Replies to This Discussion

Permalink Reply by William C. Morrison on January 10, 2015 at 3:47

I sent an email to Minichi and it was bounced, towit "they were not accepting any messages.".  I do not think they have picked up on Anadarko, only picked up that Anakarko was pulling out of the region.  So they cooked up some marlarkey to make them look good to their Penn customers.  They are way to small potatoes to operate in the Austin Chalk.

Permalink Reply by Joe Aldridge on January 10, 2015 at 5:01

Chip,

By any chance have you checked to see if the Lecour 43 is producing? And is it still listed with APC as operator?

I do agree that this group is way too small to operate (drill new wells) in the AC. The only thing I see is they picked up the HBP and was trying to get some production from those wells.

Permalink Reply by Skip Peel - Mineral Consultant on January 10, 2015 at 5:18

As I mentioned previously, the State of Louisiana does not recognize Minichi as the operator of any wells.  The LeCour 43 and all the APC wells are still listed under their name.  For reported production just click on the particular well and look under, L/U/W Production.

http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellorg6?...

Permalink Reply by Joe Aldridge on January 10, 2015 at 5:30

So there is/was no sale to Minichi at this point. Interesting. Especially with the leasing to the East and now the State leases coming up to the West. Could be a very large player looking at the area. One player that has been mentioned in my emailing with people is ConocoPhillips. They are supposedly interested in the deep Louisiana Eagleford. According to the thesis on Kirk's site the lower third of the Shale play would be gas with condensate. That to me looks very interesting, could be the sweet spot that I always said is there. Then again, it could be AC. In any case this could get interesting.

Permalink Reply by Craig Wascom on January 10, 2015 at 5:40

In the Permian condensate is about to be a big deal. They are building special pipelines here so they can get condensate to the coast since it now can be sold overseas.

Permalink Reply by Skip Peel - Mineral Consultant on January 10, 2015 at 5:48

The current leasing does not appear, at this time, to be indicative of a company the size of ConocoPhillips.  That could change as we get more information.  State leases are traditionally taken when development is fairly imminent due to the fact that the lease is only good for one year without payment to extend.  State leases are generally taken after all the private lands have been leased.

In some of the established unconventional "oil" plays the unspoken reality is that many of the best wells are more "wet gas" than "oil" with the Eagle Ford being the prime example.  If you review the best wells in that play you find that they are not far up into the "oil window" but rather in a belt where the oil window meets the wet gas window.  The reason is that the wet gas window has better formation pressure and the lighter hydrocarbons, condensates and NGLs, are smaller molecules that can more efficiently migrate through a highly impermeable matrix to a well bore. 

The decline in development in the TMS Play masks several important facts.  The number of wells that can truly be called commercial is small and the well costs are far above what some of the operators are claiming.  In updating my TMS spreadsheet this morning I am checking to see which wells are reported complete to either MS or LA but have not been reported in recent corporate statements.  Of the 4 wells I find the average completion is 777 BBL/D and 605 MCF/D.  Even converting the gas produced into BOE as the operators prefer to do, these wells are not economic. 

Permalink Reply by Joe Aldridge on January 10, 2015 at 13:16

Thanks Skip for you view.

There are a number of prospects that we have been discussing off line. One is EXXON/XTO. Its hard to believe that XON would let a major play develop practically under one of their major refineries. They have laid in a lot of infrastructure in the area in the last two years including a 20" pipeline into the heart of the TMS play. Another is C/P. With someone looking at the State Acreage to the West then it could be either of these two and would be a very sizeable play. Another possible is Whiting. They are looking at the Gulf Coast region as far as a new play. Their problem is they are heavily debt ridden already and the current price of oil or gas would put them out of the mix in my opinion. Another is American Energy, Aubrey's new company. They have the capital and the ability to raise more, which they are doing. Chevron would be another. Two of their guys did an in-depth study of the TMS for a dissertation that is listed on Kirk's site. So they must be interested. That dissertation shows that the lower 1/3 of the current TMS play should be Gas/condensate and thus have good gas drive. This could get interesting. Time will tell who is moving on this part of the play and if its EF or Austin Chalk or both.

Permalink Reply by William C. Morrison on January 10, 2015 at 5:23

Sonris Lite shows LaCour #43 as a "10" meaning it is a producing well.  But the last report on Sonris Lite was October last year at 193 barrels of oil and 300 MCF of gas.  So I suppose it is plugging along and will do so until it is shut off.  With the price of oil being what it is and the price gas being what it is, I am not so sure it is still worth keeping open, may go into the reserve pile. But as said in the past, keeping the well producing keeps the foot in the door.

Permalink Reply by John Matherne on February 3, 2015 at 7:04

Price goes down and production goes up. Hmmm

LEASE\UNIT\WELL PRODUCTION

RPT DATE	LUW CODE	STORAGE FAC	DOC USE	WELL CNT	OPENING STK	OIL PROD(BBL)	GAS PROD(MCF)	DISPOSITION	CLOSING STK	PARISH
11/01/2014	050956			1	267	487	419	355	399	POINTE COUPEE
10/01/2014	050956			1	243	193	300	169	267	POINTE COUPEE
09/01/2014	050956			1	230	181	276	168	243	POINTE COUPEE
08/01/2014	050956			1	217	197	282	184	230	POINTE COUPEE
07/01/2014	050956			1	200	192	289	175	217	POINTE COUPEE

Permalink Reply by John Matherne on May 5, 2015 at 6:08

RPT DATE	LUW CODE	STORAGE FAC	DOC USE	WELL CNT	OPENING STK	OIL PROD(BBL)	GAS PROD(MCF)	DISPOSITION	CLOSING STK	PARISH
02/01/2015	050956			1	262	690	544	184	768	POINTE COUPEE
01/01/2015	050956			1	229	774	581	741	262	POINTE COUPEE
12/01/2014	050956			1	399	183	7	353	229	POINTE COUPEE

Permalink Reply by William C. Morrison on May 6, 2015 at 4:01

Improved production.  It  is going up.  I wonder if they put a lift mechanism on  the well?  Or is it just being un choked a bit?  No matter after several years I the  200 BBLs plus to the current 774 to 690 BBLs per month is a big difference.  No matter I like it.

Permalink Reply by John Matherne on June 11, 2015 at 5:25

Up more

RPT DATE	LUW CODE	STORAGE FAC	DOC USE	WELL CNT	OPENING STK	OIL PROD(BBL)	GAS PROD(MCF)	DISPOSITION	CLOSING STK	PARISH
03/01/2015	050956			1	768	896	475	1429	235	POINTE COUPEE

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