Is Encana ceasing to drill in the Haynesville?

Encana took two permits In December of 2011 to drill two wells on land that I own in Red River Parish, Louisiana.  The first of those two wells has just turned horizontal.  Both wells were to be drilled from the same pad but into different sections.

The farmer who has the agricultural lease on this land just phoned to say that an Encana Representative came to the well site today and told the crew (and the farmer) that Encana would not drill any additional wells in the Haynesville.  When the well they are drilling is complete, the rig will be moved away.  The second well on that pad, to go into an additional section, will not be drilled.  It was heard that Encana loses money on gas at less $3.50 and they are therefore cutting their loses. 

I do not doubt that my friend is accurately repeating what he heard.  However, does anyone know more about this?  Is this information accurate?

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Permalink Reply by GoshDarn on February 2, 2012 at 12:39

FYI.

A complex puzzle, to put it mildly.

Getting a read on this "Rubik's cube" takes the serious application of some savvy people algorithms, along with a sharp interpretation of intel and hard data (i.e., as to what has been released to the public and as to what remains hidden in the subtext of what hasn't been released to the masses).

In other words, it comes down to the proper analysis of the jigsaw pieces and knowing how to value/weigh the various opinions per the opinion-giver's skill sets (i.e., history of honesty, including an insider pro's background in the O&G biz), and also factoring in someone's mindset as to how they think (and their GHS track record of being right).

So, now I think I finally have a fair assessment of the truth, maybe at something like 80% in present time.

Thanks to all.



 

Permalink Reply by Martin Wampler on February 2, 2012 at 15:46

You guys are great, keep it up. How rewarding to get insight from all of you

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