The Curious Case of SAMSON CONTOUR

Recently several members have asked me about Samson Contour. I originally ran across SC while researching my blog post on the history of the Haynesville Shale. The first recorded Haynesville application that is in the core area of the play, and therefore shale as opposed to sand, was filed by SC on January 9, 2007 for 3 Drilling & Production Units in the Martin Field, Red River Parish. That application hearing was "Not Held". I see no other SC unit activity related to the Haynesville Shale until Sept. 30, 2008, twenty months later. Fourteen months after other operators had begun applying for HA units.

Since Sept. 30, 2008, Samson Contour has applied for HA unit designation covering 69 sections scattered over the play. It would seem they are making up for lost time. The question on the minds of many landowners and GHS members is one of capability. Technical and financial. Does SC really plan to be the operator in these units? Or is this unit application process an attempt to lure a larger, more capable join venture partner(s).

If you will excuse the amateurish cut and past job and hand written notes which follow in the attachment, review some of the information on SC that is available on SONRIS. The top portion of the list are wells by SC since Nov. 2007. There are fifteen total. I have noted three as status code 03 (Permit Expired), one as status code 18 (Temporarily Abandoned Well) and one as code 29 (Dry & Plugged). Of the remaining ten, three are not within the bounds of the Haynesville Shale prospective area. Of the seven left, five are permits though probably drilling and two are completed and producing wells. Samson Contour has one producing Haynesville vertical well and zero completed horizontal Haynesville wells.

I invite the members to join in a little group research project to find out more about Samson Contour. The parent company is Samson Energy and a division, Samson Lonestar, is active in the E. TX. portion of the play.

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Permalink Reply by Skip Peel - Mineral Consultant on March 11, 2009 at 2:31
As Haynesville Shale development moves into the next phase defined more by drilling and production than leasing, I believe more members will become curious about the lesser known operators involved in the play. Especially their capabilities and development models. I thought we would start with Samson Contour because they are extremely active in applying for drilling and production units yet have little current drilling activity. Before starting a discussion on the next HS operator, I invite the members to give input into which company they would like to see discussed. The following list includes lesser know (or discussed) operators of varying sizes that have all applied for HA Drilling & Production Units in NW. LA.

Camterra Resources
BEUSA (Bridas Energy)
Cypress Operating
Questar
Indigo Minerals
Coronado
Fossil
EXCO
Stroud Petroleum
Comstock
Ark-La-Tex Energy
Long Petroleum
Pinnacle Operating
Franks Operating
Forest
ETOCO
Nadel & Gussman - Jetta
El Paso
J-W Operating
Will Drill
Encore Operating (Greystone)
Empressa
EOG Resources
XTO
St. Mary Land & Exploration
Southern Star
JAG Operating
Anadarko
Ellora Energy
Eagle Oil & Gas
Palmer Petroleum
Permalink Reply by ray schmidt on March 11, 2009 at 8:17
what about bridas energy. they are in process of drilling a HA in sec. 28 13n 15w that is one of the first horizontal they have tried?
Permalink Reply by Jay Murrell on March 11, 2009 at 8:20
These guy's money comes from Argentina. They are bigtime risk takers..nothing scares them. They might drill all the way down to NG at .05/Mcf.

BIG BALLS
Permalink Reply by ray schmidt on March 11, 2009 at 8:41
Is that good or bad? Do they have the technical skill to do a good horizontal well?
Permalink Reply by George James on March 11, 2009 at 3:00
I am under about 10 or 12 Samson Countour wells in Webster Parish - I have had only positive experiences from a mineral/royalty owner stadpoint.
Permalink Reply by Skip Peel - Mineral Consultant on March 11, 2009 at 3:08
GJ. Thanks. Can you supply some additional information. What type of wells (formation), when drilled, by who (if not originally by SC)? It's good to get a positive comment on Samson Contour's treatment of lessors. My curiosity concerns their ability and intent to develop their Haynesville Shale leasehold. Like I mentioned earlier, they have taken a huge bite. They just haven't swallowed it yet.
Permalink Reply by Catfish on March 11, 2009 at 3:28
Skip
I saw where they have permitted a HA to 16500 ft. in s34 18n 11w. Would this be a horizonial? I also notice they have alot of verticals in section 30. Do you think they intend to drill the 9 new sections they applied for in 18n 11w?
Permalink Reply by Jay Murrell on March 11, 2009 at 5:02
Hey Skip:

These guys have more money than God. They are good operators. They are a private firm, and they don't put their business on the street. Much else is going to be pure speculation which can be unhelpful.

Jay Murrell
Permalink Reply by Skip Peel - Mineral Consultant on March 11, 2009 at 5:13
Jay. It's good to know SC is in excellent financial health. As to being a good operator, does that pertain to horizontal completions in general and shale (HS in particular)? Can you supply some specifics? Yes, they are not prone to publicize their business but they are fair game for speculation,IMHO. Particularly in regard to their aggressive, on-going HA unit applications and so little drilling.
Permalink Reply by Jay Murrell on March 11, 2009 at 7:03
Skip:

In the absence of a track record in the HA all anybody has to go by is how they have performed in the past in other areas and they have a good reputation in the oilpatch.

There was a time when Winchester were considered to be Bozos in both their completions smarts and their hen house ways in the treatment of those they did commerce with. That all changed a few years back and now their successor, EXCO, is at the top of the pack in Desoto Parish (see Oden and Latin wells). Winchester went from ho hum to primo. IMHO Samson is not likely to go the other way. So, to re-state, all I am aware you can do is look at how they have conducted their business elsewhere. Based on that they look pretty good.

Best,

Jay
Permalink Reply by Skip Peel - Mineral Consultant on March 11, 2009 at 7:22
Thanks, Jay. You make a good point. There is little available information that I have found to help in the evaluation of operators as to their technical abilities here, now, in this shale. The only data that I have run across was an article totaling horizontal completions (in the U.S.) for 2008, January through Oct. Only three operators had more that 500. And indication that the vast majority of active E&Ps were just getting into the horizontal completion business. Chesapeake had 922, Devon 622 and EOG 543. That's off the top of my head so it may not be exact but it is close. 2009 will begin to provide a public record of drilling activity and success that will be of interest. I will agree that the jury is out. However, I would appreciate any thoughts you may care to offer on the fact that Samson Contour is running up a large total of HA D&P Units scattered across the play yet they are doing very little drilling. It seems an obvious, and fair, question to ask. Regards, Skip
Permalink Reply by Iris on March 11, 2009 at 7:42
Hey Skip, Twin Cities called me while I was out....I guess I am curious but will wait to call him back or....

I'm in 18N R14W Section 4...part of Samson Contour 10 units. Does the fact that Twin Cities called me mean anything?

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