Denbury Resources (DNR) has 16,402 net acres that is prospective for the Haynesville Shale in Louisiana and Texas.
Denbury Resources has 3,141 net acres located in the Stockman field in Texas. The acreage in Louisiana is split between 4 fields as follows:
Greenwood Waskom – 4,971 net acres
Elm Grove – 2,084 net acres
Caspiana – 5,902 net acres
Kingston – 304 net acres
Resources originally allocated $99 million in its capital budget to develop the
Haynesville Shale in 2010. This has
been cut to $65 million due to the low price of natural gas and rising service
Denbury Resources will spend $35 million to drill and complete 5 operated horizontal wells in the Haynesville Shale. The company will also spend $30 million in 2010 to participate in up to 28 non-operated wells.