Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on August 10, 2009 at 13:10

This may be a startling development for many members. And of concern to others. IMHO, there are two realities to take from this development. First, even Chesapeake makes mistakes when they are in a rush. Even one of their own creation. Aubrey doesn't know it all. And second, the "settling out" of which companies will decide to concentrate on which areas for long term development has begun. Chesapeake has chosen to concentrate on areas other than Cross Lake. That does not necessarily mean that the minerals around Cross Lake are of lesser value. It just means they will be produced by a company other than Chesapeake. The horse trading has begun as leasing becomes a lesser driving force and where to spend limited capital for long term development becomes the greater driving force. The Play is maturing. It's expansion will depend on the price of natural gas going forward.

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Permalink Reply by Checkmateking on August 10, 2009 at 13:26

Very well put Skip, but if I was CHPK I would have at least held what I could with verticals. When gas ramps back up, and it will, there is nothing wrong with a 5 million MCF well. Who knows? What do you think skip?

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Permalink Reply by Skip Peel - Mineral Consultant on August 10, 2009 at 13:34

I think that CHK did not wish to invest in development infrastructure in this part of the Play. And that they looked to assign their leases to another operator and there were no takers at the delay rentals that the Baron mentions. They are headed south. They will leave the 5 to 10 MMcfd wells for other operators. They have options. I expect Petrohawk to remain active in the 17N townships west and east of Shreveport-Bossier. And a mix of other operators to make development investments in the 18N townships.

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Permalink Reply by H P Bryant on August 10, 2009 at 17:02

Not to shoot down this line of thinking, I already saw a map and talked to surveyor concerning 17N and Pines rd. They showed a pipeline proposed to run E across Pines Rd over to Land of trees rd., N to Jeff. Paige rd. and west to ? whereever. This line is to service a well down flores rd, a well just east of Cockrell park and a well about four hundred feet N of that. Three wells covering sec. 14, and I think 13 & 12. This was surveyors that came out of the same building where Cheasapeake is.(Patterson Building) I guess things could have changed in 20days.

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Permalink Reply by Skip Peel - Mineral Consultant on August 11, 2009 at 2:34

HP. Don't read too much into the building the surveyors came out of. Chesapeake has zero HA Drilling & Production Units in 17N - 16 & 15W. Goodrich and Samson Contour have units and CHK may have Working Interest in their wells but this is obviously not an area of priority for CHK. Never has been as CHK had only one drilling unit in the area even when you include 18N - 16,15 & 14W.

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Permalink Reply by Two Dogs, Pirate on August 10, 2009 at 13:42

From the way I read this, they are giving up less and taking on more.

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Permalink Reply by J W on August 10, 2009 at 13:45

im in sec.33 18n 15w jolly napier we lease about 14 month ago with chk. it was a 3 year lease. there drilling a well in our township now. well 239892 is on the north side of the lake sec 25 18n 15w . it might be a good well no info on sonris yet.

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Permalink Reply by Two Dogs, Pirate on August 10, 2009 at 13:57

Wish you the best of luck J W.

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Permalink Reply by Skip Peel - Mineral Consultant on August 10, 2009 at 14:29

JW. Well Serial # 239892 (Woolworth 25) is not a CHK well. It is a Tellus Operating Group well. According to SONRIS.

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Permalink Reply by Catfish on August 10, 2009 at 14:09

Skip chk is drilling in 15/12/18n now and were in a hurry to get er done. Is this a make or brake well for chk as for as north goes? With PhK expanding north and east to the corner of 17n and 9w do you think that the N part of the play may to the east ?

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Permalink Reply by Skip Peel - Mineral Consultant on August 10, 2009 at 14:34

Catfish. The competition between CHK and HK is relatively recent in 18N - 12W. CHK has unit orders for Sections 13-16. HK Section 19. Samson Contour holds unit orders for 11 sections (8-10, 15-18, 21, 22, 23/26 and 24/25. CHK or HK or a combination of the two will probably end up as operator(s) in Samson's units.

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Permalink Reply by J W on August 10, 2009 at 14:35

ya its a tellus well i never said it was chk. but the well is drill and ther is no info on it yet.but if it is a good well and chk found out maybe . thats why there release the cross lake bottom

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