Depends on the type of information in which you are interested, Phyllis. There is little or no leasing and no applying for additional drilling units at this time. There are no rigs drilling TMS wells in either state. The TMS is generally viewed within the industry to be non-economic at current commodity prices. And prices would have to increase quite a lot for it to become economic. So nothing going on equates to not much to talk about.
What is going on is producing wells. If you care to view what TMS wells in Amite are producing you can do that on the MS O&G Board database. Here is a link:
Prices being the major issue, here's an article from yesterday that might interest you:
A Possible Coup in Saudi Arabia Signals the End of US Dominance in the Mideast
I think that the main page should send out weekly updates also, GHS on life support ;)
GHS participation to a point follows the fate of the energy industry in general. However considering its regional focus it has been fortunate to always have compelling development scenarios to discuss. Keith was wise to expand the group interests beyond the Haynesville Shale as new regional plays developed to the point where they generated member interest. The Brown Dense reached critical mass for a time as did the TMS. Now the North LA Cotton Valley Combo is not only worthy of coverage but stands out nationally for it's resilience in the face of low commodity prices. There are few counties in the country that have the number of rigs drilling, leading well permits and outstanding production results as Lincoln Parish. The play area continues to grow now appearing to encompass a portion of Jackson Parish.
Keith does send out "Weekly Shale" which is a compilation of selected discussions from all his energy related websites. If you don't get it in your inbox, sign up for it. It is interesting to see what if happening in other U.S. plays and what those members are discussing.
DellP - GHS has been on Life Support for 5 years :-) Thanks for jumping in with a post.
I'd remove the settings checkbox to disable all email, maybe replace it with weekly updates checkbox.
Fortunately some of us that leased were not the ones that got crushed the most in this fiasco. Unless you went wild spending mail box money before it came in, you probably did no worse than you otherwise would have done without the oil bubble bursting. Now for the oil field workers that are out of a job it hurts, I know.
As far as investors that jumped in late just to ride this baby off the edge of a cliff I feel your pain but this was very much like the housing bubble. What very few of us that were in the middle of this boom realized it was created by idle money looking for a place to work, just like the housing boom and the dotcom boom. At some point it became "irrational exuberance" to coin a term from Chairman Greenspan.
Some on this site were telling others to hold out for $1000 per acre in Rapides Parish. This person and the ones that listened to her crapped and fell back in it. I know of no one that got more than $500 per acre and 1/4 royalty, I thought that was a dam good offer. We made offers for $800 for a 5 year extension and $500 for a 2 year extension option. As far as I know the trigger on the options have not been pulled as the leases are running out. Good while it lasted but everything has gone down hill from the end of 2012 forward.
Yeah, I had some good advice from an old wise oilman about my choice to lease when I did. He told me they would probably never drill on my land so don't even think about holding out.
Boy was he right.
Now my questions are what will it take to have real exploration and production in the TMS? It's not when, it's how, what and why. The question is how high does the price of oil have to be to make it real? What technical transformations must occur in order to make TMS profitable? Why would we get to the point where the TMS is the obvious next choice for E&P companies?
From what I have heard many of the TMS wells were running in the 18 million to drill range. I would think only "Big Oil" would be able to experiment at those prices and today's oil prices.
TD,P is correct. For the wells that have costs posted in the public record the average is north of $18,000,000.00. Although the cost to drill has come down a lot, so has the price of oil. When the price of oil goes back up, so will the cost to drill and complete these very challenging wells. The average production rates are not sufficient to provide a profit at any price per barrel that appears within reason for the next four or five years.
I agree guys, although I might look at it from a different perspective. When people in my area ask if we are ever getting leased again. I tell them one of two things would have to happen that I can see (there may be more).
One thing would be that extreme cheap money looking for investments like the original shale boom and/or an awesome technological break through would make it possible. Without the technological advance to point to first, I don't see money pouring in.
The other is utter chaos in the energy sector and eventually our entire economy. I'm not saying a Mad Max scenario over the American countryside, but pretty darn bad. Possibly even draconian rationing or government subsidized drilling efforts in order to squeeze out every drop of oil available.
I really hope its the first option and I'd say possibly 10 to 15 years from now.
The second option could happen at anytime with the middle east being in the shape it is today.
I'll pose an alternate scenario that is gaining in credence among those who follow the industry closely and look long term. Renewable energy sources continue their incremental increase in percentage of domestic energy supply. Improvements in the efficiency in which all hydrocarbon fuels are utilized limits increase in demand. A few of those technical break throughs come in the form of batteries for home use in addition to electric vehicles. Ten years down the road global warming has ceased to be debatable owing to its obvious and highly detrimental results.
The results may very well be the elimination of coal as a primary fuel source. The continuing over supply of oil in the face of ever declining demand. And the large scale replacement of both by natural gas. In this scenario it is posited that significant crude reserves will never be produced. Will remain in the ground. I think that was largely unthinkable ten years ago by most of the public. I also think it appears somewhat more plausible now. And in ten years it could be an accepted fact.