The "Western Haynesville" is a quickly evolving play based on the deep Haynesville and Bossier geological formations. Comstock Resources was the early mover and Aethon has followed suit. Both companies have built large leasehold positions and drilled impressive wells. Other major unconventional O&G companies are joining them as the play area expands. Mitsui E&P USA has built a large position and Expand (Chesapeake) is heavily rumored to be leasing. There may be more major operators chasing this trend via the multiple brokerage firms that are active in the eastern expansion of the trend. The play area originally was comprised of Leon, Roberston and Freestone counties as the focus for early drilling. Leasing operations and "trend subsurface work" has seen the play expand to include Houston, Anderson, Cherokee and Nacogdoches counties. The eastward expansion to Nacogdoches County now almost connects the western trend to the original Haynesville Shale fairway. The prospective section in this trend ranges from 2000' to over 4000' thick, and the opportunity for multiple target intervals is highly probable based on some stacked lateral efforts by Comstock. The play is deep, hot and over pressured making it an expensive and challenging trend to drill, fracture stimulate and produce.
Documents were filed in the Anderson County Deed Records Friday in which Drake Exploration and BTP Operating assigned their Anderson County leases to Chesapeake Exploration, LLC, a leasing entity associated with Expand. This is the first confirmation that Expand is active in this new play. Drake also has leased acreage in Houston and Leon Counties, so assignment documents should be filed in those counties soon.
Estimated gross acreage leased and recorded so far:
Anderson: 8,765
Leon: 16,233
Houston: 32,185
Total: 58,147
Drake continues to lease in Houston County, reportedly east of Grapeland. More than 55,000 acres has been leased by someone in Cherokee County. Consensus guess is Expand, but that remains to be seen, as no assignments have been filed.
Here's a map of the surveys in Anderson, Leon, and Houston Counties that contain acreage leased by Expand:
Skip Peel - Mineral Consultant
Thanks, Alan. I look forward to some well results. This is a major extension of the play area.
Aug 10