Haynesville Shale

Unit Corporation Updates Haynesville Shale Operations

Unit Corporation (UNT) has drilled and completed one well in the Haynesville Shale to date. The Smith #1H well is located in Shelby County, Texas, and was drilled with a 3300 foot lateral and completed with an eight stage hydraulic fracturing operation. The company has not released any production information for the well.

GMX Resources Updates Haynesville Shale Operations

GMX Resources (GMXR) issued an operations update for the second quarter of 2010, and disclosed details on the company’s activities in the Haynesville Shale. The company brought onto sales six horizontal wells during the quarter, bringing its total since entering the play to nineteen gross, or 18.6 net wells.

GMX Resources reported average daily production of 47.3 million cubic feet equivalent per day during the second quarter of 2010. This was up from 35.5 million cubic feet equivalent per day in the first quarter of 2010. GMX Resources is operating two rigs in the Haynesville Shale.

GMX Resources has been experimenting with using additional proppant in Haynesville Shale wells and estimates that wells in this program will produce an extra 21% of natural gas during the first thirty days.

Southwestern Energy Comments On Haynesville Shale Operations

Southwestern Energy (SWN) reported its earnings for the second quarter of 2010, and updated investors on the company’s operations in the Haynesville Shale. The company recently closed on the sale of some of its acreage in the Haynesville Shale, but still has more than 10,000 net acres.

“On June 30, we closed the sales of certain oil and gas properties, leases and gathering equipment in Shelby and San Augustine counties for $355.8 million. The sale included only the producing rights to the Haynesville and Middle Bossier Shale intervals in approximately 20,000 net acres. We retained the drilling and producing rights, covered all the depths in the acreage including our James Lime and Pettet drilling programs. We still have approximately 10,500 net acres with Haynesville and Middle Bossier potential and drilled two wells on this acreage in the second quarter.”

“The Timberstar Blackstone A1-H well targeting the Haynesville Shale formation has been drilled and is currently being completed, and the Harris B-1H well, targeting the Middle Bossier Shale formation, has been drilled and is scheduled to be completed later this year. A third well, the Crest C-1H is currently drilling and will be completed in December.”

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