landowner

"I almost got excited!"

        Wow! $4.00 gas. Nice to see that number four in the front.

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 27, 2013 at 2:39

I agree with Jay.  Somewhere between $4 and $4.50 all the major operators will incease drilling.

Permalink Reply by tc on March 27, 2013 at 3:45

IMHO it won't happen this year as drilling budgets are already set, also E&P companies will want to see how NG prices react to the injection season.  For next year I could see the Marcellus shale getting more of the dry gas drilling budgets as more acreage there is not HBP.  One big wild card is Chesapeake, will they still be an independent company next year and exactly what assets will they still own.


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 27, 2013 at 4:58

Some major Haynesville operators will not wait for $4-$4.50 gas.  These permits posted today for EnCana.

RED RIVER

01

246171

HA RD SUJ;EDGAR CASON 35-26 HC

001-ALT

27-MAR-13

E165

035-14N-11W

7651

RED RIVER-BULL BAYOU

21500

RED RIVER

01

246172

HA RD SUJ;EDGAR CASON 35-26 HC

002-ALT

27-MAR-13

E165

035-14N-11W

7651

RED RIVER-BULL BAYOU

21500

RED RIVER

01

246173

HA RD SUJ;EDGAR CASON 35-2 HC

001-ALT

27-MAR-13

E165

035-14N-11W

7651

RED RIVER-BULL BAYOU

21500

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 27, 2013 at 5:49

There were 57 undrilled Haynesville permits starting March.  In the last two weeks there have been 15 additional new wells permitted.


landownerPermalink Reply by Bobi Carr ("parker") on March 27, 2013 at 5:56

I bet all of them contain ALT in their name.


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 27, 2013 at 6:24

Nope.  Only 4 of the 15.


landownerPermalink Reply by david crocket on March 28, 2013 at 13:46

I don't know much about the gas wells, but could you please tell me what the alt means and signifies?  thanks


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 28, 2013 at 13:55

The first well drilled in a unit is the unit well.  Every well thereafter is an alternate unit well.  Alt-1, Alt-2, Alt-3, etc.  As long as the unit well is producing in paying quantities it holds the lease(s) in force.  Drilling alternate unit wells just increases supply and holds down the price of natural gas. 


landownerPermalink Reply by Bobi Carr ("parker") on March 28, 2013 at 16:02

...but they are cheaper for the company, because the infrastructure is already there.


landownerPermalink Reply by reallyoldguy on March 27, 2013 at 12:51

Skip, I assume these are just LA well permits.  Or, are they LA and TX well permits total?


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 27, 2013 at 12:52

Just Louisiana.


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 27, 2013 at 12:01

Cross unit laterals are becoming more common. And not just for HA drilling units.

http://ucmwww.dnr.state.la.us/ucmsearch_070611/UCMRedir.aspx?url=ht...

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