Replies to This Discussion

Permalink Reply by ken hatcher on November 16, 2010 at 11:21

I suspect most of the 27 are in South Texas, you could see it coming.

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Permalink Reply by benny688 on November 16, 2010 at 14:59

November 2, 2010 Petrohawk announced they intend to cut their rig count on the Haynesville from 16 to 7 in 2011, so next year will probably be a lot worse.

GLTA

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Permalink Reply by Skip Peel - Mineral Consultant on November 16, 2010 at 15:41

Petrohawk announced that they will have drilled to HBP their entire existing leasehold by summer 2011. The first major Haynesville player to do so. After that they do not have to drill any new wells.

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Permalink Reply by Jack Blake on November 16, 2010 at 16:29

They will have to send mailbox money cried Jack Blake. WAHOOOOOOOOOOOOOOOOLONGLIVEHAYNESVILLESHALECFRIEDJACKBLAKEWAHHHHHHHHHHHHHHHHHOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO for Petrohawk!!!!!!!!!!!!ANDTHEHAYNESVILLESAHLELANDOWNERS!!!!!!!!!!!!!!!!!!!WAHOOTHEYALLCRIEDDDDDDDDDDDDD

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Permalink Reply by Les Bamburg on November 16, 2010 at 16:41

Skip, some operators are already near 100% HBP'd and reduced rig count.

By the way, Petrohawk will not have HBP'd their entire existing leasehold but rather the leasehold they plan to keep.

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Permalink Reply by Skip Peel - Mineral Consultant on November 16, 2010 at 17:36

Yes, Les, I am aware that there are some operators already near 100% but they are not among the major lease holders in the Play. And you may be right about Petrohawk but that's not the way Floyd stated it. His quote was in fact quite close to my statement above.

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Permalink Reply by Les Bamburg on November 16, 2010 at 19:03

Skip, note the use of the word "key" which is just code for - even though a lease expires it was not key to our plans. The same is true for all the major players such as EnCana, Chesapeake, Exco/BG, Devon, Questar, EOG, etc.

Indications are EnCana and Chesapeake will both be HBP'ing their critical acreage around the same time as Petrohawk.

"At the time when all of our key acreage there will be held by production..."

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Permalink Reply by Skip Peel - Mineral Consultant on November 17, 2010 at 2:58

Les, I disagree.

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Permalink Reply by Skip Peel - Mineral Consultant on November 17, 2010 at 4:59

Petrohawk is the only major Haynesville operator to drastically decrease their recording of leases. HK has recorded leases on only 6 tracts in DeSoto Parish in the last 100 days. And 1 for the same period in Sabine. The only way to HBP undrilled leasehold in the short term is to stop taking leases. For those who would care to review the public record, and don't have remote access, I recommend the Sabine Parish Clerk of Court filings that I post to that group page listing the companies that continue to lease in the southwestern end of the Play.

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Permalink Reply by Les Bamburg on November 17, 2010 at 5:16

Skip, I think some operators are just leasing in units they already operate and intend to drill anyway.

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Permalink Reply by Skip Peel - Mineral Consultant on November 17, 2010 at 5:21

Absolutely. I think that explains the Petrohawk leases. However the leasing in Sabine and DeSoto parishes by other operators doesn't support that conclusion if you look at the last 100 days of recorded leases. I believe Floyd because the public record appears to confirm his statement that Petrohawk will be fully HBP'ed by summer.

Permalink Reply by P.G. on November 17, 2010 at 5:26

Is the "Sweet" spot really a sweet spot or just the most economical spot to drill out of a much larger area due to it being sparsely populated?

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