We are hearing rumors that EOG is or has made plans to sell out their position in the Louisiana Chalk play due to poor results on initial test well and initial seismic result data from shoot. Does anyone have any verifiable information on this subject?
Are you asking if my presentation addressed more Avoyelles Parish drilling?
There is no way that anyone can predict that EOG or any other operator will do some more drilling in this Parish, but considering that the EOG is a "good show well" that has already made over a 100,000 BO from to toe down short lateral that appears to not be optimally drilled in the target interval does point to possibility of additional drilling.
Does anyone have any information as to who EOG has sold or is selling to?
Nothing has posted from EOG and any possible buyer @ this - assuming it ever happens right now.
The word for the time being is "patience" - things move slowly in the oil field / especially in terms of A&D issues.
EOG ⬇️ 6%; WTI ⬇️ 3%
EOG Resources to Present at Upcoming Conferences
EOG Resources to Present at Upcoming Conferences https://finance.yahoo.com/news/eog-resources-present-upcoming-confe...
”Macro Solutions Research analysts said they expect “continued strong growth in US shale, with producers set to add around 1.25 million barrels per day of crude and condensates over 2018 on an annual average basis”.
What a difference a day makes!!!
When companies like BP ($1.2 Billion) and Diamondback (total of $11 Billion) are purchasing assets in the Permian basin at these acquisition numbers, there better be a lot of O&G in those "shale" benches that they are acquiring. Both these deals were announced in the past month.
The one area has 5 to 7 horizontal target benches - a true "stacked" play.
Please indulge my sense of humor and concern, but Hollywood in 1976 foreshadowed the 80’s and let’s hope it’s different today. “Do you hear me Mr. Trump.”
Energy Sector Oversold???
I would not worry to much. When Cushing gets full to capacity, the market goes down, when Cushing shows it is not full to capacity the market goes up. It is true the US is reaching or has surpassed crude oil daily/monthly/yearly requirements and is turning into a net exporter. That and Iranian and Venezuela problems have cause the international oil market to bounce around. There is an overabundance of natural gas except it is not always in the right place at the right time. China is hungry for oil and gas. I believe the abundance of crude oil in the US is unwriting the economic boom (along with relaxed EPA and riddance of excessive regulation). I am long in MLPs, E&P, and big oil in my investments. Hang in there.
Trouble Down That Long Road?
What does this link have to do with the Austin Chalk? We all have access to the internet so we can find this if we want to.