There have been sporadic reports of leasing in Vernon and Beauregard associated with the renewed interest in the Austin Chalk. Panther Energy III was promoting their Bloodhound prospect at the Summer NAPE.
Summer NAPE: Oil Companies Look To Form Partnerships
Velda Addison Senior Editor, Digital News Group Hart Energy Friday, August 17, 2018
Exhibitors at Summer NAPE in Houston were given a chance to talk about prospects as they sought partners. (Source: Shutterstock.com)
HOUSTON—Nearly a dozen companies took center stage during Summer NAPE to each give eight-minute pitches, hoping to lure partners for exploration, development and production opportunities in the U.S.
Among them was Josh Cornell, vice president of land for Panther Energy Co. III, who presented a Louisiana Austin Chalk opportunity—the Bloodhound prospect—in Vernon and Beauregard parishes.
“We have 50,000 net acres, mostly 100% ownership tracts. It’s a large contiguous, scalable footprint,” Cornell told a crowd gathered Aug. 15 to hear the prospect preview pitches. “We project over 26 operated DSUs [drill spacing units].”
He added the deep overpressured Austin Chalk Formation is built for long laterals with the company’s asset having a TVD range between 14,000 ft and 16,000 ft.
The Austin Chalk, which spans over 600 miles from the Mexico border into Mississippi, has sparked renewed interest from oil and gas players such as ConocoPhillips and Marathon Oil Corp., which added the play to their exploration portfolios.
Others are already seeing success. EOG Resources, which completed five wells in the South Texas Austin Chalk in second-quarter 2018, captured the spotlight in 2017 when the Eagle Ranch 14-1H well in Avoyelles Parish tested at a rate of 1,120 barrels of oil per day and 1,157 million cubic feet of gas per day.
Equinor has acquired a parcel of exploration acreage in Louisiana for about $75 million as the Norwegian player expands in the US onshore scene despite earlier billion-dollar asset writedowns.
The state-controlled company has gained around 60,000 net acres (243 square kilometres) in the Austin Chalk play of Louisiana from Houston-based seller Texegy under the newly closed deal.
“This investment provides Equinor with a low-cost entry point to an emerging region of a well-known and prolific onshore play. We will now test the potential of the acquired acreage,” an Equinor spokesman stated in an emailed response to Upstream.
No decision has yet been made on exploration drilling work in the area.
Suggest you join the Austin Chalk group and read this discussion. If you click on the link in the discussion title you will see the area included in this unit application.
No one is going to throw good money after bad drilling the chalk in those two parishes. The target has always been to use chalk wells to tie up the leaseholds in perpetuity for the deeper Tuscaloosa gas formation. 'Course, that didn't work out so well. The chalk wells often came up dry or almost dry even before prescription had run.
Generally an accurate assessment, BZ, however the EOG matrix approach does not depend on intersecting natural fracture networks. That was the "old" play as you describe. The "new" play appears to intentionally avoid highly fractured areas.
What two Parishes ?
Vernon and Beauregard.
There is now a Vernon Parish Group.