Haynesville Shale

Plains Exploration and Production Company Issues Haynesville Shale Update For Fourth Quarter Of 2010

Plains Exploration and Production Company (PXP) issued an operational update on its acreage in Texas and Louisiana that is prospective for the Haynesville Shale formation. 

Plains Exploration and Production Company reported net average sales volumes of approximately 146 million cubic feet equivalent per day in the fourth quarter of 2010.  The company expects this production to grow to 160 million cubic feet equivalent per day by the end of 2011.

Plains Exploration and Production Company has now converted 65% of its acreage in the Haynesville Shale to held by production.

El Paso Updates Haynesville Operations For 2010

El Paso (EP) issued an operational update on its activities in the Haynesville Shale, where the company has 46,000 net acres under lease in Texas and Louisiana.

El Paso has 58 producing wells in the Haynesville Shale, and 415 future drilling locations.  The company reported net production at the end of 2010 at 210 million cubic feet of natural gas equivalents per day.  El Paso has 9 wells drilled and waiting on completion.

El Paso has proven undeveloped reserves of 375 Bcfe, and estimates its risked and unrisked resource potential at 800 Bcfe.

Comstock Resources Establishes 2011 Haynesville Shale Budget

Comstock Resources (CRK) announced its 2011 capital budget and will still direct a large amount of capital into the Haynesville Shale despite low prices for natural gas.

Comstock Resources currently has five rigs operating on its Haynesville shale acreage, but will release one rig during the first quarter of 2011, and shift another rig to another domestic play by the middle of 2011.

Comstock Resources said that the company will spend $110.2 million to complete 25 gross, or 21.6 net Haynesville Shale wells drilled in 2010 and carried over into 2011.  The company has also allocated enough capital to drill an additional 45 gross, or 27.5 net Haynesville Shale wells in 2011.