Chesapeake and Plains Selling Acreage outside of Core
Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on
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Got a link to the news release, Jay?
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Permalink Reply by Skip Peel - Mineral Consultant on
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Jay. Considering the confidential nature of the flyer, I'll wait until the reports hit the Internet. Thanks for the heads up. I suspected that Chesapeake was shifting their focus south and stated as much a number of months ago when they began forming units in far south DeSoto and north Sabine and declined to extend a state lease in the Cross Lake area. It will be interesting to see if there are any serious buyers.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Chesapeake doesn't appear to have much to sell in 18N - 16W - 10W. In those seven townships (~252 sections), they have formed only 5 HA drilling units. They have even less in the 17N townships, three.
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Permalink Reply by Taylor on
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We've been waiting on rates from #239947 Conger well. It is listed as waiting on pipeline. Is this the well that made Chesapeake draw a line in the sand, I mean, shale?
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Permalink Reply by Skip Peel - Mineral Consultant on
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Taylor. I think Chesapeake made this decision back in the late summer/early fall. IMO, the two wells that likely influenced the decision were the Prescott in S35 - 19N -13W and the Bohnert in S28 - 19N - 15W. There were other wells that Chesapeake had a hand in but these two were 100% theirs. The Prescott was completed 4/25/09 and the Bohnert 9/3/09.
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Permalink Reply by 221caribbean on
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Skip. I don't have a map of sections, but is the Prescott well considered to be in north Bossier? If so, in your opinion, is the future of drilling in this area dead? Are the stats on the Prescott well decent? Does Chesapeake own acreage up and down Swan Lake Road?
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Permalink Reply by Skip Peel - Mineral Consultant on
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Chesapeake's Prescott (239214) had initial production of 5.22 MMcfd on a 22/64" choke at 3752# Casing Pressure. This is about half the expected production of an average Haynesville Shale horizontal well. It is located in the Red Chute Bayou Field and is approximately 2 miles north of I-220 off Swan Lake Road. I have not performed a lease review in this part of Bossier Parish and have no idea of Chesapeake's leasehold. There is no reason to drill in this area of the Play at this time considering the opportunities elsewhere. At some point in the future, it will make economic sense to develop this northern tier of the Play.
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Permalink Reply by The_Baron on
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Skip, this well has the following on SONRIS
LEASE\UNIT\WELL PRODUCTION
RPT DATE
09/01/2009 32398 mcf
08/01/2009 38668 mcf
07/01/2009 46018 mcf
06/01/2009 58361 mcf
05/01/2009 95317 mcf
04/01/2009 23939 mcf
The sept report shows the well down to about one million per day, the best was only 3.2 million/day.
despite the IP rate reported, the well has never come close. -
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