Petrohawk's Monster Well in Bossier Parish (Elm Grove)
Petrohawk Energy Corporation Reports Haynesville Shale Result and Leasehold Update
Monday June 30, 7:56 am ET
HOUSTON, June 30 /PRNewswire-FirstCall/ -- Petrohawk Energy Corporation ("Petrohawk" or the "Company") (NYSE: HK - News) today announced that it has completed its initial horizontal well in the Haynesville Shale. On June 27, 2008, the Elm Grove Plantation #63 (100% working interest) was placed on production. On June 29, 2008, the well produced at an average rate of approximately 16.8 million cubic feet of natural gas per day with 5,600 pounds flowing casing pressure on a 26/64" choke. The pilot hole drilled on the well encountered approximately 212 net feet of Haynesville Shale. The targeted interval in the reservoir was at 11,005 feet true vertical depth, and a lateral of 3,880 feet in length was drilled. The completion of the well included eleven stages of fracture stimulation. The Elm Grove Plantation #63 is located in Section 9 - Township 16 North - Range 11 West, Bossier Parish, Louisiana.
Monday June 30, 7:56 am ET
HOUSTON, June 30 /PRNewswire-FirstCall/ -- Petrohawk Energy Corporation ("Petrohawk" or the "Company") (NYSE: HK - News) today announced that it has completed its initial horizontal well in the Haynesville Shale. On June 27, 2008, the Elm Grove Plantation #63 (100% working interest) was placed on production. On June 29, 2008, the well produced at an average rate of approximately 16.8 million cubic feet of natural gas per day with 5,600 pounds flowing casing pressure on a 26/64" choke. The pilot hole drilled on the well encountered approximately 212 net feet of Haynesville Shale. The targeted interval in the reservoir was at 11,005 feet true vertical depth, and a lateral of 3,880 feet in length was drilled. The completion of the well included eleven stages of fracture stimulation. The Elm Grove Plantation #63 is located in Section 9 - Township 16 North - Range 11 West, Bossier Parish, Louisiana.
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Replies to This Discussion
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Permalink Reply by RJ on
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16.8 MCF?? IS that corrrect?? IS that not Huge or is it just because its new and will fall off.
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Permalink Reply by Warren on -
ALL wells will decline with time, but 16.8 MMCFD and 5600 psi is pretty darn good.
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Permalink Reply by lanadan Ds3 on
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Yes this is HUGE as in bigger lease bonuses!!! This is what easyrider from Investorvillage said:
"16.8 mmcfe/day is five times what the really good Barnett wells IP (initial production) for. This confirms the 10 to 20 mmcfe/day numbers that have been floating around for these wells since March. CHK and HK will soar on this news!!!!!!! "
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Permalink Reply by insomniacnla on
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If I use $10.00 per MCF, would this be $168,000 per day or do I have too many zeros behind it?
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I hope EVERYONE who is working a lease deal GETS THIS NEWS. IT WOULD HAVE TO DRIVE UP LEASE DEALS.
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Permalink Reply by lanadan Ds3 on
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Pretty good article on Haynesville Shale:
From the American Association of Petroleum Geologists, Explorer Magazine, July 2008 edition
http://www.aapg.org/explorer/2008/07jul/haynesville.cfm
One excerpt: “Those (Chesapeake) wells are making a lot of gas, and one of the main things that separates this stuff from the Barnett is there’s no huge decline in production,” Sepulvado said. “After a big Barnett frac, they fall off quick, but these don’t fall back – they’re choked back and could be doing even better.
“The only question now is in the Barnett they’re getting about 20 percent recovery,” Sepulvado said, “and this is looking like more toward 30 percent.
“You have a much thicker interval than the Barnett, and some of the values are better, like porosity and TOC,” he noted. “It’s a lot deeper (in the range of 11,000 to 12,000 feet), thicker and better parameters than the Barnett.”
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Permalink Reply by Shaq on
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At current spot of $13.3, I calculate it out at $223,440 per day. Do I have that right?
Let's go farther and assume 6 wells per section (~107 acre spacing) and you get $1.34 million/day/section. That comes out to $335,160 for the landowner (assuming 25% royalties.)
We can dream, can't we? LOL
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Permalink Reply by RAY on
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I just pluged those figures into the$royalty calculator$ posted on this website......the anwer will blow you mind
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