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Permalink Reply by benny688 on January 26, 2011 at 14:22

From an article in yesterday's Wall Street Journal this must be the Wolfcamp Shale in West Texas and we should expect further reductions in rig count on the Haynesville.

 

GLTA

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Permalink Reply by North LA on January 26, 2011 at 14:49

Wolfcamp is not a new play for them. They've been in the Permian basin for awhile.

 

Look on pg 15

 

http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NzgyNzR8...

 

http://shaleoilplays.com/2010/09/new-wolfberry-and-wolfcamp-shale-o...

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Permalink Reply by benny688 on January 26, 2011 at 19:47

Your links are h

 

alf truths-not a new play for CHK in the Permian Basin -they have been trading their leases in the Permian like baseball cards for years without ever turning a profit.

 

The new news is that this is a better bet than the Haynesville or Eagle Ford.

 

GLTA

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Permalink Reply by JHH on January 27, 2011 at 1:51

Regarding the new news.  What is better than the Haynesville or Eagle Ford....?  The Wolfcamp?  or is it something else? thanks

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Permalink Reply by North LA on January 27, 2011 at 2:30

How is this a half truth. It comes directly from the CHK presentation on pg 15.

 

 

Wolfcamp

University 5-26 1

 

(0.1 mmcf/d + 504 bbls/d)

523 boe/d

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Permalink Reply by JHH on January 27, 2011 at 2:41

I'd certainly like to see producers in the U.S. find huge pockets of oil even if Chesapeake is one of them.  I'm sick of OPEC and Argentina shake us like a dead possum!

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Permalink Reply by North LA on January 27, 2011 at 11:43

JHH,

 

DIrect your anger toward Venezuala and not Argentina.

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Permalink Reply by JHH on January 27, 2011 at 13:08

HA!  Senior moment

 

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Permalink Reply by benny688 on January 27, 2011 at 14:05

It's a half truth in the sense that CHK has been operating conventional wells on the Permian Basin for quite a few years, but new data from the recent completion of two horizontal wells into the Wolfcamp Shale show that the shale layer is unusually thick and wet so it should be a lot more profitable than the Haynesville or even the Eagle Ford.

 

GLTA

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Permalink Reply by North LA on January 27, 2011 at 14:23

Fair enough. I was just saying CHK makes it sound like the play they are talking about has never been mentioned before and that would rule out Wolfcamp because they are already talking about it.

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Permalink Reply by Lrb2brnot2b on January 27, 2011 at 14:34

Look at the price of oil.   Those oil prices will make producers start moving back to oil leases.  I think the big new find they are talking about is the pool of oil that runs from New Orelans all the way up through Vernon parish.

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Permalink Reply by North LA on January 27, 2011 at 14:56

Could be. Do you know of any leasing in that area by CHK.

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