Rumor about CHK announcing important new find Q1 2011
Replies to This Discussion
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Permalink Reply by North LA on
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It's from a guy who usually doesn't spread rumors. He just heard they were going to release some information about a "major new discovery". I was wondering if anyone knew any specifics.
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Permalink Reply by Robby Patterson on
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It may be the Woodford Shale in the Texas Panhandle, western Oklahoma, and western Kansas. CHK is just getting involved but EOG, Conoco Phillips, etc. have been there for several months.
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Permalink Reply by Robby Patterson on
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That's interesting. Thanks for the information. Do you know where they have made wells in the Woodford. I know they just brought a new crew into the area I referenced. Some people also call this the Cana-Woodford so we may be talking about two different plays.
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Permalink Reply by Robby Patterson on
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North LA, I believe Chesapeake sold their Woodford position to BP in 2008 for $1.75 Billion. However, they have gotten into this play in western Kansas, western Oklahoma and the Texas Panhandle and have driven average bonus prices from the $150 p/a range to $400 p/a range over a few weeks in western Kansas and western Oklahoma. These are mostly 640 acre leases. Very few restrictions on most of the leases, but most landowners want each section on a separate lease.
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Permalink Reply by olddog573 on
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Massive Oil in southern desoto right smack dab in the middle of my property. Yahooooooo weeeeeeeeeee!
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Permalink Reply by Skip Peel - Mineral Consultant on -
It's an oil shale play located in Colorado, Nebraska and Wyoming.
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Permalink Reply by North LA on
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You're right. It could just be some well results from the niobrara but this guy made it sound like it was something that CHK hasn't talked about before and the niobrara play is already listed in their investor presentations. It could be nothing but I was hoping it was something in this area and something big.
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Permalink Reply by Skip Peel - Mineral Consultant on
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I know that Chesapeake has been mentioned in our Brown Dense discussions but since Bill M. revealed that it is not a resource play, I don't think it would make for a Big announcement.
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