LWR SMK RA SUA in the Bull Creek Field, S21 & 28 - 21N - 3W (1280 acres), Union Parish.

http://ucmwww.dnr.state.la.us/ucmsearch_070611/UCMRedir.aspx?url=ht...

LWR SMK RA SUA in the Blackburn Field, S23 & N/2 of S26 - 22N - 8W (960 acres), Claiborne Parish.

http://ucmwww.dnr.state.la.us/ucmsearch_070611/UCMRedir.aspx?url=ht...

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I'm making a guess that Whiting is in joint venture with SWN? 

It hasn't been officially announced but that's a reasonable assumption.  As we will be discussing Whiting more now that they have begun development, I suggest we use their stock symbol as short hand for their corporate name, WLL.  WLL  has leased minerals in Claiborne and Webster parishes so that will expand the foot print of exploration.  And I suspect that WLL will target formations other than the Brown Dense.  Considering the size of the leasehold it will take a lot of wells to find areas that can be economic.  And the clock is ticking on the primary terms of a lot of leases.

Skip: Have you heard anything about WLL and the Millerton? I have heard rumors about this lately. Is that what all of the seismic activity is about? WLL is very serious about this, so I understand or have been told by some of these landowners. 

Francis, all I know is that they have been leasing and continue to lease minerals in Webster and Claiborne parishes.  It's a fair assumption that they are serious and involved with the seismic shoot.  We've known they were leasing lands and building pads for months.  This is simply the first step beyond that.  We now know where and for what they plan to drill in their initial wells.

Skip, do you think WLL is the JV partner SWN mentioned in their latest presentation? Also, why do you think the unit in Claiborne is only 960 acres instead of 1280?

Yes.  Considering WLL's leasing in close proximity to SWN leasehold they've always been at the top of my list for a SWN JV partner.  I don't have a fault map for that particular part of the world but that would be one possible reason.  Operators have economic models for well cost vs projected production.  WLL may simply be setting up to test different lateral lengths.

I was hoping for a new player with deep pockets.

When XTO/XOM, EOG, COG and DVN didn't appear to have any interest in the Brown Dense after their initial wells I thought that was significant.  I think that SWN is lucky to have attracted WLL to help explore the Brown Dense.  3+ years without a commercial LWR SMK well indicates the difficulty involved and points to the likelihood that the formation is not  continuously productive over a large area.  The clock is ticking on lease terms. If there are other pressure fairways where a commercial well is possible the partners need to get busy punching holes to find them.

Skip, I heard today that it was XOM/XTO that was SWN's JV partner. Do you think that has any validity?

Skip I have received lease offer on 840 acres in North Webster Parish..

Congratulations, Cynthia  Would you mind giving us a section-township-range for your lands?

One rumor is as good as another until the official announcement is made.  WLL is still at the top of my list.

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