Haynesville Shale

Comstock Resources Releases Haynesville Shale Update For First Quarter Of 2011

Comstock Resources (CRK) reported operational statistics and other data on the company’s Haynesville Shale activities for the first quarter of 2011. 

• Drilled 15 gross or 6.9 net wells, and completed 21 wells (operated and non-operated basis).
• Average initial production rate per well of 11.2 million cubic feet of natural gas equivalents per day.
• Seven Haynesville Shale wells are in the process of being drilled as of 3/31/2011.

Comstock Resources plans to drill 46 gross or 29.7 net wells in the Haynesville Shale in 2011, and operate four rigs.  The company will move one rig out of the areas during 2011.

Petrohawk Energy Starts Cutting Haynesville Shale Rig Count

Petrohawk Energy (HK) reported an update on its oil and gas operations in the Haynesville Shale during the first quarter of 2011.  The company expects to have most of its leasehold held by production by the end of 2011.

Petrohawk Energy operated an average of sixteen rigs in the Haynesville Shale and drilled 84 wells during the first quarter of 2011.  The company plans to start reducing its rig count until it is operating six rigs in the play.

Petrohawk Energy also estimates that its Haynesville Shale operations will become cash flow positive by the third quarter of 2011.  The company reported net production of 607 million cubic feet of natural gas equivalents per day in the first quarter of 2011.

QEP Resources Reports Haynesville Shale Activity In First Quarter Of 2011

QEP Resources (QEP) issued an operational update on its activities in the Haynesville Shale, where the company has 50,750 net acres under lease in the core area of the play.

First Quarter of 2011

QEP Resources put ten wells onto production and reported that the company average drill time for Haynesville Shale wells was 32 days (spud to total depth), down from 37 days previously.  The company said that its average cost to drill and complete a Haynesville Shale well was $9.1 million, down from $9.3 million in the previous quarter.

QEP Resources reported average production of 257 million cubic feet equivalent per day from well in the Haynesville Shale. The company has 24 wells waiting on completion and has 6 rigs operating in the play.