N. LA. Haynesville Activity Slows to a Crawl
Per a review of Sonris, N. LA. Haynesville well activity is virtually nonexistant. Over the past 2 weeks no new wells were spud, only 1 well was completed, and no wells were converted from "drilled & completed" status to "producing" status. In fact, the only Haynesville actvity was the filing of 24 new drilling permits. This is the obvious result of low gas prices. Operators will continue to delay discretionary activity so long as gas prices are low. With the tremendous high IP rates followed by rapid decline, rational operators will delay turning on wells now in hopes of selling gas at higher prices. They will also delay spudding any wells except for those necessary to meet drilling contract obligations, or to hold onto valuable acreage. In this case the interests of the oil companies and that of the landowners are aligned. Don't expect things to pick up until gas prices do!
Views: 80
Replies to This Discussion
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Permalink Reply by Les Bamburg on
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Bill, I would just suggest you follow the information in the following group:
http://www.gohaynesvilleshale.com/group/drillingriglocations
The number of drilling rigs has remained steady or actually increased slightly for the Haynesville Shale in NW Louisiana while the number of gas rigs has been cut by 47% in the US. In addition, a review of the operator budgets shows they are shifting a higher percentage of available capital to the Haynesville Shale while cutting spending in other areas.
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Permalink Reply by CB on
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These rigs will disappear once the contracts expire, book it. I invest in oil and gas deals, and wouldn't touch this trend with a ten foot pole (not in this climate).
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Permalink Reply by CB on
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Time will tell, depends on the gas market, which looks bad until maybe 1st Qtr 2010. Contracts can be broken and a penalty paid, happens all the time.
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Permalink Reply by Bill Fowler on
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Do you'all have any experience with the accuracy of the Sonris drilling reports, which is where my data comes from. I am tracking 200+ wells and permits that have been identified as HS. Basically there is very little activity being updated now on Sonris with respect to those wells. So, if there is a lot of activity then it is not being reported to the state.
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Permalink Reply by Les Bamburg on
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Bill, my count of permitted HS wells in Louisiana is at 372 with 240 wells spudded.
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Permalink Reply by Bill Fowler on
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Okay, it looks like my data is old, even though it was run on the 16th. I reconciled the Desoto drilling rig report from this site to my data. Out of the 30 wells that are currently drilling, 14 had changed status on Sonris from the time that I pulled the data. So, I showed 14 wrong status'! I'll know not to post an old report again!
BTW, do you'all know where the drilling rig contractor & rig number info comes from? Is it on Sonris, or from the contractors, or from the field?
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Permalink Reply by w.r. frank on -
I believe Les. B.'s last report showed 55 rigs working in HA. NW. LA. DeSoto, Caddo, Bossier, Bienville, Red River, Nachitoches, and Sabine.
You need to get familiar with data available and get current before you make the statements you do. FYI, there are now more drilling rigs in Desoto Parish than all the other six parishes COMBINED!!!
The only thing down is leasing and the price/acre of lease bonus.
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Permalink Reply by d. blizard on
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Looks as if they are drilling along section lines and drawing gas from both section without paying on one section is this correct. If so we need someway to stop this practice. I don`t see how you can draw gas along the section line and not get gas from both sections.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Mr. blizard. The short answer is, no that is not correct.
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Permalink Reply by Spring Branch,mineral owner on
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CB are you on the ground in the Haynesville area or are you typing on your computer from a far away land? I'm guessing you are not located here. You and Bill Fowler have no idea. In fact, a Chesapeake rig is moving into my section today. I'm shocked every week by the number of wells permitted in the play. It is unbelievable.
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Permalink Reply by herefordsnshale on
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Chesapeake has almost half of T11N-R15W in DeSoto Parish permitted to drill, Parker sent me the list last week as I am still learning how to navigate the DNR pages. The bad thing is they're all going around my section, I'm in a doughnut hole!
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