Is EOG selling out of the Louisiana Austin Chalk
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?
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Replies to This Discussion
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Permalink Reply by East Tex on -
EOG is far from done with the play. Rumors are they possibly cut a fault that didn't show up on 2D. They have a tremendous amount of acreage to develop and the clock is ticking. To add to Jay's comments, Devon is a possible buyer.
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Permalink Reply by Spring Branch,mineral owner on -
Thanks for the info to both Jay and East Tex!
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Permalink Reply by preston dixon on
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Hope you every buys it will start to develop the field if feasible one way are other like to see something happen it just went to no activity at all
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Permalink Reply by East Tex on
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3D really needs to be acquired and processed in order for companies to have a tool for hazard avoidance, completion and Frac techniques.
Modeling of the 3D's are completely different than 10 years ago and acquisition parameters are designed specifically for Reservoir Optimization in mind.
Stay tuned.
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Permalink Reply by mudbug on
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Let's see EOG drills one well, not a total bust, canceles 3D shoot, puts lease block up for sale because the play is a bust? Seems odd that can be determined with one exploratory well as relates to their entire acreage position.
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Permalink Reply by John Matherne on
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Probably just flipping it for cash. Maybe be very profitable to do so.
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Permalink Reply by Skip Peel - Mineral Consultant on
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No one, including EOG, has said anything about the play being a bust. The company has simply shifted their focus to a different part of the fairway. If EOG isn't interested in their western leasehold other companies may be cautious about acquiring it. EOG is the most successful unconventional exploration and production company in the U.S. onshore. That don't make them infallible however.
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Point taken, then why back out of the whole 3D shoot? Rumor is just that, however, no one seems to be able to confirm or deny that it is just a portion of the lease block that is for sale. No doubt they are the best at what they do obvious reason for questions. Very contradicting position on their part after Eagles Ranch, 3D, SWD well permits, leasehold etc.
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Permalink Reply by Skip Peel - Mineral Consultant on
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The EOG move has been commented on previously by jay. Look up the page 8 or 9 replies back.
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Permalink Reply by littleasy on
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One and done, I doubt it, but stranger things have happened. That said, they did lease a large position, and the clock is running.
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Permalink Reply by William C. Morrison on
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Sitting in the middle of Pointe Coupee, well east of the Atchafalaya. Would like to see 3D seismic in our area. But I do not think much activity until the price of Crude reaches $80 a barrel.
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