ENCANA MAKES APPLICATION TO DISSOLVE 7 EXISTING 640 ACRE UNITS IN SLIGO AND 1 IN ELM GROVE AND REPLACE THEM WITH UNITS 815 TO 990 ACRES.

Link to application follows.

http://dnr.louisiana.gov/cons/CONSEREN/hearings/2010/09SEP/10-973&a...

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Permalink Reply by True Texan on September 4, 2010 at 17:50
Look right now gas prices are real low. These companies are running low on funds. They have leased a lot of tracs and need to lock them up with production wells. By taking 7 pools and then turning into say 3 or 4 pools makes it so they don't have to drill so many wells right now and they can keep the leases from expiring. If I was Encana I would be doing the same thing. If they hit a well in a larger pool the pay out is the same but to more people. It just means you will get a smaller check each month.

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