EOG filed a LA Austin Chalk drilling permit in East Feliciana on the LA/MS state line in Little Comite Creek field.
Response to Bob as to in the impact of "different environments". The depth issue to be considering is not TMD (total measured depth) but should be TVD (total vertical depth). Once one crosses into a higher pressure regime (and in this case, a much higher pressure regime), drilling becomes much more difficult for many reasons - initially to run additional casing for wellbore protection. This takes a lot of time. Then drilling in higher pressure environments with higher (and more expensive and exotic drilling fluids) adds time to the drilling equation.
This situation is then even more complicated if natural fracturing or faults (or both) are encountered while drilling. Imagine what happens if you have heavy drilling mud in the hole to handle and control high formation pressures and then hit a "void" associated with a natural fracture or fault that starts to suck up all your drilling fluid. Which can then create a blow out or lost well control situation.
All this equates to more drilling time and lots more $$$ being spent.
It is not unusual for members to occasionally feel that industry members are negative in their remarks regarding an emerging play. For those of us who have been around these now eleven years we know from many discussions that Jay is not only highly qualified to comment on plays and the complexity of drilling and completion challenges, he works in the industry and has access to data and reports not commonly found in the public record. He has been around the block many times in his career and often helps to put the risks associated with operations in prospective for those of us who are less experienced. Jay is one of us and a land/mineral owner in the Haynesville Shale. His input is highly valued and appreciated by the members.
We all appreciate Jay, Rockman and Skip for their valuable input.
Well dang, I hope I didn't offend Jay. I definitely appreciate his opinion. I was just curious as to whether he was as negative on the play as I thought he sounded. It's ok to be negative, everyone has an opinion and his is probably more valuable than most.
I know that Jay is just "calling it like he is seeing it."
Similar to my approach. He has been involved in many VERY successful plays and well as has seen some that have not worked during his career.
Appreciate all of your input since I'm just a wistful dreamer. Maybe I'm dreaming about the Eagle's well across the street from our house. Since the initial results were so much more promising than the e/w Feliciana wells could that be a positive for our Avoyelles Parish prospects? That area was so hyped up there must be a lot of "head Scratching" going on over there. The gas flare has still been strong lately. Just idle speculation but still hopeful. The lease options will come around for !st of the year. Any talk of picking up the option to renew?
Any new play evaluation and delineation is a marathon - plus an exercise in patience and frustration.
Will the Avoyelles Parish work in the long run? Good question. Personally, I still look at this first well in the play as semi positive considering it was the first well (i.e. on the bleeding edge of understanding the play in this area), is drilled toe down and apparently still has not had any artificial lift installed to help unload the well.
Just my opinion as always. Just looking at what is in the public record from my perspective
For the past 11 or so years Jay has been my go to person for info. He is a straight shooter and often post things that you can't find anywhere else.
Agree here. Jay's position in a technical discipline within the E&P arena puts his perspective more into what works and what will be sustainably profitable as an enterprise in the moderate to long term. While marginal and/or non-profitable wells do result in monetary benefits to mineral owners / lessors and those parties root and support every well to be drilled and completed, the industry cannot tolerate too many "science holes" as an ongoing concern, particularly in the current debt-laden, low commodity price environment. Even landmen sometimes perceive the geologists and reservoir engineers as "deal slayers" and curmudgeons at times, but at those times is when management needs to hear the person willing to say "well, that sounds cute and cuddly, but at these prices and given type-curves, you're never going to make it back to even".
As one member is found of saying, E&P is not engaged "in a morality play" - nor is E&P an altogether charitable endeavor. It is only sustainable when *all* (even the big bad O&G Co.) can benefit.
Very well put. Thank you
Maybe more than many types of financial endeavors in this day and age the old saying, "Don't get your hopes up" applies to the oil field more so than others. Just the same I'm still grateful for the opportunities that have been blessed on us by the hard work and analysis provided by people like Jay. thanks for the feedback. Flare was bigger than usual last night.