Desoto Parish - Operations conducted by BEUSA in the Bethany-Longstreet Field have slowed to a crawl in 2009.  They appear to be in a great area and XTO has drilled several H wells in adjoining sections - but no action from BEUSA. 

 

Any comments on their lack of activity.

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BEUSA wasn't in the Bethany-Longstreet Field to drill horizontal Haynesville wells. They acquired the leasehold to drill Cotton Valley wells. They have drilled mostly vertical HA wells to date so that they can hold rights to the HA zone under existing leases with depth clauses. I don't think BEUSA had any prior horizontal completion experience. They probably were trying to make a deal in 2008 and held out too long. With no interested companies that have shale well experience knocking on their door, they are attempting to learn how to drill horizontal HA wells. I wish them luck for the sake of their lessors. Probably the best turn of events would be a joint venture or an out right sale of their deep rights to an experienced horizontal driller. You might wish to check their website periodically. It's under repair at the moment.

http://www.bridascorp.com/
Beusa has had a rig in section 10 12N 15W since Aug. 2009. They have drilled the vertical part of the well as of 1/3/10. We just found out that they are bringing another rig to drill the lateral section. I wish they had sold their rights to one of the big boys!!!
BEUSAs first vert. HA well was the David Mason sec. 27 13n 15w and it potentialed at 5405MCFD. They may have drilled some early verts. thinking that would be the norm. They completed a HA horizontal next door in sec. 28 that potentialed just under 10000MCFD.
Thanks for the info.
I wonder why BEUSA is not concentratinging on Horizontal Wells in the Bethany - Longstreet Field? The HA vertical wells seem to yield substantially less gas. What few wells BEUSA does drill seem to concentrate on verticals which are less expensive to drill but surely miss out on the great results. Spanish or English - the translation is the same:

Vertical well = 1 BCF & Horizontal well = 5 BCF

Seems as though the other Operators - XTO, CHK, HK, ECA, XCO, El Paso - have all gotten the message!
john, it's called HBP and makes all the sense in the world from BEUSA's perspective. In fact there are a lot of companies in the Play just like BEUSA. Good leasehold, no horizontal completion experience. Not to mention the financial inability to fund a horizontal drilling program.
Total agreement there, however, when BEUSA encounters major operators drilling HA horizontals 560' from their section line - they seem to be missing the point &/or losing the gas from drainage. Just my humble thoughts as an owner in a section where for whatever reason BEUSA is passively not capturing the gas within our square mile, while XTO is zipping out a huge lateral immediately next door.
You are not losing any gas to surrounding drilling units. The shale is impermeable and will not give up it's gas until the formation is fractured. The laterals in the surrounding sections by state regs can be no closer than 330' from the unit boundary. BEUSA can't get a premium price for their HA leasehold no matter how prospective or proven since they missed the summer '08 value peak. By drilling one vertical in each section, they can hold the leases in force for years hoping for better days or prove that they can successfully drill a HA horizontal in which case they may get some capital from outside sources to fund a horizontal drilling program.
Skip, do you have any specific knowlege of BEUSA being short on capital?
Nothing specific, SB. I'm just making the point that it takes knowledge and ready capital to execute a horizontal drilling program. Two tall hurdles for many companies that are just finding themselves with an opportunity (prospective leasehold) and no experienced partner to lead the way.
Jay, aren't they a private as opposed to public company
Named "Bridas"?

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