Replies to This Discussion

Permalink Reply by Two Dogs, Pirate on May 19, 2013 at 13:18

According to an article in Upstream Newspaper dated May 3, 2013 which I have posted under Mississippi LSMK BD the writer of the article claims that  Southwest has an unnamed JV partner and is refining the play concept to focus on shorter laterals drilled into areas of the formation with abnormally high pressure.

Permalink Reply by North LA on May 19, 2013 at 14:42

I think all is correct except for the JV part. That fell through.

Permalink Reply by Jon on May 22, 2013 at 7:14

Piece from SWN presentation at USB Global Oil & Gas Conference

May 22,2013

Speak a little bit about our exploration plays. Our Brown Dense exploration project, which is in southern Arkansas and northern Louisiana, we've been active in that play for quite a while. We've drilled 8 wells, have production from 3 of those wells at sustainable rates and we're currently working on well #7, well #8 on the graph that shows those wells are currently in various stages of completion. And as we entered the year, we've talked quite a bit of various stages of partnering and whatnot. And we may get a partner, we may not, but we'll still move forward in this play. Kind of the -- what we're trying to crack or what we're trying to solve is getting an economic well; and two, getting -- understanding the frac system and how the best frac is rock. It's named Brown Dense for a reason. It's very dense rock, and we're working just try to solve that. What we do believe we have our grasp around now is economic wells. We've got our arms around what an economic well is, how can we get wells to economic numbers, which are roughly $10 million per well. So we think we're in the ballpark there. What we'll be working on, on well 7 and 8 and wells in the future, is the best frac recipe. Well 7, which is the Dean horizontal, is a multistage frac of roughly 15 stages. We'll frac that in various stages. We'll frac 1 through 5 wells or stages 1 through 6, I believe. We'll frac those in stages currently and we'll see how that responds to the frac-ing recipe that we attacked it with. We'll come back in later, frac other zones or other areas, maybe well or stages 7 through 12 or 7 through 11 or something like that. But we'll come back at various stages, try different frac techniques, to see how we can learn, how we can get to the ultimate frac design so it allows us to get to an economic project. We still have room to run, quite a bit to get there. Like I said, we think we've solved the well costs issue and now we need to understand if we can produce this at commercial rates.

Our DJ Basin project in Colorado. We have 300,000 net acres and we're active there. We've just re-entered a vertical well, the Staner well, shown on the picture. We've re-entered that, completed that as a horizontal well. And again, just like the Brown Dense well, we'll be completing that in various stages, trying to understand the best way to frac it, what we can learn from that well and that play to certainly attack and get to that -- those hydrocarbons.

Permalink Reply by whodat on June 7, 2013 at 12:53

I was told today from a credible source SWN parted the csg while fracking the 1st stage of the Dean well then decided to abandon 800' of well bore. While fracking the second time csg parted once again!!! Now SWN has rigged frac down.

Permalink Reply by North LA on June 7, 2013 at 15:18

What is csg?

Permalink Reply by whodat on June 7, 2013 at 15:19

csg=casing
supposedly they parted the casing while fracking the Doles well. SWN decided to use heavier casing without concrete on the backside for the Dean well. apparently it wasn't a good idea.

Permalink Reply by North LA on June 7, 2013 at 15:21

Got it. What would cause them to do that?

Permalink Reply by whodat on June 7, 2013 at 15:31

Im not familiar with the drilling side but he said it was a design company's use in other formations to line the csg.

Permalink Reply by North LA on June 7, 2013 at 15:39

Ok thanks

Permalink Reply by shale player on June 8, 2013 at 3:39

Rumor has it that the casing is collapsing during fracture operations due to some sort of earthquake created by the fracture operations.  SWN seemed to have the same type of problem in the Doles and BML wells where they had to give up some of the horizontal section.

This is just more bad news.  SWN may be forced to write down most of their acreage and write off the cost of their wells.  That would not be good for those that own land in the area or those who are buying SWN stock based on the (non existent?) upside of the LSBD.

This is a bad day for the area.  More American oil would have meant more American jobs in northern LA, less foreign oil and lots of landowners buying new American cars and American build mansions.

Bummer Willie. 

Permalink Reply by Sunny Chaw on June 8, 2013 at 5:07

I hope this is not true. There were tons of hopes riding on LSBD and the possibilities for Southern Arkansas and Northern Louisiana.

Permalink Reply by tony allen on June 8, 2013 at 7:01

The LSBD is under a large area of S. AR. and N. LA. and there has been less than a dozen wells drilled. More wells need to be drilled before LSBD is proven or not. Devon left the TMS and everyone thought that play was dead. Goodrich announced a well in the TMS that made 85K boepd in 3 months. One company is unsuccessful but the other company thinks the play has significant potential. I look forward to WLL,SWN,ANKOR and other operators results in the 2nd half of the year.

SWN has not made any statements about casing problems or "earthquakes" in the BML or Doles wells. or the inability to frac any portion of these wells. Sometimes rumors are unfounded.

SWN's stock is not dependent on the LSBD. They will take the tax deduction for the drilling and completing of their wells as this is standard. As far as writing down their acreage, no real value has been put on their balance sheet from LSBD acreage. Obviously they have spent 200 million on leasing but that money was in previous years of SWN's capex budget. Failure in the LSBD will not do significant harm to their stock.

I believe this is a good time for the area. There has been more drilling in the area in the last few years. There are multiple companies looking at multiple formations and spending money on leases and 3D seismic. I agree with Mr. Sanders and Skip, there is more in our area than the LSBD. Although I have not given up on the LSBD yet.

 

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