Angelina County Shalers,
I was out working on my pasture today and noticed a convoy of heavy trucks hauling gravel east along FM 842. I jumped in my truck and followed the dust cloud to a new drill pad being constructed that's fairly close to EOG's Sarge Unit. Most curious, I then accessed the TX RRC's new GIS system (I like it better than the old one) and noticed that Goodrich Petroleum has filed a new permit for the ACLCO Hay No. 2 (currently pending approval). I had noticed previously in Goodrich's latest investor presentation that they planned one well for the Angelina River trend (at a $15 million cost). I'm surprised this well is so far north since most of their drilling activity has been further south. However, I guess the success of EOG's Sarge Unit may influenced this new location (my opinion). Haynesville activity in Angelina County has been very slow for the past year, so this development is a welcome change.
Here's the TX RRC Link:
Did a rig show up? Are they still drilling?
They spud on June 19, a day after the permit was approved. The Friday report says they were at 11,211' so they should be nearing the turn soon unless something goes haywire. TVD on Sarge was 15,828' & 15,797' on ACLCO #1H. Sending good wishes...
On their earning call they said that the well won't be completed until the 4th qtr. With how much NG these wells can produce right at the start, I would wait until Nov. 1 and try to get the 1st 5 months of production during hopefully the higher winter NG prices.
Also on Goodrich's latest presentation they have the EOG Sarge well producing 7Bcfe in 22 months.
Sarge was completed mid-March of 2012 and at the end of October 2014 it had produced 7,679,891 mcf which would put it in line with that statement. It has produced 664,703 mcf in 2014 so it made just over 7 bcf by the end of 2013. It is the biggest producer in East Tx. but may be eclipsed by the Banana Slugs 1H (SAC) in a few months.
GDP needs some good news so maybe they'll find it with this new well.
Hey, Mike R.
Happy New Year to you, as well. I try not to prognosticate about what energy producers are apt to do at any given moment. The timing is just about the only question for me, now. The gas isn't going anywhere so we just have to look forward to the conditions becoming right (enough) to induce new activity.