EOG Resources to sell 15,000 acres of leases in the Haynesville.

This sale is part of an effort to sell 180,000 total acres of leases in Marcellus, Eagle Ford and Haynesville to divert additional capital to their new liquids plays. In looking at their map of acreage in the Haynesville, I'm guessing the 15,000 acres lies in Panola County.

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Permalink Reply by Les Bamburg on August 9, 2010 at 16:18
SB, inside information or hunch?
Permalink Reply by Spring Branch,mineral owner on August 9, 2010 at 22:40
Just sarcasm.
Permalink Reply by moondawg on August 10, 2010 at 8:08
I don't work for shell but I know several people who do and I work around shell and encana alot
Permalink Reply by jffree1 on August 6, 2010 at 11:18
If you read the Q&A in the call transcript, there are some comments regarding the Haynesville sale. The gist of it was that they don't feel like contributing 100% of the technical expertise in a JV where the partner is learning at their expense... for 50% of the proceeds. So, where they are in that position they are opting out.

I could be wrong but I suspect Shelby County.
Permalink Reply by Spring Branch,mineral owner on August 6, 2010 at 12:57
Julie, I had a little different take on the answer regarding the JV above. My take is that Mark Pappas wasn't referring to the rational for selling acreage where there is an existing JV, but rather the question was why do an outright sale of the acreage rather than bring in a new 50 % JV partner. They are selling rather than bringing in a NEW JV partner for the reasons you enumerated above. I don't think the acreage they sell will necessarily be those acres where they have an existing 50 % partner. Having said all that, you could still easily be right about Shelby County. There haven't been many "Barnburner" wells announced there as yet. I'm guessing either Shelby or Panola acreage for sale.
Permalink Reply by jffree1 on August 6, 2010 at 14:43
You are right about the NEW JV comment, of course... I neglected that. I do think its a toss up probably between Shelby and Panola. Neither has been terribly impressive where EOG has wells.
Permalink Reply by Les Bamburg on August 6, 2010 at 16:45
Jffree1, I would think Shelby acreage would be a little easier to sell.
Permalink Reply by jffree1 on August 6, 2010 at 16:51
I do too, Les. That is one reason I thought of it. There are a couple of other areas that come to mind over here but are a little harder to pin down.
Permalink Reply by Henry on August 6, 2010 at 12:20
In Louisiana, EOG currently has about 15 units in the Trenton and Ten-Mile Bayou fields, about 10 units near 12N-15W, a handful of units in 9N-14W, and a handful of units in 16n-16w.

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