What the Big Players are Saying About our Shale...

Austin - GHS's Heavy Roller

Developing Unconventional Gas Conference
April 7, 2009, Fort Worth, TX
By: Austin Eudaly

Andy Hopwood, Vice President of BP America Inc., stood on stage in front of over 500 Oil and Gas Professionals early this morning at the Omni Hotel in downtown Fort Worth. With a hint of sarcasm he stated, “Well, if you were here at the 2008 DUG conference last April…..you know nothing much has changed in the oil and gas industry over the past year.” The crowd had a good laugh at this understatement to commence the 2009 Developing Unconventional Gas (DUG) Conference.

In a year that has seen oil and gas prices soar to record highs and dive to near devastating lows, it has left both petroleum industry experts and mineral owners alike scratching their heads in disbelief. I was fortunate enough to attend the DUG conference today in hopes of getting a firsthand account of what is currently happening (and not happening) in the unconventional gas plays across North America. Keith, aka Haynesville, has asked me to give a detailed report on some of the highlights and current attitudes that were prevalent among attendees at today’s conference. Hopefully, I can provide a clear picture of what is currently happening in the oil and gas industry for all you members on Go Haynesville Shale.com.

Seeing it is now half past midnight here in Dallas, unfortunately I’ll have to be brief, as I have another full day of seminars beginning at 8 am tomorrow. I plan on providing a full run down on all the key speakers and topics covered in the conference in the next day or two though. Please stay tuned.

A few quick highlights from today’s talks:

1. Today’s major cost hurdles of unconventional gas plays
2. The main cause(s) of the fall of natural gas prices
3. What has to happen for the natural gas industry to get back to being “healthy”
4. How technology is opening up production across the board
5. The current U.S. gas glut: The #1 way to stop it
6. Tom Gardner’s 2009 message to the E&P Industry: “Stay alive until 2010”
7. Who is king? Marcellus, Haynesville or the Barnett Shale.
8. Haynesville Shale gas well life expectancies
9. BP’s Haynesville position: where, when, how?
10. Obama’s proposed tax increases on the Energy Industry: A bad idea….unless your goal is to increase imports from our enemies in the Middle East


Best,

Austin Eudaly
Dallas, Texas
austin.eudaly@gmail.com


P.S. Also, if you have a question that you would like me to ask any of the panelists tomorrow, please feel free to send me a text/ email at the contact information given above. I will do my best to get it answered for you.

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Comment by Martin on April 9, 2009 at 10:24
Eagerly awaiting answers to questions in the original post plus those added by other posters....
Comment by JWC on April 9, 2009 at 2:06
Thanks Austin. Looking forware to your posts.
Comment by intrepid on April 8, 2009 at 17:10
Great to have coverage like this through GHS. I feel like we are getting good coverage and look forward to the updates. Thanks, Keith, for making coverage like this happen.
Comment by Austin Eudaly on April 8, 2009 at 16:39
Thanks for the feedback everyone. I am going to try and have a post up by tomorrow afternoon that covers everything discussed at the DUG conference, as well as address any questions given here.

AE
Comment by Mattie on April 8, 2009 at 15:09
Austin,

Could you provide answers to the highlighted issues stated above? Or, is that coming later in the week?
Comment by Skip Peel - Mineral Consultant on April 8, 2009 at 13:55
Yes, thank you, Austin. I look forward to your follow up reports. Now, Jay, what do you consider "the core" area of the Haynesville Shale? We refer to the "core" as if we all understand what it is. I think many members would care to see some definition of it. With the caveat that it is only an opinion based on limited real data currently available and will change to some degree with time.
Comment by JWC on April 8, 2009 at 9:40
I was also wondering what the OilVoice poster says for the central and southern part of San Augustine County?
Comment by Dorcheated A1 on April 8, 2009 at 6:58
Thanks for the report Austin.
Comment by Bobi Carr ("parker") on April 8, 2009 at 6:45
I spoke to someone else who attended DUG. He said that the HS has been talked about in every seminar that he attended.
I look forward to hearing the rest of your report.

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