Haynesville Shale

Comstock Resources - Haynesville Shale Update - Part I

Comstock Resources (CRK) issued an operational update and provided additional information on its acreage in the Haynesville Shale. The company has acreage in several different fields in Louisiana and Texas, and drilled 13 gross, or 9.4 net wells in the first quarter of 2010. Twelve of these wells were into the Haynesville formation, and the average production rate of the wells was 14 million cubic feet equivalent per day.

South Toledo Bend

The South Toledo Bend field is located in Sabine Parish, Louisiana. The company drilled the Sustainable Forest 3#1H to the Upper Haynesville or Bossier Shale. The well was completed with a 16 stage hydraulic fracturing operation, and produced at an initial production rate of 20 million cubic feet equivalent per day.

Logansport Field

The Logansport field is located in DeSoto Parish, Louisiana. The company drilled the Horn 5 #1H well to the Haynesville Shale. The well was completed with an 18 stage hydraulic fracturing operation and a 4,669 foot lateral. The well produced at an initial production rate of 20 million cubic feet equivalent per day.

Comstock Resources drilled the Ramsey 4 #1H well to the Haynesville Shale. The well was completed with an 18 stage hydraulic fracturing operation and a 4,616 foot lateral. The well produced at an initial production rate of 15 million cubic feet equivalent per day.

EOG Resources - Haynesville Shale - Q1 2010 Conference Call Comments

EOG Resources (EOG) reported earnings for the first quarter of 2010, and held an earnings conference call to discuss the results. The company made comments on its activities in the Haynesville Shale in Louisiana and Texas.

“Our current rig activity there in the Haynesville is about 11 rigs and we've projected our total North American gas close this year is going to be in the range of 1% to 2%. So we're very cognizant of the fact that the gas market has got a whole lot of gas in storage right now and the last thing we need is everybody to be drilling a zillion gas wells in North America. And so what we've done is, we've tempered, significantly, our gas drilling in all those discretionary areas.”

“Places where we have to drill a certain amount to hold acreage. The biggest of those is the Haynesville… At this stage, we're going to stick with our plan of running roughly 11 rigs and generating that 1% to 2% North American gas production growth. I guess if gas were to fall south of $4 and we were to believe that it was just going to stay there permanently, we'd reassess that.”

Source: Seeking Alpha

GMX Resources - Haynesville Shale Summary - First Quarter 2010

GMX Resources (GMXR) issued an operational update and provided information on its activities in the Haynesville Shale. GMX Resources had a total of 14.9 net producing wells as of 3/31/2010, and 50% of the production from these wells came from the Haynesville Shale formation.

GMX Resources said that 2 Haynesville Shale wells were brought to sales during the first quarter of 2010, and 2 other completions were delayed due to a lack of hydraulic fracturing capacity.

Q1 – 2010 Well Summary (IP Rates)

Mia Austin #1H - 14.1 million cubic feet of gas per day.

Verhalen E #1H – 8.3 million cubic feet of gas per day.

Q2 – 2010 Well Summary (IP Rates)

Bosh #19H – 10.1 million cubic feet of gas per day.

Verhalen D #3H – 11.1 million cubic feet of gas per day.

Blocker Heirs #20H – 14.4 million cubic feet of gas per day.

Verhalen E #6H – 11.1 million cubic feet of gas per day.

Blocker-Ware # 8H – Completion process started 5/7/2010

Well Costs

GMX Resources said that the first 6 Haynesville Shale wells had an average cost of $8.2 million to drill and complete. The company also raised its estimated ultimate recovery (EUR) from 5.3 to 6.5 Billion cubic feet equivalent per well.