Replies to This Discussion

Permalink Reply by cocodrie man on May 7, 2009 at 14:11

Les B, where y'at? I wonder if indeed EnCana is pulling out of Red River Parish and selling to Petrohawk?

Cocodrie Man

Permalink Reply by Les Bamburg on May 7, 2009 at 15:56

CM, there has been no indication of EnCana pulling out of Red River Parish. EnCana/Shell controls a significant amount of acreage in the southern portion of the play in Red River, Natchitoches & Sabine Parishes that will expire in the next 1 - 2 years that is not currently held by production. I believe they would priortize the acreage they can get drilled and try to sell, swap, etc the remaining acreage to other companies they may be able to drill in the available time remaining. Otherwise they will just end up losing with no value created.

Permalink Reply by R B on May 7, 2009 at 16:11

Hi Les-can you shed any light on the leaseholds in the two townships Encana has apparently put up for auction? Isn't one of the test wells in 13N-8W? Thanks

Permalink Reply by Les Bamburg on May 7, 2009 at 17:31

RB, the leaseholds for auction in T13N-R8W are located in the eastern half. Much of the acreage appears to be located in Haynesville Units operated by Samson so EnCana/Shell may not be interested in being a non-operating owner in those units.

The acreage for auction does not include Section 19 which was the location of an early EnCana test well (vertical):

EnCana, Charles H Goben #1 Well, Serial #236929, S19-T13N-R8W

The acreage for auction in T12N-R8W is located in the southeasten corner.

Permalink Reply by R B on May 8, 2009 at 0:56

Thanks Les-Do you know if Section 20-T13N-8W is included in the auction?

Permalink Reply by Les Bamburg on May 8, 2009 at 7:44

RB, the acreage for auction in T13N-R8W does not appear to include Section 20.

Permalink Reply by Skip Peel - Mineral Consultant on May 7, 2009 at 15:01

In the discussion thread, "Fortress Management LLC Password Protected Now", there were comments made to the effect that Shell/Encana has placed their leasehold in 12N -8W and 13N -8W in an on-line auction. They are not pulling out of Red River and Natchitoches parishes, just these two townships. We can speculate as to why they have decided not to develop their leasehold in the two townships but I'm sure it is not a "price" issue. And if Petrohawk or any other HS operator had expressed an interest to acquire that leasehold, it would not have ended up in an on-line auction, IMO.

Permalink Reply by cocodrie man on May 8, 2009 at 3:06

Thank you for your comments, it is like Alice in Wonderland.

CM

Permalink Reply by Les Bamburg on May 8, 2009 at 7:49

Jim, EnCana/Shell seem to be retaining a significant amount of acreage so I am not sure it is entirely accurate to say they have no further interest in the townships. Not trying to be picky about the wording.

Permalink Reply by Les Bamburg on May 8, 2009 at 7:52

Skip, I think Shell/EnCana are just selling a portion of their leasehold in those two township-ranges. All the acreage falls outside of existing units.

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