Top Ten Louisiana Natural Gas Companies for 2019
Comstock* (Covey Park) 584,295,206 Mcf 981 Wells
Indigo* 462,835,936 Mcf 1181 Wells
Chesapeake 420,069,859 Mcf 854 Wells
Vine O&G 299,919,761 Mcf 431 Wells
Aethon (QEP)* 244,096,399 Mcf 2181 Wells
BPX (BHP) 208,341,058 Mcf` 1113 Wells
GEP Haynsville 204,904,511 Mcf 427 Wells
EXCO 125,264,815 Mcf 538 Wells
Range Resources* 85,404,729 Mcf 733 Wells
Goodrich 64,606,447 Mcf 54 Wells
Other companies of interest (the full state list is far too long to post here)
Hilcorp Energy + 38,926,870 Mcf 510 Wells
Ensight IV Energy* 34,651,271 Mcf 239 Wells
Tanos* 33,377,207 Mcf 688 Wells
Brix 32,991,211 Mcf 22 Wells
Nadel & Gussman* 22,937,459 Mcf 167 Wells
Tellurian 12,929,543 Mcf 28 Wells
Compass Energy* 12,388,123 Mcf 344 Wells
Blue Dome 9,548,457 Mcf 14 Wells
* Denotes inclusion of production from intervals other than Haynesville/Bossier. Range primarily LCV. Aethon and Ensight are primarily Haynesvile/Bossier however both have a large number of legacy Cotton Valley and Hosston wells. Tanos, Nadel & Gussman and Compass combination of Cotton Valley and Hosston. Nadel & Gussman has transitioned to Haynesville horizontal wells in last two years. Indigo still operates a number of Cotton Valley wells and occasionally drills some additional.
+ Hilcorp is the only company not producing from north Louisiana that has significant gas production.
I've been curious to see who the top players are in today's arena. Thanks for posting. Go go Indigo!
You're welcome, John. Just a little something to pass the time and entertain the members. Some may be surprised that after two large asset sales and little recent drilling, Chesapeake is #3. Imagine what Comstock's Haynesville footprint would look like if it ever completed the acquisition of Chesapeake's remaining Haynesville/Bossier assets.
The fact that north Louisiana is the driver of state natural gas production is brought home by the fact that the top south Louisiana producer is 38,926,870 mcf. It still amazes and disappoints me that we don't get recognized for our contribution to state production by mainstream media down south. There are still quite a few of the general public outside of north LA that have never heard of the Haynesville Play. The reason for this production imbalance is that south Louisiana has no unconventional reservoir plays and the majority of production is oil and condensate with only marginal volumes of associated gas from shallow and largely depleted vertical wells.
Whenever you hear the usual grumblings about severance taxes from industry, it is helpful to keep this fact in mind. Only a small portion of state oil volumes are taxed as "Full Rate". The vast majority of production, north and south, falls into the latter two categories: "Incapable" and "stripper". Personally I would be supportive of a reduction of the Full Rate as it is high compared to other oil producing states. That would however not be a great help, although the industry would welcome it, because of the "Deep Well" incentive that allows operators to pay nothing in tax for 24 months or until the well recovers its cost to drill and complete.
OIL SEVERANCE TAX RATES
12-1/2 % of its value at the time and place of severance.
It has not changed since 1974. For previous tax rate see Historical
Oil Severance Tax Rates page.
6-1/4 % of its value. Oil produced from a well that is incapable of producing
an average of more than twenty-five barrels of oil per day during
the entire taxable month, and which also produces at least fifty percent
salt water per day. On multiple well leases all wells must meet the criteria
to be able to qualify for the exemption.
3-1/8 % of its value. Oil produced from a well that is incapable of producing
an average of more than ten barrels of oil per day during the entire
on a related note, this week, I checked to see which, if any, companies are still permitting wells in DeSoto and Sabine. CHK permitted 3 in DeSoto in the last few weeks.
Did you notice anything unusual about those wells, Steve?
CHK mineral fee and State Agency tracts. CHK doing a reverse split to try and stave off BK. The light at the end of the tunnel is a train.
There is something else different about these permits.
they weren't CULs. didn't notice anything other than that.
That's what I noticed also. You know how long it has been since CHK permitted an alternate unit well that wasn't a CUL? Summer 2015. That along with Jay pointing out that three of the four recent permits are in units where CHK owns the surface and the mineral rights makes sense for a company struggling to stay afloat. That forth permit may have other some extenuating circumstance. It's not related to production volume so maybe a drilling commitment?
All three are listed as ALTs, does this mean they are going back to an existing well and/or pad?
Nope. The first well in a unit is the "unit well". All other subsequent wells producing from that unit, whether a CUL or a "within unit lateral" well, would be designated as an alternate unit well. I didn't check but they could very well be utilizing existing surface locations, no need to go to the expense of building a new pad.