The Word is OUT!!! Chesapeake tells ALL!!!
Here is part of of an article out today at 4:43 pm ET OKLAHOMA CITY & HOUSTON--(BUSINESS WIRE)--
“We have achieved outstanding drilling results in the play to date and believe Chesapeake’s expertise in developing shale plays provides us with an opportunity to see even better results in the months and years ahead. The initial production rates on the eight horizontal wells we have completed have ranged from 5 to 15 million cubic feet of natural gas equivalent (mmcfe) per day on restricted chokes at flowing casing pressures of up to 6,500 PSI. We believe these truly exceptional wells would have been capable of even greater initial production rates if produced on open chokes as Barnett and Fayetteville Shale wells commonly are produced. These production rates and flowing casing pressures, along with our geoscientific and petrophysical analysis of over 70 wells that have penetrated the Haynesville Shale to date, give us confidence that our mid-point EUR estimate of 6.5 bcfe for the Core Area of the Haynesville Shale is currently appropriate. This compares quite favorably to our Barnett Shale Core Area EUR average range of 2.5-3.0 bcfe and our Fayetteville Shale Core Area average range of 2.2-2.8 bcfe. To date, our costs to drill and complete horizontal Haynesville Shale wells have averaged approximately $6.5 million and we anticipate that we will be able to reduce these costs by at least 10% once full-scale development of the play is underway based on other shale play experience.
We have waited for this news for a long time!!!
“We have achieved outstanding drilling results in the play to date and believe Chesapeake’s expertise in developing shale plays provides us with an opportunity to see even better results in the months and years ahead. The initial production rates on the eight horizontal wells we have completed have ranged from 5 to 15 million cubic feet of natural gas equivalent (mmcfe) per day on restricted chokes at flowing casing pressures of up to 6,500 PSI. We believe these truly exceptional wells would have been capable of even greater initial production rates if produced on open chokes as Barnett and Fayetteville Shale wells commonly are produced. These production rates and flowing casing pressures, along with our geoscientific and petrophysical analysis of over 70 wells that have penetrated the Haynesville Shale to date, give us confidence that our mid-point EUR estimate of 6.5 bcfe for the Core Area of the Haynesville Shale is currently appropriate. This compares quite favorably to our Barnett Shale Core Area EUR average range of 2.5-3.0 bcfe and our Fayetteville Shale Core Area average range of 2.2-2.8 bcfe. To date, our costs to drill and complete horizontal Haynesville Shale wells have averaged approximately $6.5 million and we anticipate that we will be able to reduce these costs by at least 10% once full-scale development of the play is underway based on other shale play experience.
We have waited for this news for a long time!!!
Views: 143
Replies to This Discussion
-
Permalink Reply by nisie, not a happy camper landowner on
-
Could you verify well serial numbers are Williams #235919, Feist #236242, SRLT #237022 and Hunter #234022? Thanks.
-
Permalink Reply by BillBigD on
-
SHAQ- You are right on with your numbers
On the surface this equates to $15,000 per acre,
But PXP is carrying 50% of CHK's drilling and completion costs up to an additional $1.65 billion,
This carry boosts the per acre value to $30,000 per acre
-
Permalink Reply by Grillin' - MmmMmm on -
You can't take the money that PXP is investing in the "carry" and equate that to lease bonus money. Not directly at least. But it does show some "direction". Aubrey gets maximum leverage on his dollars! The guy knows how to make money! He owns a share of many wells and has personally invested in CHK's stock month after month. He puts his money where his mouth is!
-
Permalink Reply by Les Bamburg on
-
The following is a link to the news release on the Chesapeake website which includes a pdf file version of the news item.
http://phx.corporate-ir.net/phoenix.zhtml?c=104617&p=irol-newsA...
-
Permalink Reply by Deborah Taylor on
-
What is going on in North DeSoto Parish. Where is the best place to find out if permits have been issued and how do they contact landowers when a well begins to produce?
Also I see there is a meeting to discuss sesimic activity and what to expect, should we attend this on July 8th?
-
Permalink Reply by insomniacnla on
-
Deborah,
What group is meeting on July 8? Would love to know where and the time.
Thank you and good luck in your leasing.
-
Permalink Reply by Keith Mauck (Site Publisher) on
-
Chesapeake Conference Call July 2, 2008 9:00am
Chairman/CEO Aubrey McClendon (Summarized)
• Win-win partnerships between Chesapeake and PXP - Great news for Chesapeake shareholders
• Haynesville 4th largest gas field in the world
• Chesapeake has invested $2.5B in Haynesville
• Play just underway, data suggest 250TCS
• Barnett had 50TCS, which is only 20% of Haynesville –
• Our country should realize how blessed we are as a nation, especially during this time of record high gas prices – can be very helpful in converting to hybrids
• We are so confident because 3.5 M acres defined as core area
• These wells are in a class of their own – calling them “triple X monsters” – likely to get better over time – 8th well, 2 days ago brought on the best so far: 4.5-8.5 BCSE
• PXP partner – deep LA roots helpful as they develop Haynesville in the decades to come – if you snooze, you lose and Ches is not snoozing - Haynesville will develop similarly to Barnett but also differently – it will be easier than Barnett in some ways
-
Permalink Reply by Cooter on
-
Well I think we may have the actual names of the wells that were referred to in the conference call.
Feist
Williams
Hunter
SRLT
Chiggero
Clingman Acres
Bray
Sustainable Forest
Any of you close to these?
-
Permalink Reply by Cecil on
-
does anyone have a map (or a link) showing the locations of the completed/permitted Haynesville shale plays? That would sure be nice to see.
- ‹ Previous
- 1
- 2
- 3
- Next ›
Support GoHaynesvilleShale.com
Top Content
Blog Posts
The Lithium Connection to Shale Drilling
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
ContinuePosted by Keith Mauck (Site Publisher) on November 20, 2024 at 12:40
Not a member? Get our email.
Groups
-
San Augustine, TX
386 members
-
Miller County, Arkansas
27 members
-
Sabine Parish, LA
455 members
-
South Caddo Parish Group
440 members
-
Natchitoches Parish
400 members
-
Bienville Parish, LA
244 members
-
Fayetteville Shale
149 members
-
North Caddo Parish
358 members
-
Central Texas Gas
63 members
-
Cass County, TX
119 members
© 2024 Created by Keith Mauck (Site Publisher).
Powered by
