I think it is Chesapeake that is paying the fines for not reporting..... but either way, a previous post is right, one "dry" hole won't slow down the per acre because the expectation is already there. Say there is a dry hole and the companies come out with half the bonus money - nobody would lease for a long while until they are sure it doesn't go up again. The companies don't want this gap in leasing because it slows any further development not just the Haynesville. Also, the stock price will fall like a rock. So my opinion is that bad well info doesn't benefit any side here, so most will be buried for now. You will really start to see bad news as they define the "four corners" of the play on the fringes.
I have already heard a rumor of a dry hole north of shreveport, north of I-220. But I would have to know a lot more about it before I would believe it, such as was it vertical or horizontal and how deep did it go. However, I also believe there is a strong chance that the rumor mill will be used to distribute dis-information in an effort to scare the landowners into thinking the companies might go away if they don't hurry up and sign.
I'm curious about a well that Ches. was drilling south of Greenwood on HW 169 just before it meets Providence Road. It is right behind the church there. We have land not far from there. Don't know if it is vert. or horiz. and if finished what results are. How can I find out. Does it have to be reported somewhere.
I would like to hear from anyone who knows more about these fines that companies have to pay for not reporting on the wells. I heard that they are fined $50,000/day. Is there any truth to that, or does anyone know the correct amount?
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More