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Comment by Joe Aldridge on July 11, 2012 at 10:57

Steve and Chip,

I don't look for any of the past players to do any more in the trend. Pryme is actively looking for a farm out partner and so is Indigo. Of all of the companies Anadarko should have had the best engineering and knowledge of the Chalk. They obviously did not and can't even learn from their mistakes. In my estimation Anadarko has spent over 100 million in the trend and has little to nothing to show for it. They are just a bunch of "bull headed hot dog Texans" that came in here and were going to teach us something. It would be my hope that they would put their acreage up for farm out also and hopefully someone with the right techniques in drilling, completion and stimulation will start drilling wells that show the true capacity and capability of the Chalk. 

Comment by Steve on July 11, 2012 at 10:16

 I would not be surprised to see Anadarko and Halcon teaming up to give it another try in your area before leases expire. IMO

Comment by William C. Morrison on July 11, 2012 at 10:08

All quite in Pointe Coupee.  Had some activity regarding leasing in Avoyelles but me thinks Anadarko is hurting.  Looked at the financials and they have written off $140 million in drilling expenses.  Basically, they lost money in 2011.  Things may turn up for them in 2012 but they must also break the code on how to drill the "chalk."  Just have to wait.

Comment by Joe Aldridge on June 10, 2012 at 20:18

david crocket,

That post was on Pryme's web site also. It means that they have lost their funding and are now looking to do a "farm out" to continue the E&P in the area. I don't look for anyone to jump up and do a quick deal. Between Anadarko and them they have ruined the play in Central Louisiana.

Comment by david crocket on May 29, 2012 at 14:00

The article below comes from Oil Online.

Comment by david crocket on May 29, 2012 at 13:58

Pryme shops Turner Bayou farm-out

 5/29/2012

Pryme Energy Limited and its partners in the Turner Bayou project have established arrangements for farming out of a portion of their project interests with the aim of raising capital and accelerating the continuing field appraisal and development of the project.

The arrangements provide an effective structure to attract a substantial industry exploration and production (E&P) company and/or industry financiers as partner(s) in the significant onshore oil resource development opportunity in the Austin Chalk, Tuscaloosa Marine Shale and Wilcox formations, which the Turner Bayou project represents. The arrangements agreed between Pryme and its Turner Bayou partners include:

• The prospective farm-in partner will be offered the right to acquire a reasonable equity interest in the Turner Bayou project area in return for disproportionately funding new well drilling and completion operations. The work program, to be undertaken within a fixed time period, will include drilling and completing wells on prospects adjacent to the existing producing Deshotels 20H and 13H wells;
• If the farm-in partner is an experienced operator with relevant applicable experience it will be offered operatorship of the project. Otherwise a suitably qualified and experienced commercial operator will be engaged;

A successful farm-out as proposed will result in the accelerated drilling and development of wells in Turner Bayou. A number of E&P companies, some with significant experience drilling horizontal Austin Chalk wells, have shown a strong interest in the project.

Should a farm-out not be completed in a timely manner, sufficient primary term on the mineral leases remains to allow for alternate arrangements to be made by Pryme.

"We consider the arrangements to provide a clear and effective strategy that offers the best possible chance for a successful outcome. Pryme is the largest equity owner in Turner Bayou and together with our project partners we control a large acreage position with demonstrated prospectivity for oil. The project area is surrounded by medium to large E&P companies whose focus is not only the prolific Austin Chalk formation but also on the emerging major oil resource play in the Tuscaloosa Marine Shale which is also well represented in Pryme's acreage," said Justin Pettett, Pryme's Managing Director.

"Unlocking the significant value of the Turner Bayou Chalk project can be accomplished by drilling the next wells in this project, implementing a low risk completion technique and bringing the wells online without incident. Having confirmed the commercial production characteristics of wells drilled in Turner Bayou we will continue to drill and build a portfolio of producing oil wells."

Permitting of the next two wells, the Deshotels 24H and Rosewood Plantation 21H, is underway. The Deshotels 24H drill site location and the service road to the Rosewood Plantation 21H well site have already been built. The sites for both wells are adjacent to the initial Turner Bayou wells drilled by Pryme and its partners and are located in the area which recent re-interpretation of the project's 3D seismic survey has determined to have the highest fracture intensity, and hence oil prospectivity, of the Austin Chalk formation within the project area.

Comment by Geologist on April 18, 2012 at 7:29

Well, actually in Texas the entire interval is called the Eagle Ford and then in LA it is broken down into the upper which is called the Eagle Ford and the lower which is the Tuscaloosa.  I'm not sure what is the sweet spot in Texas so I can't tell you which is being produced.  It may be the lower which has been shown to be productive to the East.  One additional thing to remember is that Austin Chalk wells have been around for a while longer in Texas than in Louisiana.  I don't know anything about the AC in TX so please correct me if I have misstated anything.

Comment by littleasy on April 18, 2012 at 7:00

TX isn't LA, and the Eagle Ford isn't the TMS. So why would anyone think that the Austin Chalk would be produced the same way in two different locations. They could be similar or vastly different reservoirs in terms of production. Time will tell, for sure.

Comment by William C. Morrison on April 18, 2012 at 6:43

Well now you know why I told a person to go ahead and take the lease offer.  Frankly we as a family have made more money of leases than production.  We were in production RE the Wilbert well on the back of Stonewall Plantation.  But that well was said to have "sanded over."  I think it was probably poorly drilled and completed.  Not more than a couple of miles another well was reworked and complete four times and is not in production.  So we know that there are minerals beneath our family property.

We have to wait now to see what transpires.  There has to be a solution.  Perhaps as you say it will be the Texas methodology.

The rig that was on LaCour #43 has returned to Texas.  Perhaps to learn how to do the job correctly.  Same rig that was on Odenburg (Rabalais???). 

Activity in Pointe Coupee has ground to a halt.  We have to wait.

BTW this time when we leased we did use a lawyer for the very reasons to spoke of.  We have had some experience in the past and know that the leasor does so in his/her own interest not yours. 

Chip

Comment by Joe Aldridge on April 18, 2012 at 6:17

Chip,

As far as I can tell Anadarko has ruined the Play through there ineptness and arrogance. I was afraid of this from the beginning. I went to the first pre-conference meeting on unitization and was concerned about the large units with the long laterals. The people in that area did not seem to want to hear my concerns. All they wanted was someone to "Drill-baby-drill". I didn't go back after that. I have stated my concerns on GHS in the past and was told that I was wrong by several people that have connections to the industry. If you look at the production history on Kirk's site you can see that all of the wells have problems. Its now the middle of April and since the first of the year there have been only 3 wells permitted or spud - all in Vernon Parish. The wells to the East that were permitted have expired. I said back in December that with the leasing stopping that it was a problem and it was not due to budget problems like some were led to believe.

Now what I don't understand is why Anadarko is using one drilling protocol, which seems to be successful, in Texas and a different one here in LA which is not. Can anyone answer that question?

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