Haynesville Shale

Goodrich Petroleum Reports Haynesville Shale Completion

Goodrich Petroleum Corporation (GDP) reported the completion of a Haynesville Shale well. The Billy Harris No. 1H was completed with a 24 hour peak production rate of 12.2 million cubic feet per day of natural gas. The horizontal well was drilled with a 5,000-foot lateral and 20 fracturing stages.

Goodrich Petroleum Corporation has a 100% working interest in this Haynesville Shale well. The company has 85,000 acres under net lease that are prospective for the Haynesville Shale.

The Beckville Field is located in Panola and Rusk Counties in Texas. The company has 97 Bcfe of proved reserves here as of the end of 2008, all of which is located in the Cotton Valley formation. Goodrich Petroleum Corporation believes that it has 147 net well locations in the Haynesville Shale in the Beckville Field.

Southwestern Energy Allocates $230 Million For Haynesville Shale In 2010

Southwestern Energy Company (SWN) released details of its 2010 capital budget, and is allocating $230 million in capital to develop its acreage in the Haynesville Shale. Southwestern Energy will operate 2 horizontal rigs in the Haynesville Shale in 2010, and will drill between 50-60 gross (25-30 net wells) during 2010.

Southwestern Energy said that between 21 and 26 wells would be targeting the Haynesville or Middle Bossier Shales in East Texas, and the balance of the wells will be drilled to the James Lime, Pettet or Cotton Valley formations.

Southwestern Energy has approximately 33,000 net acres that are prospective for the Haynesville Shale.

Comstock Resources - Haynesville Shale Update - Part III

Comstock Resources (CRK) held its third quarter earnings conference call on November 3, 2009, and discussed its operations in the Haynesville Shale. The company has drilled 28 horizontal Haynesville Shale wells year to date in 2009, and plans 41 horizontal Haynesville Shale wells through the end of 2009. Comstock Resources belives it has 3.4 Tcfe of total reserve potential based on 80 acre spacing and 5 Bcf per well estimated ultimate recovery (EUR).

EUR’s

“We're using the 5 Bcf as a foundation or a platform EUR across the play, but certainly in Logansport we're seeing higher EURs and across our acreage footprint there.”

Haynesville Shale Production

“The Haynesville Shale results in Louisiana have gotten stronger. Several of our most recent wells in Logansport and Mansfield completed in the third quarter had initial production rates over 21 million cubic feet equivalent per day.”

“Our East Texas/North Louisiana region averaged 116 million per day with 60 million coming from our Cotton Valley wells and 56 million coming from our Haynesville Shale wells.”

Haynesville Shale Acreage

“We currently have 85,000 gross acres and 72,000 net acres that we believe are prospective for Haynesville development. 50,000 net acres are in Louisiana and 22,000 net acres are in East Texas. Given expected well spacing of 80 acres and an expected per well recovery of 5 Bcfe per well, our acreage could have 3.4 Tcfe of reserve potential.”

Operations

“We are having a very successful year with the drill bit. We drilled 38 successful wells, including 28 horizontal Haynesville Shale wells.”

“We now plan to drill the 41 planned Haynesville Shale wells. Four other wells are in Texas in the Waskom and Blocker fields. 37 other wells are being drilled in the prolific part of the plain North Louisiana. 23 of the operated wells have been completed and are now producing over 80 million cubic feet equivalent per day net to our interest.”

“Since our second quarter conference call, we've completed 10 successful operated Haynesville Shale horizontal wells in De Soto Parish in North Louisiana. Five of these wells are in our Toledo Bend North field, four in the Logansport field and one is in the Mansfield field.”

Source: Seeking Alpha