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Permalink Reply by Les Bamburg on March 6, 2009 at 4:11

Herefordsnshale, the attached gives a reasonable representation of the play at this time. It may be expanded in the future.

Attachments:

• Blob Maps1.pdf, 321 KB

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Permalink Reply by Les Bamburg on March 6, 2009 at 4:08

CB, I hate to disagree but several key players have stated all the big shale plays (Haynesville, Fayetteville, Marcellus & Barnett) are economic at $4.00/MMBtu). This is reason drilling capital is being shifted from other regions (Rockies, Mid-Continent, Permian Basin) to the big shale plays. There is sufficient pipeline capacity for the shale plays thru 2010 when additional projects will be required.

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Permalink Reply by Bobi Carr ("parker") on March 6, 2009 at 13:17

Gosh Darn,

Also don't forget, with all of the units being designated there are likely to be LOTS more of those proven super-volume "proven" horizontal shale wells.

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Permalink Reply by Bobi Carr ("parker") on March 6, 2009 at 13:41

Gosh Darn,

Kind of sounds like waiting is worth the risk to EARN more.

Yeah, it would be easy to just sign and take the easy money, but sometimes things are worth the effort.

Earning something is never easy, but usually worth the effort.

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Permalink Reply by CB on March 6, 2009 at 8:41

I'm sticking with my prediction. I've been in the business as a geologist for over 35 years, not that it makes me an expert. I do follow the nat gas business fairly well because I mainly drill for nat gas in S Louisiana. Did you know that only 30% of Barnett wells are profitable at $6.50.

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Permalink Reply by herefordsnshale on March 6, 2009 at 12:15

Thanks a lot Les and Parker, I checked out both maps. The price trend chart was interesting too. Gas does seem to be on a gradual, upward trend. I don't remember that big spike in the fall of '05, but then I wasn't paying close attention, I didn't have any minerals at the time.

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Permalink Reply by Two Dogs, Pirate on March 6, 2009 at 12:17

It was right after Katrina when all the rigs were down in the gulf.

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Permalink Reply by herefordsnshale on March 6, 2009 at 12:24

Oh yes, that makes sense.

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Permalink Reply by Two Dogs, Pirate on March 6, 2009 at 13:07

Fourteen bucks, I thought to myself Sh*******t.

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Permalink Reply by Les Bamburg on March 6, 2009 at 15:49

KB, the following were the Henry Hub prices during the Katrina/Rita aftermath:

8/05 - $7.65
9/05 - $10.97
10/05 - $13.93
11/05 - $13.85
12/05 - $11.21
1/06 - $11.45
2/06 - $8.46
3/06 - $7.13

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