With the expiration of the Denkman TMS well permits in St. Helena there are none remaining TMS for LA.
Not surprising information. Gotta have the money to do the job.
Paloma has had a tough time finding partners for their TMS stake. Yes, not surprising. However, somewhat under the radar, Encana has continued to apply for and receive unit designations in MS. The company does not have any new permits to drill since mid-2015 but that leaves a dozen or so permits live until summer. I help some attorneys keep up with TMS development, or in the present case non-development, and suspect that the Encana unitization activity is related to making their TMS acreage more attractive to potential buyers, hopefully. As the clock ticks on undeveloped leasehold it is imperative to provide a prospective buyer with the best opportunity to mobilize a drilling program and HBP as much acreage as possible. In the case that there is an interested operator it will be a race to hold acreage through the drill bit or expending capital on lease renewals. Seems a long shot but Encana has a lot invested in the TMS and would likely have to suffer a significant write down if they must abandon the play.