Since Chesapeake bought Wildhorse they have pivoted to East Texas at the expense of the Haynesville. It is sad that you can complete wells at 47 MMCFD and 34 MMCFD and Wall Street does not care. 81 MMCFD from one pad. These two new wells are in Southern Caddo Parish just NE of Spring Ridge. Attached is the Haynesville portion of their newest slide show.
It is the PDF. It is attached.
Jay I think I read in one of Chesapeake's investor calls that they were only going to leave one rig working the Haynesville and all others moving to the Wildhorse area. I think I read that in early April and it makes sense. That rig was last drilling Sec. 21 T14 R 15 in Keatchie and is probably completed with that by now. I look at Sonris and it shows the absence of Chesapeake with just a few oil and gas permits scattered over the state.
Yep, I believe that later this year Chesapeake will put either the Haynesville or the Marcellus or both up for sale. Wall Street does not like dry gas.
Maybe that will get their share price above $2???? Remember when it was $60? Even I feel sorry for any employee who had that in his 401k.
I would like to see CHK sell to a company that does not sell their gas to a subsidiary marketing arm thus taking an extra cut of the lessor or UMI's gas. Can we say "non-arms length transaction?" Hi Henry, long time no hear from.
I'm still around. Just reading more than commenting.
Many public companies were forced to sell their midstream units to raise cash. With this sale the buyer demanded thru put charges and guaranteed volumes. Double whammy as it cut the price the landowner gets for gas and caused wells to be drilled to meet the volume commitment. Some got rid of these charges via the bankruptcy court. CHK may end it there too.
XTO currently has two rigs drilling south of Shelbyville.