Chesapeake announces joint venture with GDP
AP
Goodrich Petroleum, Chesapeake Energy in deal
Monday June 16, 8:00 am ET
Chesapeake Energy to pay Goodrich Petroleum $178 million as part of joint venture in Louisiana
HOUSTON (AP) -- Goodrich Petroleum Corp. said Monday it entered a joint venture with Chesapeake Energy Corp. to develop crude oil and natural gas prospects in northwest Louisiana.
Chesapeake will pay Goodrich about $178 million for working interests in deep strata of the Bethany-Longstreet field. Oklahoma City-based Chesapeake also will pay an undisclosed amount to a third party for rights to the deep strata of the Longstreet field.
The purchases, expected to be completed by July 15, will give Goodrich and Chesapeake each a 50 percent stake in the deep strata of the two fields, located in Caddo and DeSoto parishes.
Chesapeake said it expects to drill as many as 440 horizontal Haynesville Shale wells on the acreage.
Drilling will begin in the third quarter.
Goodrich Petroleum, Chesapeake Energy in deal
Monday June 16, 8:00 am ET
Chesapeake Energy to pay Goodrich Petroleum $178 million as part of joint venture in Louisiana
HOUSTON (AP) -- Goodrich Petroleum Corp. said Monday it entered a joint venture with Chesapeake Energy Corp. to develop crude oil and natural gas prospects in northwest Louisiana.
Chesapeake will pay Goodrich about $178 million for working interests in deep strata of the Bethany-Longstreet field. Oklahoma City-based Chesapeake also will pay an undisclosed amount to a third party for rights to the deep strata of the Longstreet field.
The purchases, expected to be completed by July 15, will give Goodrich and Chesapeake each a 50 percent stake in the deep strata of the two fields, located in Caddo and DeSoto parishes.
Chesapeake said it expects to drill as many as 440 horizontal Haynesville Shale wells on the acreage.
Drilling will begin in the third quarter.
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Replies to This Discussion
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Permalink Reply by DrWAVeSport Cd1 on
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All I can see or say is....Up, Up, and Away!
Thank you CHK, you have AGAIN confirmed that the value of NWLa land leases, according to you (and GDP) are completely contrary, incomparable and erroneous, in comparison to what your leasing representatives have been stating/claiming to NWLa landowners. It would be nice to see the O&G execs and their local leasing reps get on the same PAGE.
The only people these O&G companies seem to have a problem "announcing" their Haynesville Shale information to...are the MINERAL OWNERS in NWLa.
DrWAVeSport 6/16/08 a.m.
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Permalink Reply by MARG on -
I believe that Bethany Longstreet Field is between Logansport, La. and Stonewall, La. It would be on the highway to Shreveport, La. if you left Texas at Logansport, La. and went left as you leave Logansport. So, check the map in that particular area. I have been through there many times, many years ago.
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Permalink Reply by Matt on
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I live in Blanchard (Longwood field), 5.01 acres section 31 township 19n range 15w. I did notice on SONRIS that in township 18n range 15w that there are a few leases going for $8500. This is just south of the Blanchard area. I also found that Goodrich is drilling 2-3 Haynesville Shale test wells in the longwood field over the next 90 days. Not sure how this may effect the Blanchard area.
Does anyone else have information regarding activity / Leases in the Blanchard area?
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