources said that the initial production rates are consistent with estimated ultimate recoveries (EUR) of 5.4 to 6.5 billion cubic feet equivalent (Bcfe) per well in the Haynesville Shale.

The company is currently drilling the Verhalen C 1H well, and expects it to be completed in October 2009. This well is expected to cost less than $7 million, and the company has succeeded in reducing its costs down to $6.5 million per well for drilling and completion costs if a Haynesville Shale well. ___________________________________________________________________

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Goodrich Petroleum Reports Six Haynesville Shale Completions

Goodrich Petroleum Corporation (GDP) released an operational update on its properties in the Haynesville Shale, including completion data on six wells.

Bethany-Longstreet Field (Louisiana)

The Johnson 10H-1 had a 24-hour initial production rate of 17.0 million cubic feet (MMCF) per day, and the Dixie 31H-1 had a 24-hour initial production rate of 14.4 MMCF per day. Chesapeake Energy (CHK) operated both wells.

Goodrich Petroleum Corporation is currently completing the Hunsicker 13H-1, the Caddo Parish 30H-1, and the Plants 26H-1.

Greenwood-Waskom Field (Louisiana)

The Trosper 2H-1 had a 24-hour initial production rate of 11.7 MMCF per day.
 
Longwood Field (Texas)

Goodrich Petroleum Corporation completed the Bohnert 25H-1. The well had a 24-hour initial production rate of 7.5 MMCF per day.

Beckville/Minden Fields (Texas)

Goodrich Petroleum Corporation completed the Swiley 4H which had a 24-hour initial production rate of 7.0 MMCF per day. The Beard-Taylor 1H was also completed at a 24 hour initial production rate of 6.5 MMCF.

Other Goodrich Petroleum Corporation completions are here.

Devon Energy Discusses The Haynesville Shale - Part Two

Devon Energy (DVN) made the following comments regarding its operations in the Haynesville Shale during its second quarter of 2009 conference call held on August 5, 2009:

Reserve Potential

“We have identified roughly 800 risked Haynesville drillings locations over our derisked acreage in the greater Carthage area alone. These locations represent more than three Tcf of risk resource potential net to Devon.”

Estimated Ultimate Recovery

“Our second quarter results further indicate that the derisk portion of our Haynesville acreage in the greater Carthage area can deliver average per well recoveries in the 5 Bcf to 6 Bcf range.”

Cost Savings

“We have achieved significant improvements on the cost side with our most recent Haynesville wells costing between $7 million and $9 million to drill and complete. Since the first well we drilled in the Haynesville, we have seen a 60% improvement in drilling efficiency.”

Source: Seeking Alpha ___________________________________________________________________

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Devon Energy Discusses The Haynesville Shale - Part One

Devon Energy (DVN) made the following comments regarding its operations in the Haynesville Shale during its second quarter of 2009 conference call held on August 5, 2009:

Haynesville Acreage

“Shifting to the Haynesville shale in East Texas, last quarter we told you about our 110,000 net acres in our greater Carthage area. With numerous cores, 3-D seismic, geologic mapping and correlation with our wells drilled to date, we have now substantially derisked 74,000 of the 110,000 net acres.”

Recent Completions

“The hole A118H located in the Carthage field in Panalo county had a 24 hour IP rate of 5 million cubic feet per day. In July we brought our seventh well online, also located in the Carthage field.”

“The Smith-Bird 20H achieved a 24-hour IP rate of over 6 million cubic feet per day. While we have seen instantaneous rates as high as 9 million per day, we continue to bring Haynesville wells on cautiously.”

Source: Seeking Alpha ___________________________________________________________________

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EOG Resources - Haynesville Shale Comments

EOG Resources made comments on its operations in the Haynesville Shale during it second quarter of 2009 conference call held on August 7, 2009:

On Completions

"During the past quarter, we completed five additional Haynesville wells in DeSoto Parish, Louisiana. Individual well rates were outlined in our press release. The key point is that all five wells had IPs between 14 million and 16 million cubic feet per day. I will also note these wells were at pipeline restricted rates. Each had the capability to produce at higher IP numbers."

On Initial Production Rates

"90% of EOG's Haynesville wells have IP rates greater than 10 million cubic feet per day, the highest percentage among the peers. And only 10% of our wells have IP rates of less than 7 million cubic feet per day, the best overall performance of the peers."

Source: Seeking Alpha

EOG has 116,000 net acres under lease in the Haynesville Shale and plans a 10 rig drilling program next year.