Haynesville Shale

Petrohawk Energy Cut Costs In Haynesville Shale

Petrohawk Energy (HK) released earnings for the fourth quarter of 2009, and updated its operations in the Haynesville Shale. The company continues to benefit from its prolific wells in the Haynesville Shale, and is driving costs down as well.

In 2009, Petrohawk Energy produced 174 billion cubic feet of natural gas equivalents, a 76% increase from 2008. The company attributed this production growth to its activities in the Haynesville Shale. Petrohawk Energy currently has 17 rigs running in the play, and has production of 500 million gross cubic feet equivalents per day.

Petrohawk Energy said that its costs to drill in the Haynesville Shale have fallen sharply since it entered the play, and expects this to continue. The average cost to drill, complete and connect wells to sales decreased from $12 million in the first quarter of 2009, to $9 million in the fourth quarter of 2009.

The average cost to drill Haynesville Shale wells in 2009 was $10.5 million, and the company expects well costs to range between $8.0-9.0 million in 2010.

Crimson Exploration Updates Haynesville Shale Operations

Crimson Exploration Inc. (CXPO) has 12,000 acres under net lease in San Augustine and Sabine County in Texas that are prospective for the Haynesville Shale. The company said that the Kardell #1H well, which had an initial production rate of 30.7 million cubic feet equivalent per day, produced nearly 1 billion cubic feet during its first 90 days.

Crimson Exploration plans on drilling five operated wells on its acreage in the Haynesville Shale in 2010.

GMX Resources Reports Haynesville Shale Completion

GMX Resources Inc (GMXR) reported the results of a horizontal well in the Haynesville Shale. The Mia Austin #1H had an initial production rate of 14.1 million cubic feet per day of natural gas.

GMX Resources said that the Mia Austin #1H was completed with a 4600 foot lateral and 12 hydraulic fracturing stages. The company has three other horizontal wells to complete in the Hayesville Shale.

GMX Resources has 42,300 net acres that are prospective for the Haynesville Bossier Shale.