Oil found below the Haynesville.

Is a Smackover Rush Coming?

Wouldn't it be nice if there were a "liquids rich" play below the Haynesville Shale?  The Smackover formation, which underlies the Haynesville in northern Louisiana and southern Arkansas, has been known of for a long time but drilling it was not considered economical.  But technology has advanced over the past decade and some are thinking the Smackover might be the next big oil play.  An analyst with Jefferies & Co. is now predicting as much.

That would be pretty sweet.  The Haynesville has largely been shunned in investor circles for its dry gas.  It's not that I need the attention, but another round of leasing sure would be fun.  Since the Smackover lies below the Haynesville and most leases have a vertical Pugh clause that only doesn't allow a lessee to drill below their established production, new leases would be in order for most landowners.  Can't you see it?  We can right the  wrongs of the past or get another bite of the golden apple.

A couple of weeks ago, I  noticed a Smackover completion in Webster Parish, (serial #241685).  But it might be best to sit and wait to see how things go before rushing out to buy that brand new Cadillac.  Everyone is looking for the next oil/liquids play and investment analysts love to be the first ones to make a call.  Unfortunately, they are not always right.  Let's hope this guy is...

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Permalink Reply by Joel Abramson on February 5, 2011 at 11:05
Mr Souter had admonished Ms. Foote for her post. I responded to his Nanny post. He promptly removed it. Very novel of Mr. Souter to demand a strict code of conduct. He understands the irony, obviously.
Permalink Reply by Joel Abramson on February 5, 2011 at 11:21
Yeah, I am really starting to enjoy this thread. The more gossip and rumor concerning things the better. Hope springs eternal.
Permalink Reply by Guy Marsh on April 14, 2011 at 5:10

There is a difference between a "pugh clause" and a "depth severance", which is often referred to as a "vertical Pugh".  They are both very powerful, but completely different clauses.  If you need or would like an extensive explanation of the difference, reply to this thread. 

Permalink Reply by TAURUS on April 15, 2011 at 9:10

Guy ... Please elaborate on the Pugh Clause and the Depth Severance if you would.

Permalink Reply by Rozzy on April 15, 2011 at 7:16
 

That would be AWESOME!!! Our land is now lease-free and my family could surely use the attention. BEUSA, Energy leased our land and sat on it for the 3 years doing nothing.

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