Chattanooga Shale

Netraction Energy and Vinland Energy Receive Permit To Drill Chattanooga Shale Well

Netraction Energy and Vinland Energy Operating, LLC, two private oil and gas companies, has received a permit to drill a well to test the potential of the Chattanooga Shale in Kentucky.

The Jennifer Conover #1 well is located near the border with Tennessee and will be drilled to a depth of 4,000 feet. Besides the Chattanooga Shale, the well will also test conventional zones including Big Lime, Knifely and Warsaw.

Netraction Energy and Vinland Energy Operating, LLC have 70,130 acres under lease in Whitley County and McCreary County in southeastern Kentucky.

Atlas Energy - Chattanooga Shale Update

Atlas Energy (ATLS) has a 120,000-acre position in northeastern Tennessee that is prospective for the Chattanooga Shale. The company has 450 producing vertical wells in Tennessee, and is the largest producer in the state. Atlas Energy believes that it has nearly 500 drilling locations into the Chattanooga Shale.

The Chattanooga Shale is a Devonian age organic, hydrocarbon rich shale found throughout Tennessee, and other neighboring states. The Chattanooga Shale is located beneath the Mississippian Fort Payne Limestone at a depth of approximately 3,000- 4,000 feet. The shale thickness varies from 80 - 200 feet.

Atlas Energy estimates that the production rates of horizontal wells drilled to the Chattanooga Shale will be 300-500 thousand cubic feet per day and cost less than $1 million to drill and complete.

CNX Gas Reports On Chattanooga Shale

CNX Gas (CXG) is one of the few publicly traded companies that are developing the Chattanooga Shale. The company made the following comments in its third quarter earnings press release.

“CNX Gas continues to be encouraged by its early Chattanooga Shale results. The company has been pursuing a delineation program across its position, which now stands at 268,000 mostly contiguous acres. One well, which came online on October 21, 2008, has produced over 140 MMcf, and is now producing at a daily rate of 861 Mcf, plus a few barrels of oil. A four-stage nitrogen foam frac was employed on this well. CNX Gas continues to acquire acreage in the Chattanooga Shale.”

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Miller Energy Resources Adds To Chattanooga Shale Acreage

Miller Energy Resources (MILL.OB) closed on two purchases in June 2009 that added to its portfolio of assets in the Chattanooga Shale. Miller Energy Resources, also known as Miller Petroleum purchased East Tennessee Consultants.  The assets purchased include 377 natural gas and oil wells and approximately 5,000 leased acres located in the Chattanooga Shale in Tennessee.

The company also purchased Ky-Tenn Oil, Inc., a private oil and gas company, whose assets includes approximately 35,325 leased acres located in the Chattanooga Shale and 173 existing natural gas and oil producing wells. Miller Energy Resources said that there are up to 700 drilling locations on the newly acquired acreage. ___________________________________________________________________

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The Chattanooga Shale - CNX Gas

CNX Gas (CXG) is an exploration and production company with nearly one million acres under net lease in various shale plays in North America. CNX Gas has 244,000 net acres under lease in the Chattanooga Shale, and the company estimates that its net unrisked resource in its Chattanooga Shale acreage to be in a range of 1.1-2.5 Tcf. Its proved reserves are currently 11 Bcf.

CNX Gas is currently developing its acreage in the Chattanooga Shale in Tennessee. The company’s first horizontal well in the Chattanooga Shale had an initial production (IP) rate of 3.9 Mmcf per day. CNX gas has drilled a total of 20 horizontal wells in the Chattanooga Shale through June 2009.

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