OIL AND GAS NEWS - MAY 25, 2014 - shreveporttimes.com

OIL & GAS

LOCATIONS

CADOO PARISH

BHB Oil Inc. Soniat B. 001, Sec. 6, T16N. R16W, Greenwood-Waskom, 2500 MO. Fredricksburg.

BHB Oil Inc., Soniat 6H, 001, Sec. 6, T16N, R16W. Greenwood- Waskom, 5445' MD 2445' TVD. Fredricksburg.

BHP Billiton Petro (KCS Resources) LLC Hutchinson 9, 008, Sec, 9, T15N, R12W, Elm Grove, 16400' MD 12050' TVD, Justiss.

BHP Billiton Petro (KCS Resources) LLC Hutthinson9, 009, Sec. 9, T15N, R12W, Elm Grove, 16495' MO 11400' TVD, Bossier stringer.

BHP Billiton Petro (KCS Resources) LLC HA RA SUYY; Hutchinson Heirs 17-8hc, 1-alt. Sec. 17. T15N, R12W, Caspiana. 19213' MD 130001 TVD, Haynesville RA.

BHP Billiton Petro (TxLa Operating) Co., HA RA SUYY; Hutchinson Heirs 17-20hc. 2-alt Set. 17, T15N. R12W, Caspiana, 20000' MD 11600- TVD, Haynesville RA.

Chesapeake Operating, HA RA SUYY; Evans 4-14-15H. 001-alt, Sec. 4, T14N, R15W, Bethany Longstreet,  MD 13000' TVD, Haynesville RA.

Chesapeake Operating, HA RA SUYY; Evans 4-14-15H, 002-alt Sec. 4, T14N, R15W, Bethany Longstreet 18000- MD 13000- TVD, Haynesville RA.

Chesapeake Operating Inc., HA RA SUYY; Terrell 4-14-15H, 002-alt, Sec. 4, T14N, R15W, Bethany Longstreet, 18000- MD 13000- TVD, Haynesville RA.

Kelly Bayou Production, Little, 012, Sec. 25, T22N, R16W, Caddo Pine Island, 1200' MD, Nacatoch.

CLAIBORNE PARISH

Petro-Chem Operating Co. Inc.. LCV RA SUC; Thistlelands 17,002, Sec. 17, T21N, R4W, Lisbon, 9300* MD, Cotton Valley.

DESOTO PARISH

BHP Billiton Petro (TxU Operating) Co., HA RA SU67; Broadway 32-29hc, 1-att.Sec.32.T15N, R12W, Caspiana. 17350' MD 13257- TVD, Haynesville RA.

LINCOLN PARISH

Nadel and Gussman Ruston LLC, CV RC SUB; Bank of Choudrant 10, 001. Sec. 10. T18N, R2W, Choudrant, 11600- MD, Cotton Valley RC

Nadel and Gussman Ruston LLC Hall SUB; Britt 23,002-alt Sec 23, T20N, R4W, Hico-Knowles,9200' MD, HaII sub.

Nadel and Gussman Ruston LlC, Hall SUB; Farley et al 24, 001-alt, See. 24, T20N. R4W. Hko- Knowles, 9200' MD. Hall sub.

Wild Horse Resources LLC, LCV RA SUK, D.L Sanford 18-7HC, 001, Sec. 19. T19N, R4W, Terryville,19200' MD 11204' TVD, LCV RA.

RED RIVER PARISH

Chesapeake Operating he, HA RA SUZ; Waerstad 11&2-14-12HC. 001-aft, Sec. 12, T14N, R12W, Thorn Lake, 18900' MD 12200' TVD, Haynesville RA

 

COMPLETIONS

BOSSIER PARISH

COMPANY: EnCana Oil & Gas (USA) Inc., HA RA SUT; Lucky Family 17-20HC 1; 246970. WHERE: Sligo, 517. T. 17N R. 12W. DAILY PRODUCTION: 23,028 mcf gas on 27/64 choke; n/a barrels n/a gravity condensate; 600 barrels water. PRESSURE: no tbg Ibs. SPECIFICS: Haynesville, perforations, 11,402-17,839 feet depth, 18,524 feet.

DESOTO PARISH

COMPANY:BHP Billrton Petro (KCS Resources) LLC HA RA SUM; Evans 4H, 2-alt: 245977. WHERE: Caspiana, S 9. T.14NR.12W. DAILY PRODUCTION: 9,197 mcf gas on 16/64 choke; 0 barrels n/a gravity condensate: 150 barrels water. PRESSURE: 7,504 Ibs. SPECIFICS: Haynesville RA; perforations, 12,257-16,610 feet, depth, 16,698 feet.

