This sale is part of an effort to sell 180,000 total acres of leases in Marcellus, Eagle Ford and Haynesville to divert additional capital to their new liquids plays. In looking at their map of acreage in the Haynesville, I'm guessing the 15,000 acres lies in Panola County.
They control units in DeSoto Parish down the Pleasant Hill Highway, LA 175, and I'm in one. I hope CHK is the buyer to simplify things. EOG initial production rates seem to lag.
If I remember correctly EOG was South of Many around the lake. I remember that for the most part I was the lone Landman in Sabine Parish for many months but there were times when EOG people were running title also. Then came Audubon (Encana/SWEPI). They started leasing around Belmont, big tracts, then moving to smaller as is general practice with a concept play. Nothing made since until an assignment was made from Audubon into Encana.
i can't imagine anything worse than going into a unit that is drilled and operated by SWEPI. I am in one unit operated by SWEPI. The well spud in December 2009, reached TD in February 2010 and nothing since. No frac, no perf, no report on Sonris. Look at SWEPI wells! When completed, no pipeline! When completed and turned to sales, worse production results of any large company (I leave out BEUSA and Camterra).
Shell is a million times better than some other small time operators, they are getting in gear. Just give them some time, I can't think of anyone who has more technical expertise and money than Shell.
WR, I am not defending them but some of this may be related to waiting on CenterPoint Field Services to complete their Olympia System (target end 2010).
You shouldn't defend them. Why would a dumb-ass drill a well in 2008 when Centerpoint wasn't going to complete a system until 2010?
I can cite numerous wells that are near CHK, XCO, HK, ECA, etc. where the initial, and really subsequent, production is well below their peers. SWEPI has the longest, best safety manual, but their drilling, completion, production performance SUCKS!
XCO has completed 70+ wells since 2009. The average IP for Desoto wells is 23 mmcfd. XCO has wells that have produced 2.8 bcf. Point to one SWEPI well that has produced 1 bcf. SWEPI has been there longer (in the HA. Shale) and done almost nothing!
As to Centerpoint, if you are efficient, you drill a $10MM well in a location where you can deliver to sales. ECA does it! Why can't SWEPI?
On the comments about shell Guy farms 24 has made around 300 mcf so far at a rate of 10 mcf a day, Rob 23 and Rob 15 both have made over 1 bcf blackstone 9 and 4 aren't the best of there wells but have each made around 600 mcf at a choked rate of 1.5 mcfd thats just a few of there wells that have been on line. You have to realize shell has billions of dollars more than any of these other companys and they will hold off production until prices go back up. Just remember there not in business for u there in it to make money for there self but remain respectful to the land owners at the same time. I admit shell can be a little slow but they didn't get rich making dump mistakes like some of the others.