landowner

SM Energy Question??????

Have any of you seen any completions/ numbers on any of these wells? Have they completed any of them or are they waiting on frac dates still?  They have effectively HBP'd 5000+ acres without producing any gas from any of these well(that I know of) in 10 months. 30,000 acres in the Haynesville/Bossier "Texas Core" will supposedly be HBP'd by the end of Q1 2011 and not a single horizontal completion or report that I am aware of.  WHY?


Submitted 12/04/2009 Approved 12/10/2009          688238            405-30308         ST. MARY LAND & EXPLORATION CO. (810874)          IRONOSA           1H        06        SAN AUGUSTINE     Horizontal        New Drill         -         14000     Approved

Submitted 02/18/2010 Approved 02/19/2010         691531   419-31554        ST. MARY LAND & EXPLORATION CO. (810874)         HINTON   1H       06       SHELBY   Horizontal       New Drill        -        13000    Approved

Submitted 03/22/2010 Approved 03/25/2010         693245   419-31570        ST. MARY LAND & EXPLORATION CO. (810874)         CROCKETT         1H       06       SHELBY   Horizontal       New Drill        -        13000    Approved

Submitted 04/29/2010 Approved 05/05/2010          691531            419-31554         ST. MARY LAND & EXPLORATION CO. (810874)          HINTON            1H        06        SHELBY            Horizontal        New Drill         Yes       13000     Approved

Submitted 05/21/2010 Approved 05/25/2010         696408   405-30348        ST. MARY LAND & EXPLORATION CO. (810874)         LEWIS    1H       06       SAN AUGUSTINE    Horizontal       New Drill        -        13200    Approved

Submitted 06/28/2010 Approved 06/29/2010         698219   405-30359        ST. MARY LAND & EXPLORATION CO. (810874)         CLARK    1H       06       SAN AUGUSTINE    Horizontal       New Drill        -        13000    Approved

Submitted 07/06/2010 Approved 07/07/2010         698579   419-31608        ST. MARY LAND & EXPLORATION CO. (810874)         BOONE    1H       06       SHELBY   Horizontal       New Drill        -        13000    Approved

Submitted 09/01/2010 Approved 09/02/2010          701570            405-30378         SM ENERGY COMPANY (788997)        BISHOP            1H        06        SAN AUGUSTINE     Horizontal        New Drill         -         14000     Approved

Submitted 09/23/2010 Approved 09/24/2010         702690   405-30385        SM ENERGY COMPANY (788997)       DRAKE    1H       06       SAN AUGUSTINE    Horizontal       New Drill        -        14000    Approved 

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Replies to This Discussion

Permalink Reply by jffree1 on October 10, 2010 at 14:53
AL, Bishop and Drake in San Augustine and Boone in Shelby have rigs on them now. Hinton and Ironosa have had time to be completed but don't you think Ironosa has been waiting on pipeline? I don't know what the story might be on Hinton... it was finished drilling around the end of May or first week of June... plenty of time to complete it unless the pipeline isn't there.

Lewis, Clark & Crockett are probably waiting on completion. None have been finished drilling more that 8-10 weeks.

landownerPermalink Reply by ALongview on October 10, 2010 at 15:07
Thanks jffree1.
I wonder what the backlog is going to do to the supply situation overall?
I heard Petrohawk exec say that the wells should be costing $6.5 million at $4 gas instead of $10 million and service companies are charging as if gas was at $6. They also stated that they think that prices charged by well services will come down to reflect that in the near future. In your opinion will this be due to a slowdown in drilling or more competition coming to the market? A decrease would certainly help the smaller outfits that have to keep drilling to survive and may have something to do with the long waits.
On a positive note the Petrohawk exec also stated that the Haynesville/Bossier has 100 years worth of gas production in its future! That is an awesome thing.
Permalink Reply by jffree1 on October 11, 2010 at 2:31
"I wonder what the backlog is going to do to the supply situation overall?"

I have wondered the same thing. Hopefully, some of the wells will be completed through the winter. I would appreciate comments about the number of drilled/uncompleted wells in inventory because it appears, to me, to be significantly higher than this time last year.

Oil & Gas ProPermalink Reply by Les Bamburg on October 11, 2010 at 3:10
Jffree1, I do not have specific numbers but several operators have commented about the well backlog waiting on frac crews. I believe this is related to a couple of factors. First, drilling times have been significantly reduced. Second, rig counts were increased. Third, the continuous wear and tear on the pumping equipment has resulted in more down time for maintenance. The situation should improve in 2011 as new pumping equipment becomes available and increases capacity.
Permalink Reply by jffree1 on October 11, 2010 at 5:04
Thanks for your perspective, Les. It would seem that we need more companies competing to help keep prices down. Is there anything you've seen that indicates there might be additions to equipment inventory or new players in this market for pumping services?

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