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Permalink Reply by Les Bamburg on February 27, 2010 at 5:08

Skip, my general thoughts are it is not really much more costly to develop non-adjacent units. Pads can be set up to drill single units or multiple units. I would not be surprised to see adjacent operators share pads in the same way companies have co-operated in the evaluation of the Haynesville Shale. Heck, Exco is already making deals to drill other operators wells since all their acreage is HBP'd.

Each unit has to have separate production facilites (separators, etc) no matter who operates and most of the downstream services (gathering, treating, compression) are provided by 3rd parties anyway. The real synergies are in the those 3rd party services since they can contract with all operators in the area. This is the model that was used for years in the Permian Basin.

Gas prices are not likely to get too low to develop the main areas of the Haynesville/Bossier Shale as this is one of the most economic plays in the US.

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Permalink Reply by GHart on February 28, 2010 at 18:44

I just got finished dealing with a curative agent for SWE who basically said that most of the big/easy acreage is leased. Tons to be drilled, but mostly leased. Until some breakout occurs further south, SW isn't doing hardly any more. She had to get mine taken care of because, surprise, I'm in an existing, producing unit. I was also told Friday by a "big company" that another big one was pulling out; maybe Petrohawk. But again, they have all they can drill for years to come; and just maybe it's a ploy to scare everybody and get the price back down to what they think is affordable.

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Permalink Reply by Skip Peel - Mineral Consultant on March 1, 2010 at 2:23

March 1 (Reuters) - Petrohawk Energy Corp (HK.N) said it agreed to sell its interest in an Oklahoma asset for $155 million to a private company, marking the first of its four asset-package divestitures planned for this year.

The independent energy company said it estimated proved reserves of 23 billion cubic feet of natural gas equivalent (Bcfe) associated with its interests in the West Edmond Hunton lime (WEHLU) field, as of Dec. 31.

The deal for WEHLU, which currently produces about 12 million cubic feet of natural gas equivalent per day (mmcfe/d), is expected to close by the end of April.

The company also said it closed two deals for about $20 million, related to properties in the Mid-Continent region, representing about 7 Bcfe of estimated proved reserves and approximately 3 mmcfe/d of production.

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Permalink Reply by James Melroy Thompson on March 2, 2010 at 8:19

What units has Petrohawk formed in Desoto Parish?

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Permalink Reply by Les Bamburg on March 2, 2010 at 8:48

James, there are 49 units total for Petrohawk in DeSoto Parish but I do not have a listing generated.

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