landowner
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Marion Drennen
- Saint Francisville, LA
- United States
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Marion Drennen's Page
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- Landowner
- Zip Code
- 70775
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- Haynesville
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Oil & Gas ProSkip Peel - Mineral Consultant said…
Oil & Gas ProSkip Peel - Mineral Consultant said…
Oil & Gas ProSkip Peel - Mineral Consultant said…
Hello, Marion. I am a land man specializing in the Haynesville and Bossier Shale Plays in NW. LA. and E. TX. I am not a geologist but I am familiar with the basic geology of the shales and much of the technical means used to drill and produce them. I have been following that Play from Day 1 and know it's history from beginning to this point in time.
A number of small energy companies, including Mainland Resources, found themselves inadvertently caught up in the Haynesville Shale Play when it was made public in early 2008. Those companies had neither the financial nor the technical capability to drill horizontal shale wells. The did however apply to the state to form HA drilling and production units and to be designated the "operator". The LA regulations regarding unitization allow the holder of the unit order to "designate" the operator, if they are unwilling or unable to operate themselves. It turned out that some of those small companies had development rights where the HA shale was not economic and some were lucky and happened to be in a good area. The latter was Mainland Resources.
Mainland Resources spins the story that they were an "early mover" in the HA shale giving the impression that they knew about it's prospective nature before the Play took off. There is nothing to corroborate that and there is a video of Mike Newman stating exactly the opposite. Mainland also makes statements that would tend to be interpreted as they drill HA wells as an "operator". They did not, In fact there is no mention in LA. state records of MNLU every drilling any well. The Burkley-Phillips #1 is their first operated well anywhere. They "participated" in HA wells drilled by other companies as a Working Interest where they contributed their lease rights. They like to tout that they only sold their deep rights in NW. LA. If those deep rights include productive Bossier Shale, they sold far too cheaply IMO.
Oil & Gas ProSkip Peel - Mineral Consultant said…
Continued (there is a character limit for comments).
The shallower zones that they retained have some value but I am suspicious of the value they state as the price of natural gas has declined significantly and the Hosston and Cotton Valley zones in that area are natural gas producing.
IMO, MNLU has overstepped that line where promotion departs from a fair and equitable recitation of facts. They spend far too much on public relations companies and put out the same old reports time and again.
I hope for a successful completion of the Burkley-Phillips #1 and though I have posed some geology related questions which have been only partially answered, some in favor of and some not in favor of the well, I am not in a position to make a professional projection of an economic completion. I hope MNLU makes a well. If they do so, it will not change any of my factual assertions and personal opinions. Good Luck to you and all the mineral interests in the B-P #1 and in the surrounding lands of MS. And LA.