COMPANY: BHP Billiton Petro (TxLa Operating) Co., HA RA SU139; Evans 9H 1-att: 245975. WHERE: Caspiana, S 9. T. 14N R. 12W. DAILY PRODUCTION: 8,704 mcf gas on 16/64 choke; 0 barrels n/a gravity condensate; 40 barrels water. PRESSURE: 6,864 lbs. SPECIFICS: Haynesville RA perforations, 12,187-16,772 feet depth, 16,845 feet.

COMPANY: BHP Billiton Petro (TxLa Operating) Co., HA RA139; Evans 9H, 2-alt: 245976. WHERE: Caspiana, 5 9. T. 14N R. 12W. DAILY PRODUCTION: 8,853 mcf gas on 16/64 choke; 0 barrels n/a gravity condensate; 65 barrels water. PRESSURE: 6,816 Ibs. SPECIFICS: Haynesville RA; perforations, 12,283-16,856 feet, depth, 16,955 feet.

COMPANY: Chesapeake Operating Inc., HA RD SUV; Gamble 24 & 25-14-12HC, 001-alt 246774. WHERE: Red River Bull Bayou, S24. T. 14N R, 12W. DAILY PRODUCTION: 16,320 mcf gas on 22/64 choke; 0 barrels n/a gravity condensate; 264 barrels water. PRESSURE: 7.320 Ibs. SPECIFICS: Haynesville RD; perforations, 12,912-17,742 feet depth, 17,947 feet.

COMPANY: Chesapeake Operating Inc., HA RD SUV; Gamble 24 & 25-I4-I2HC 002-alt: 246775. WHERE: Red River BuII Bayou, S24. T. 14N R. 12W. DAILY PRODUCTION: 15,672 mcf gas on 22/64 choke; 0 barrels n/a gravity condensate; 504 barrels water. PRESSURE: 7,740 Ibs. SPECIFICS: Haynesville RD; perforations, 12.618-17,765 feet depth. 17,970 feet.

COMPANY: EXCO Operating Co. IP, HA RA SU145; Donner Prop 33, 004-alt: 247225. WHERE: Caspiana. S 33. T. 1SN R. 13W. DAILY PRODUCTION: 13,177 mcf gas on 18/64 choke; 0 barrels n/a gravity condensate: 240 barrels water. PRESSURE: n/a Ibs. SPECHCS: Haynesville RA, perforations, 12.376-16.402 feet depth, 16,509 feet.

COMPANY: EXCO Operating Co. LP, HA RA SU145; Donner Prop 33, 005-alt: 247226. WHERE: Caspiana, S 33. T. 15N R. 13W. DAILY PRODUCTION: 12,429 mcf gas on 19/64 choke; 0 barrels n/a gravity condensate; 198 barrels water. PRESSURE: n/a Ibs. SPECHCS: Haynesville RA: perforations, 12,219-16,402 feet depth. 16,505 feet.

COMPANY: EXCO Operating Co. LP, HA RA 145; Donner Prop 33, 006-att: 247227. WHERE: Caspiana, S 33. T. 15N R. 13W. DAILY PRODUCTION: 11,866 mcf gas on 18/64 choke; 0 barrels n/a gravity condensate; 192 barrels water. PRESSURE: n/a Ibs. SPECWCS: Haynesville RA; perforations, 12,132-15.982 feet. depth, 16,084 feet.

COMPANY: EXCO Operating Co. LP. HA RA SU145; Donner Prop 33, 007-alt 247228. WHERE: Caspiana, S 33. T 15N R 13W. DAILY PRODUCTION: 13.321 mcf gas on 18/64 choke; 0 barrels n/a gravity condensate; 216 barrels water. PRESSURE: n/a Ibs. SPECIFICS: Haynesville RA; perforations, 12,181-16,332 feet, depth, 16,430 feet.

COMPANY: EXCO Operating Co. LP, HA RA SU145; Donner Prop 33, 008-alt: 247229. WHERE: Caspiana, S33.T. 15N R 13W. DAILY PRODUCTION: 11,654mcf gas on 18/64 choke; 0 barrels n/a gravity condensate; 168 barrels water. PRESSURE: n/a Ibs, SPEOFICS: Haynesville RA; perforations. 12,258-16.409 feet, depth, 16,527 feet

RED RIVER PARISH

COMPANY: EnCana Oil & Gas (USA) Inc.. HA RD SUQ; Bertolla 30-31HC, 001-att: 246828. WHERE: Red River Bull Bayou, S 30. T. 14N R. 10W. DAILY PRODUCTION: 21,865 mcf gas on 25/64 choke; n/a barrels n/a gravity condensate; 840 barrels water. PRESSURE: no tbg bs. SPECIFICS: Haynesville, perforations, 12,687-20,129 feet depth, 20,275 feet.

COMPANY: EnCana Oil & Gas (USA) Inc., HA RD SUQ; Bertolla 30-31HC. 002-aIt: 246829. WHERE: Red River Bull Bayou, S30. T. 14N R. 10W. DAILY PRODUCTION: 21,873 mcf gas on 2*64 choke: n/a barrels n/a gravity condensate; 576 barrels water. PRESSURE: no tbg bs. SPECIFICS: Haynesville RD; perforations, 12,608-19,849 feet, depth, 19,962 feet.

