Haynesville Shale

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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