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Oil & Gas Pro Comment by Skip Peel - Mineral Consultant on August 6, 2009 at 6:24

From Today's Oil & Gas Journal On-line


Texas-East

Published: Aug 5, 2009

By OGJ editors
HOUSTON, Aug. 5 – Devon Energy Corp., Oklahoma City, said it has substantially derisked 74,000 of its 110,000 net acres in the Haynesville shale gas play in the greater Carthage, Tex., area and has identified about 800 drilling locations on the acreage.

The company estimated a resource of more than 3 tcf of gas equivalent on the 74,000 acres.

Devon is drilling a well in San Augustine County to evaluate its acreage in the southern part of the Haynesville play.

Comment by jffree1 on August 3, 2009 at 10:06

Here's a link, Cheerleader.

http://www.gohaynesvilleshale.com/forum/topics/southwestern-cabot-common

Comment by Cheerleader on August 3, 2009 at 9:53

ALongview,
I can't find your post in East Texas Shale News which jffree is referring to, on this site, on July 28th. Which abstract is this permit in and what does JOA stand for. I am assuming a joint permit. Thanks

Comment by jffree1 on July 28, 2009 at 14:03

Hey guys, ALongview had a good post in East Texas Shale News. Cabot, Southwestern and Common Resources filed a JOA on acreage in San Augustine to drill the Haynesville/Bossier.

Comment by Lessor on July 28, 2009 at 13:55

Drill baby drill!!!! Told you that was an interesting area.

landowner Comment by intrepid on July 27, 2009 at 16:57

jffree and Doug, I agree!

landowner Comment by Doug Fitzgerald on July 27, 2009 at 16:10

I'm thinking if there is already wells putting out 500 barrels of OIL a day in adition to the gas that there might be a real gusher discovered soon.

Comment by jffree1 on July 27, 2009 at 14:12

I think they still need to drill some wells to hold acreage. Might as well drill for something that's gonna make money.

landowner Comment by intrepid on July 27, 2009 at 8:44

Doug, It sounded like to me they are looking to develop their resources any way they can to maximize return. Sounds good to me. I'd rather sell gas later than now if the price is better. Is that close to what you got out of it?

landowner Comment by Doug Fitzgerald on July 26, 2009 at 17:41

East Texas


At Minden, the Company recently completed its first horizontal Cotton Valley Taylor sand well with an initial rate of 9.5 Mmcf per day. This well has performed extremely well with a 30-day average rate of 7.9 Mmcf per day. "We are pleased with both the initial results and the production stability of this well," said Dinges. "These rates significantly enhance the economics for Cotton Valley development in a lower price environment, and to that end, we have identified 50 to 60 potential locations."


Also, in response to the soft price for natural gas near-term, the Company initiated an effort to exploit the horizontal Pettet at County Line - a known oil reservoir. "We have completed our confirmation wells of the Pettet Lime oil reservoir under the James Lime field. The most recent well confirms the initial discovery drilled by Cabot this past spring," stated Dinges. The Sustainable Forest #5 tested the Pettet in April 2009 with a 4,700-foot lateral and a ten-stage slickwater frac. The well IP'd to sales at 842 barrels of oil per day plus 1.4 Mmcf per day at 1,300 pounds flowing casing pressure. The 30-day average rate was 519 barrels of oil per day plus 2.0 Mmcf per day.


The confirmation well, the Timberstar Redditt #4, drilled about 4,000 feet from the discovery, was spud in May 2009 and tested the Pettet in a 5,200-foot lateral with a ten-stage frac. This well flowed to sales at an initial IP rate of 504 barrels of oil per day plus 1.2 Mmcf per day. Over the first nine days of production, the well flowed at an average of 465 barrels of oil per day plus 584 Mcf per day.


"Because Pettet oil economics are superior to the James at current commodity prices, we will shift some capital from the James program to the Pettet," added Dinges. "We have recently spud our third Pettet well and if the price disparity between natural gas and oil persists, we plan to expand the program further in 2010."

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