COMPANY: EnCana Oil & Gas (USA) Inc., HA RD SUK; Edgar Cason2-35HC 1-alt: 246254. WHERE: Red River Bull Bayou, S 2. T.13NR.11W. DAILY PRODUCTION: 21,466 mcf gas on 25/64 choke; n/a barrels n/a gravity condensate; 843 barrels water. PRESSURE: no tbg Ibs. SPECFICS: Haynesville; perforations, 12,754-19,791 feet depth, 19,922 feet.

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Replies to This Discussion

Permalink Reply by adubu on May 27, 2014 at 11:05

Skip---- it appears that drilling is increasing some in HS from last year data ?

Permalink Reply by Skip Peel - Mineral Consultant on May 27, 2014 at 11:13

I think so.  Several times lately  I've started to add up rigs drilling Haynesville Shale however it would take more time than I presently have to make sure which rigs in E TX are drilling HS.  Add in the multiplier for Cross Unit Lateral wells and it's a considerable amount of activity.  More telling IMO is the appearance of some offers to lease HS by speculators where leases by the first wave of Haynesville operators have expired.

Permalink Reply by adubu on May 27, 2014 at 11:19

Are you seeing speculator flipper buying leases now? That a good sign but mineral owners should beware of what they sign

Permalink Reply by tc on May 27, 2014 at 11:45

Doug Cox in the Red River parish group posted that he was just offer $500 & 20% and when he stood firm at 25% they walked without any more discussion.  That to me sounds like a speculator flipper.  Or worse that the new royalty rate is going to be 20%.  I have noticed in many new plays like the Marcellus & TMS that 20% royalty is the going rate.

From another website they say that 26 rigs are drilling the Haynesville, 17 in LA and 9 in TX.

Permalink Reply by Skip Peel - Mineral Consultant on May 27, 2014 at 12:01

There are several categories of "flippers".   Any company that doesn't  plan to operate (drill) can't make their deals work at a quarter royalty.  The operators they would hope to flip to need/require a minimum 75% net revenue interest in their leasehold.  In the Haynesville Play I expect some speculation is based on an expectation of increased demand and price of NG over the next two years.  In the Marcellus and TMS I think that there are companies that basically have all they can drill over the next two plus years and unleased mineral owners who feel left out.  That's a situation that flippers can exploit.

Permalink Reply by adubu on May 27, 2014 at 12:18
Skip,shaleGeo -- don't read me wrong --- We need Speculators in the market and it's a good sign IMO. The mineral owner just needs to be aware of what they sign and may be only way they will get a lease plus get chance to get well drilled. 20% is becoming the norm even lease by operator
Permalink Reply by Skip Peel - Mineral Consultant on May 27, 2014 at 12:43

Re: Speculators.  No matter what party ultimately ends up drilling a lease, the terms of the lease must be honored.  Therefore anyone who feels satisfied with the terms, whatever they may be, should execute the lease and not look back.  Attempting to squeeze the very last advantage out of a lease negotiation involves some risk.  I receive numerous communications regarding lease offers and without exception those with one fifth royalty and/or split royalty by depth come from parties that I do not believe will ever drill.  I see royalty offers by operators across a number of plays that are 22.5% and 25%.  It's easy to consider 20% the new norm if you are unaware of those offers.

Permalink Reply by adubu on May 27, 2014 at 13:00
Skip-- good to know in some area up to 25% R is still possible with good negotiation skills---I completely agree with your comments above --
Permalink Reply by Spring Branch,mineral owner on May 29, 2014 at 6:00

With the exception of a lease to CHK, part of the consideration of the royalty rate should still be cost-free vs not cost free.  Personally I would rather have a 1/5th royalty that is truly cost free than a 22.5% royalty that is not.  Same with 22.5% vs 25%.

Permalink Reply by jffree1 on May 27, 2014 at 13:21

There are four rigs in Panola, three in San Augustine and two in Shelby. A step up from January for San Augustine and Shelby (-0-). Anadarko dropped three rigs in Panola from the six they ran last year.

Permalink Reply by Skip Peel - Mineral Consultant on May 27, 2014 at 13:45

Were the APC rigs dropped drilling HA?

Permalink Reply by jffree1 on May 28, 2014 at 3:34

Yes, they ran five rigs on HA wells exclusively last year and one they moved between HA and CV. Then they moved two of them to Bossier and Caddo but the Bossier rig moved back to Panola last week (Nabors X12). One went over to Houston Co. (Scan Spirit) a couple of weeks ago for another operator. They still have a Nabors rig (M24) drilling CV in Rusk Co. which could come back to Panola at some point. Nabors X12, Scandrill Endever and Trinidad 135 are in Panola on HA as of last week.

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