Haynesville Shale Rig Count Trend (11/14/10)
Attached is a chart that shows the trend for drilling rig activity in the Haynesville Shale play for 2010. The total rig count peaked in June at 187 and has declined to 160.
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landownerPermalink Reply by ken hatcher on -
I suspect most of the 27 are in South Texas, you could see it coming.
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landownerPermalink Reply by benny688 on -
November 2, 2010 Petrohawk announced they intend to cut their rig count on the Haynesville from 16 to 7 in 2011, so next year will probably be a lot worse.
GLTA
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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on -
Petrohawk announced that they will have drilled to HBP their entire existing leasehold by summer 2011. The first major Haynesville player to do so. After that they do not have to drill any new wells.
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landownerPermalink Reply by Jack Blake on -
They will have to send mailbox money cried Jack Blake. WAHOOOOOOOOOOOOOOOOLONGLIVEHAYNESVILLESHALECFRIEDJACKBLAKEWAHHHHHHHHHHHHHHHHHOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO for Petrohawk!!!!!!!!!!!!ANDTHEHAYNESVILLESAHLELANDOWNERS!!!!!!!!!!!!!!!!!!!WAHOOTHEYALLCRIEDDDDDDDDDDDDD
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Oil & Gas ProPermalink Reply by Les Bamburg on -
Skip, some operators are already near 100% HBP'd and reduced rig count.
By the way, Petrohawk will not have HBP'd their entire existing leasehold but rather the leasehold they plan to keep.
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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on -
Yes, Les, I am aware that there are some operators already near 100% but they are not among the major lease holders in the Play. And you may be right about Petrohawk but that's not the way Floyd stated it. His quote was in fact quite close to my statement above.
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Oil & Gas ProPermalink Reply by Les Bamburg on -
Skip, note the use of the word "key" which is just code for - even though a lease expires it was not key to our plans. The same is true for all the major players such as EnCana, Chesapeake, Exco/BG, Devon, Questar, EOG, etc.
Indications are EnCana and Chesapeake will both be HBP'ing their critical acreage around the same time as Petrohawk.
"At the time when all of our key acreage there will be held by production..."
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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on -
Les, I disagree.
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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on -
Petrohawk is the only major Haynesville operator to drastically decrease their recording of leases. HK has recorded leases on only 6 tracts in DeSoto Parish in the last 100 days. And 1 for the same period in Sabine. The only way to HBP undrilled leasehold in the short term is to stop taking leases. For those who would care to review the public record, and don't have remote access, I recommend the Sabine Parish Clerk of Court filings that I post to that group page listing the companies that continue to lease in the southwestern end of the Play.
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Oil & Gas ProPermalink Reply by Les Bamburg on -
Skip, I think some operators are just leasing in units they already operate and intend to drill anyway.
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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on -
Absolutely. I think that explains the Petrohawk leases. However the leasing in Sabine and DeSoto parishes by other operators doesn't support that conclusion if you look at the last 100 days of recorded leases. I believe Floyd because the public record appears to confirm his statement that Petrohawk will be fully HBP'ed by summer.
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